Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Approving Form of Sale of City-Secured Bonds
Amount to be Financed: $18,400,000.00
Source of Appropriation: Bond Anticipation Notes
Purchaser:
Project Information:
(Description/ Project No./ Amount Appropriated/Ordinance No.)
RESOLUTION DETERMINING CERTAIN MATTERS IN CONNECTION WITH THE SALE OF NOT TO EXCEED $18,400,000.00 AGGREGATE PRINCIPAL AMOUNT OF TAX APPEAL REFUNDING NOTES, SPECIAL EMERGENCY NOTES AND REFUNDING NOTES OF THE CITY OF NEWARK, IN THE COUNTY OF ESSEX, STATE OF NEW JERSEY
Additional Information:
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WHEREAS, the Municipal Council of the City of Newark, in the County of Essex, New Jersey (the "City"), has previously adopted the following ordinances which authorized the issuance of tax appeal refunding notes of the City: Ordinance No. 6PS&Fa(S-1) finally adopted by the Municipal Council of the City on December 9, 2008, Ordinance No. 6PSF-d finally adopted by the Municipal Council of the City on November 22, 2011, Ordinance No. 6PSF-e finally adopted by the Municipal Council of the City on October 15, 2014 and Ordinance No. 6PSF-d finally adopted by the Municipal Council of the City on October 21, 2015 (collectively, the "TARN Ordinances"); and
WHEREAS, the Municipal Council of the City has previously adopted the following ordinance and resolution which authorized the issuance of special emergency notes of the City: Ordinance No. 6PSF-g finally adopted by the Municipal Council of the City on June 2, 2011; and Resolution No. 7R1-j adopted by the Municipal Council of the City on September 8, 2011 (collectively, the "SEN Legislation"); and
WHEREAS, the Municipal Council of the City has previously adopted the following ordinance which authorized the issuance of refunding notes of the City: Ordinance No. 6PFSF-d(S) finally adopted by the M...
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