Title
ORDINANCE OF THE CITY OF NEWARK, IN THE COUNTY OF ESSEX, STATE OF NEW JERSEY, PROVIDING FOR A SPECIAL EMERGENCY APPROPRIATION OF $6,000,000.00 FOR THE PREPARATION AND EXECUTION OF A COMPLETE PROGRAM OF REVALUATION OF REAL PROPERTY FOR THE USE OF THE LOCAL ASSESSOR PURSUANT TO THE PROVISIONS OF N.J.S.A. 40A:4-53(b).
body
WHEREAS, N.J.S.A. 40A:4-53(b) provides that a municipality may adopt an ordinance providing for a special emergency appropriation for the preparation and execution of a complete program of revaluation of real property for the use of the local assessor of the City of Newark; and
WHEREAS, the Municipal Council of the City of Newark, in the County of Essex, New Jersey has determined to undertake the preparation of a complete program of revaluation of real property for the use of the local assessor of the City of Newark; and
WHEREAS, the estimated cost of preparing and executing a complete program of revaluation of real property is Six Million Dollars and Zero Cents ($6,000,000.00).
NOW, THEREFORE, BE IT ORDAINED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, IN THE COUNTY OF ESSEX, NEW JERSEY (NOT LESS THAN 2/3RD OF THE FULL GOVERNING BODY CONCURRING), THAT:
SECTION 1. Pursuant to N.J.S.A. 40A:4-53(b), the sum of Six Million Dollars and Zero Cents ($6,000,000.00) is hereby appropriated for the preparation and execution of a complete program of revaluation of real property for the use of the local assessor of the City of Newark, and the same shall be deemed a special emergency appropriation as provided for in N.J.S.A. 40A:4-55.
SECTION 2. The authorization to finance the appropriation shall be provided for in succeeding annual budgets by the inclusion of at least one fifth of the amount appropriated pursuant to N.J.S.A. 40A:4-55.
SECTION 3. For the purpose of financing the special emergency appropriation referred to in Section 1 above, special emergency notes of the City ...
Click here for full text