Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Preliminary/Official Statement, Continuing Disclosure Certificate and Note Purchase Contract for Issuance of Notes
Purpose: Approving official statement, continuing disclosure certificate and note purchase contract for sale of general obligation notes
Amount to be Financed: $57,014,000.00
Project Information:
(Description/ Project No./Amount Appropriated/Ordinance No.)
General Improvement Bond Anticipation Notes, Series 2014B and School Promissory Notes, 2014C
Additional Information:
Rollover and paydown of existing Notes related to General Improvements in the amount of $33,328,000.00 (Series 2013D Notes), General Improvements in the amount of $15,167,000.00 (Series 2013B) and School Promissory Notes in the amount of $5,150,000.00 (Series 2013C) and $4,600,000.00 in new money for general improvements
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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 general improvement notes of the City: Ordinance No. 6S&FC, adopted on November 14, 2005, as amended by Ordinance No. 6PSFA, adopted on September 2, 2009, Ordinance No. 6S&FA, adopted on February 27, 2007, as amended by Ordinance No. 6S&FF, adopted on August 1, 2007, Ordinance No. 6S&FA (S-2), adopted on October 23, 2007, as amended by Ordinance No. 6PSFA, adopted on September 2, 2009, and by Ordinance No. 6PSF-A, adopted on November 18, 2013, and Ordinance No. 6S&FA, adopted on May 17, 2006 (collectively, the "General Improvement Ordinances"); and
WHEREAS, the Municipal Council of the City has previously adopted the following Ordinances, which authorized the issuance of school notes of the City: Ordinance No. 6S&FA, adopted on April 6, 2005, as amended by Ordinance No. 6S&FN, adopted on April 19, 2006, Ordinance No. 6S&FH, ad...
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