Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Preliminary/Official Statement, Disclosure Agreement and Note Purchase Agreement for Issuance of Notes
Purpose: Approving official statement, disclosure agreement and note purchase agreement for sale of bond anticipation notes, refunding notes and tax appeal refunding notes
Amount to be Financed: $17,752,000.00
Project Information:
(Description/ Project No./Amount Appropriated/Ordinance No.)
Additional Information:
Tax Appeal Refunding Notes, $11,384,000.00
Special Emergency Notes, $ 2,774,000.00
Refunding Notes, $ 3,594,000.00
Total Aggregate Amount Not to Exceed $17,752,000.00.
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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 and Ordinance No. 6PSF-e finally adopted by the Municipal Council of the City on October 15, 2014 (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 Municipal Council of the City on July 23, 2013 (t...
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