Title
AN ORDINANCE OF THE CITY OF NEWARK, IN THE COUNTY OF ESSEX, NEW JERSEY, PROVIDING FOR THE LEAD SERVICE LINE REPLACEMENT PROGRAM AND APPROPRIATING $75,000,000.00 THEREFOR, AND PROVIDING FOR THE ISSUANCE OF $75,000,000.00 IN BONDS OR NOTES OF THE CITY OF NEWARK TO FINANCE THE SAME.
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WHEREAS, the Department of Water and Sewer Utilities of the City of Newark, with the assistance of CDM Smith, has heretofore prepared and filed with the New Jersey Infrastructure Bank (the "NJIB") and the New Jersey Department of Environmental Protection (the "NJDEP") a Planning Document for Environmental Decision Document pertaining to a Lead Service Line Replacement Program in the City of Newark (as the same may hereafter be modified or amended, the "Planning Document"), involving the replacement of full or partial lead service lines serviced by the City's water distribution system; and
WHEREAS, the lead service lines connect to the City's water distribution system, but are owned by the property owner; and
WHEREAS, the Planning Document contemplates that the lead service lines will be replaced in ten (10) phases over a projected 8-year period; and
WHEREAS, the City has filed an application with the NJIB and the NJDEP under the State Water Bank Financing Program for the financing of Phase I of the lead service line replacement program; and
WHEREAS, Senators Rice and Ruiz have sponsored and introduced legislation in the New Jersey Senate identified as Senate Bill 2695 and Assemblywomen Pintor, Marin and Tucker have sponsored and introduced legislation in the New Jersey General Assembly identified as Assembly Bill 4120 (said legislation, together with any amended, similar or substitute legislation, the "Proposed Legislation"), authorizing, among other things, municipalities, including the City, to construct, reconstruct and finance the replacement of service connections to a publicly-owned water system, from the d...
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