Title
REFUNDING BOND ORDINANCE OF THE CITY OF NEWARK, COUNTY OF ESSEX, STATE OF NEW JERSEY PROVIDING FOR THE REFUNDING OF CERTAIN QUALIFIED WATER UTILITY BONDS, SERIES 2010D, APPROPRIATING AN AMOUNT NOT TO EXCEED $5,500,000.00 THEREFOR AND AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $5,500,000.00 WATER UTILITY REFUNDING BONDS, SERIES 2020, OF THE CITY FOR FINANCING THE COST THEREOF.
Deferred 6PSF-n 080719
Deferred 6PSF-c (s) 082019
Deferred 6PSF-h 090519
Deferred 6PSF-e 091819
Deferred 6PSF-e 100219
Deferred 6PSF-e 101619
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WHEREAS, on June 16, 2010, the City of Newark, in the County of Essex, New Jersey (the "City") issued $5,487,000.00 aggregate principal amount of Qualified Water Utility Bonds, Series 2010D (the "Series 2010D Bonds"); and
WHEREAS, principal amount of Series 2010D Bonds maturing on or after October 1, 2021, to and including 2039 (the "Series 2010D Water Utility Bonds to be Refunded") are subject to redemption on or after October 1, 2020, at the option of the City; and
WHEREAS, the City is desirous of authorizing the refunding of all or a portion of the Series 2010D Water Utility Bonds to be Refunded through the issuance of not to exceed $5,500,000.00 principal amount of Water Utility Refunding Bonds, Series 2020 (the "Water Utility Refunding Bonds, Series 2020") (or such other year and series designation as may be appropriate).
NOW, THEREFORE, BE IT ORDAINED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, IN THE COUNTY OF ESSEX, NEW JERSEY, THAT:
Section 1. Pursuant to the provisions of N.J.S.A. 40A:2-51(a), the City of Newark, in the County of Essex, New Jersey (the "City"), is hereby authorized to refund all or a portion of the City's (A) $4,422,000.00 Qualified Water Utility Bonds, Series 2010D, dated June 16, 2010, maturing on or after October 1, 2021, to and including October 1, 2039 (the "Series 2010D Water Utility Bonds to be Refunded"), such bonds being subject to opti...
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