Share to Facebook Share to Twitter Bookmark and Share
File #: 19-1144    Version: 1 Name: Ordinance: Refunding Bond Ordinance Water Utility Bonds
Type: Ordinance Status: Adopted
File created: 7/2/2019 In control: Finance
On agenda: 7/23/2019 Final action: 10/22/2019
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
Sponsors: Council of the Whole
Attachments: 1. 19-1144 certified Ordinance.pdf
Related files: 19-1143, 19-1142, 19-1141
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
10/22/20191 Municipal Council closed on public hearing and adoptedPass Action details Meeting details Video Video
10/16/20191 Municipal Council deferred to a special meetingPass Action details Meeting details Video Video
10/2/20191 Municipal Council    Not available Meeting details Video Video
9/18/20191 Municipal Council    Not available Meeting details Video Video
9/5/20191 Municipal Council maintained on public hearing and deferredPass Action details Meeting details Video Video
8/20/20191 Municipal Council maintained on public hearing and deferredPass Action details Meeting details Video Video
8/7/20191 Municipal Council maintained on public hearing and deferred to Special meetingPass Action details Meeting details Video Video
7/23/20191 Municipal Council Advanced and adopted on first readingPass Action details Meeting details Not available
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

body

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...

Click here for full text