File #: 09-1116    Version: 1 Name:
Type: Resolution Status: Adopted
File created: 7/22/2009 In control: Finance
On agenda: 8/5/2009 Final action: 8/5/2009
Title: Dept/ Agency: Finance Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Declaring official intent to reimburse the City of Newark for costs prior to Insurance of Debt Purpose: Intent to reimburse expenditures to City for project costs from proceeds of debt obligations issue by the City Amount to be Financed: $19,750,000.00 Source of Appropriation: Bonds issued to NJET and State of New Jersey Additional Information: Description: 1. Rehabilitation of distribution system water mains by cleaning and cement mortar lining of approximately 85,000 linear feet of 6 inch, 8 inch and 12 inch mains and replacement of broken valves and appurtenances throughout the City. 2. Replacement of approximately 32,000 linear feet of small diameter 4 inch distribution water mains with 6 inch and 8 inch mains; replacement of broken valves and appurtanances throughout the City. DEP Project Number: 1. 0714001-005 2. 0714001-006 Amount Appropriated: 1. $12,000,000.00 2. $7,750,00...

Title

Dept/ Agency: Finance

Action:  (   ) Ratifying     (X) Authorizing     (  ) Amending

Type of Service:  Declaring official intent to reimburse the City of Newark for costs prior to Insurance of Debt

Purpose: Intent to reimburse expenditures to City for project costs from proceeds of debt obligations issue by the City

Amount to be Financed:  $19,750,000.00

Source of Appropriation:  Bonds issued to NJET and State of New Jersey

Additional Information:

Description:

1. Rehabilitation of distribution system water mains by cleaning and cement mortar lining of approximately 85,000 linear feet of 6 inch, 8 inch and 12 inch mains and replacement of broken valves and appurtenances throughout the City.

2. Replacement of approximately 32,000 linear feet of small diameter 4 inch distribution water mains with 6 inch and 8 inch mains; replacement of broken valves and appurtanances throughout the City.

DEP Project Number:

1. 0714001-005

2. 0714001-006

Amount Appropriated:

1. $12,000,000.00

2. $7,750,000.00

Ordinance Numbers:

1. 6PSF-C06172009

2. 6PSF-C06172009

Invitation: Finance Director and Bond Counsel, August 4, 2009