Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Special Emergency Appropriation
Purpose: Authorizing the issuance of Special Emergency Notes
Funding Source: City of Newark Budget
Appropriation Amount: $4,000,000.00 ($800,000.00 each year)
Budget Year: 2010 through 2014
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a
Additional Information:
Providing for the financing of a $4,000,000.00 Special Emergency Appropriation, which was approved by ordinance 6PSF-i 100709 and must be retired in annual installments of $800,000.00 commencing in the 2010 Fiscal Year, through the issuance of Special Emergency Notes.
Operating Agency: Finance
Two-Thirds vote of full membership required.
Deferred 7R5-g(as)051910