ORDINANCE 20-2024
Bond Ordinance Statements and Summary
The bond ordinance, the summary terms of which are included herein, has been finally
adopted by the Mayor and Borough Council of the Borough of Clayton, in the County of
Gloucester, State of New Jersey on September 12, 2024 and the twenty (20) day period of
limitation within which a suit, action or proceeding questioning the validity of such ordinance
can be commenced, as provided in the Local Bond Law, has begun to run from the date of the
first publication of this statement. Copies of the full ordinance are available at no cost and
during regular business hours, at the Borough Clerk’s office for members of the general public
who request the same. The summary of the terms of such bond ordinance follows:
Title: BOND ORDINANCE AUTHORIZING THE ACQUISITION OF VARIOUS PIECES OF WATER/SEWER CAPITAL EQUIPMENT AND THE COMPLETION OF VARIOUS WATER/SEWER CAPITAL IMPROVEMENTS IN AND FOR THE BOROUGH OF CLAYTON, COUNTY OF GLOUCESTER, NEW JERSEY WATER/SEWER SYSTEM; APPROPRIATING THE SUM OF $639,000 THEREFOR; AUTHORIZING THE ISSUANCE OF GENERAL
OBLIGATION BONDS OR BOND ANTICIPATION NOTES OF THE BOROUGH OF CLAYTON, COUNTY OF GLOUCESTER, NEW JERSEY, IN THE AGGREGATE PRINCIPAL AMOUNT OF UP TO $639,000 MAKING CERTAIN DETERMINATIONS AND COVENANTS; AND AUTHORIZING CERTAIN RELATED ACTIONS IN
CONNECTION WITH THE FOREGOING
Purpose/Improvement
Estimated Total Cost Down Payment
Amount of Obligations Period of Usefulness A. Redevelopment of Wells #3, #5, and #6,
together with the acquisition of all materials and equipment and completion of all work necessary therefor or related thereto $88,000 $0 $88,000 40 years
B. Acquisition and Installation of a Fuel Management System and Related Equipment, together with the acquisition of all materials and completion of all work necessary therefor or related thereto 27,500 0 27,500 15 years
C. Replacement of Various Water Mains, together with the acquisition of all materials and equipment and completion of all work necessary therefor or related 181,500 0 181,500 40 years thereto
D. Sewer System Replacement, together with the acquisition of all materials and equipment and completion of all work necessary therefor or related thereto 240,000 0 240,000 40 years
E Manhole Repair and Replacement at various locations in the Borough, together with the acquisition of all materials and equipment and completion of all work necessary therefor or related thereto 66,000 0 66,000 40 years
F. Acquisition and Installation of Nitrate Exchanger Media, together with the acquisition of all materials and completion of all work necessary therefor or related thereto 36,000 0 36,000 5 years Appropriation: $639,000 Bonds/Notes Authorized: $639,000 Grants (if any) Appropriated: $0 Section 20 Costs: $79,000
Useful Life: 36.95 years
CHRISTINE NEWCOMB, Borough Clerk
This Notice is published pursuant to N.J.S.A. 40A:2-17.
(Published Sentinel of Gloucester County Newspaper Week of 9/19/2024 Printed Edition)
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