Bond Ordinance Statements and Summary – Elk Twp Glou County, NJ
Published week of 12/10/2020 Print Edition
The bond ordinance, the summary terms of which are included herein, has been finally adopted by the Township Committee of the Township of Elk, County of Gloucester, State of New Jersey on December 3, 2020 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 Elk Township Municipal Building at 680 Whig Lane, Monroeville, New Jersey, for members of the general public who request the same. The summary of the terms of such bond ordinance follows:
Title: BOND ORDINANCE PROVIDING FOR THE ACQUISITION OF HEAVY DUTY TRASH RECEPTACLES FOR THE TOWNSHIP OF ELK, COUNTY OF GLOUCESTER, NEW JERSEY; APPROPRIATING THE SUM OF $115,000 THEREFOR; AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OR BOND ANTICIPATION NOTES OF THE TOWNSHIP OF ELK, COUNTY OF GLOUCESTER, NEW JERSEY, IN THE AGGREGATE PRINCIPAL AMOUNT OF UP TO $109,250; MAKING CERTAIN DETERMINATIONS AND COVENANTS; AND AUTHORIZING CERTAIN RELATED ACTIONS IN CONNECTION WITH THE FOREGOING Estimated Down Amount of Period of Purpose/Improvement Total Cost Payment Obligations Usefulness A. Acquisition of Heavy Duty Trash Receptacles; together $115,000 $5,750 $109,250 5 years with the acquisition of all materials and equipment and completion of all work necessary therefore or related thereto Appropriation: $115,000 Bonds/Notes Authorized: $109,250 Grants (if any) Appropriated: N/A Section 20 Costs: $25,000 Useful Life: 5.00 years DEBORA R. PINE, RMC, CMC, Township Clerk This Notice is published pursuant to N.J.S.A. 40A:2-17.5