BOND ORDINANCE 19-2024
Notice of Pending Bond Ordinance and Summary . The bond ordinance, the summary terms of which are included herein, was introduced and passed upon first reading at a meeting of the Mayor and Borough Council of the Borough of Clayton, in the County of Gloucester, State of New Jersey, on August 8, 2024. It will be further considered for final passage, after public hearing thereon, at a meeting of the Mayor and Borough Council to be held at the Clayton Borough Municipal Building, 125 North Delsea Drive, Clayton, New Jersey, on September 12, 2024 at 6:30 o’clock PM. During the week prior to and up to and including the date of such meeting copies of the full ordinance will be available at no cost and during regular business hours, at the Borough Clerk’s office for the members of the general public who shall request the same. The summary of the terms of such bond ordinance follows: Title: BOND ORDINANCE AUTHORIZING THE ACQUISITION OF VARIOUS CAPITAL EQUIPMENT AND THE COMPLETION OF VARIOUS CAPITAL IMPROVEMENTS IN AND FOR THE BOROUGH OF CLAYTON, COUNTY OF GLOUCESTER, NEW JERSEY; APPROPRIATING THE SUM OF $872,300 THEREFOR; AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OR BOND ANTICIPATION NOTES OF THE BOROUGH OF CLAYTON, COUNTY OF GLOUCESTER, NEW JERSEY, INTHE AGGREGATE PRINCIPAL AMOUNT OF UP TO $828,685 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 Acquisition of Various Equipment for the $132,000 $6,600 $125,400 5 years Public Works Department including, but not limited to, a Chipper, together with the acquisition of all materials and completion of all work necessary therefor or related thereto B Acquisition of Various Equipment for the 84,700 4,235 80,465 5 years, Fire Department including, but not limited to, Turn-Out Gear and Portable Radios, together with the acquisition of all materials and completion of all work necessary therefor or related thereto: C – Acquisition of a Fire Ladder for the Fire 78,100 – 3,905 – 74,195 – 15 years; Department, together with the acquisition of all materials and completion of all work necessary therefor or related thereto: D – Rehabilitation of and Repairs to Fire 16,500 – 825 – 15,675 – 5 years, – Truck, together with the acquisition of all materials and completion of all work necessary therefor or related thereto: E. – Resurfacing and Repaving of Various – $203,500 – $10,175 – $193,325 – 10 years – Streets and Roads, together with the – acquisition of all materials and equipment and completion of all work necessary therefor or related thereto, all as more specifically described in the information on file and available for review in the office of the Borough Clerk – F. Acquisition and Installation of a Fuel 27,500 – 1,375 – 26,125 – 15 years – Management System and Related Equipment, together with the acquisition of all materials and completion of all work necessary therefor or related thereto: G – Acquisition of Trash Carts, together with 330,000 – 16,500 – 313,500 – 15 years. the acquisition of all materials and completion of all work necessary therefor or related thereto Appropriation: $872,300. Bonds/Notes Authorized: $828,625 – Grants (if any) Appropriated: $0. Section 20 Costs: $79,300 – Useful Life: 11.16 years – CHRISTINE NEWCOMB, Borough Clerk This Notice is published pursuant to N.J.S.A.40A:2-17.
Published in The Sentinel of Gloucester County Weekly Newspaper Print Edition Week of 8/15/2024
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