BOROUGH OF CLAYTON, GLOUCESTER COUNTY, NJ – BOND ORDINANCE 20-2024
BOND ORDINANCE 20-2024
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 ACQUISITIONOF 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 -Estimate Down Amount Period of Purpose/Improvement Payment of Usefulness Total Obligations Cost- A – Redevelopment of Wells #3, #5, and #6, $88,000 – $0 $88,000 40 years. together with the acquisition of all materials and equipment and completion of all work necessary therefor or related thereto B: Acquisition and Installation of a Fuel 27,500 27,500 15 years. Management System and Related Equipment, together with the acquisition of all materials and completion of all work necessary therefore or related thereto: Replacement of Various Water Mains, $181,500 – 0 – $181,500 – 40 years together with the acquisition of all materials and equipment and completion of all work necessary therefor or related thereto: D – Sewer System Replacement, together with $240,000 – 0- $240,000 – 40 years, the acquisition of all materials and equipment and completion of all work necessary therefor or related thereto: E- Manhole Repair and Replacement at $66,000- 0 – $66,000 – 40 years various locations in the Borough, together with the acquisition of all materials and equipment and completion of all work necessary therefor or related thereto F – Acquisition and Installation of Nitrate $ 36,000 – 0 – 36,000 – 5 years. Exchanger Media, together with the acquisition of all materials and completion of all work necessary therefor or related thereto 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 in The Sentinel of Gloucester County Newspaper Print Edition Week of 8/15/2024
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