ORDINANCE 19-2024
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 CAPITAL EQUIPMENT AND THE
COMPLETION OF VARIOUS CAPITAL IMPROVEMENTSIN 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, IN THE AGGREGATE PRINCIPAL AMOUNT OF UP TO $828,685 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. Acquisition of Various Equipment for the 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 $132,000 $6,600 $125,400 5 years
B. Acquisition of Various Equipment for the 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 84,700 4,235 80,465 5 years
C. Acquisition of a Fire Ladder for the Fire Department, together with the acquisition of all materials and completion of all work necessary therefor or related thereto 78,100 3,905 74,195 15 years
D. Rehabilitation of and Repairs to Fire Truck, together with the acquisition of all materials and completion of all work necessary therefor or related thereto 16,500 825 15,675 5 years
E. Resurfacing and Repaving of Various 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 $203,500 $10,175 $193,325 10 years
F. 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 1,375 26,125 15 years
G. Acquisition of Trash Carts, together with the acquisition of all materials and completion of all work necessary therefor or related thereto 330,000 16,500 313,500 15 years TOTAL $872,300 $43,615 $828,625
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 The Sentinel of Glouc County 9/19/2024 Printed Edition $90.00)
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