BOROUGH OF ELMWOOD PARK

ORDINANCE 26-20

BOND ORDINANCE STATEMENT AND SUMMARY

The bond ordinance, the summary terms of which are included herein, has been finally adopted by the Borough Council of the Borough of Elmwood Park, in the County of Bergen, State of New Jersey, on September 3, 2026, and the 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 by its posting on the Borough’s official Internet website.  Copies of the full ordinance are available, at no cost and during regular business hours, at the 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 TO APPROPRIATE AN ADDITIONAL SUM OF $135,000 FOR THE CONSTRUCTION OF A REPLACEMENT SALT SHED AT THE DEPARTMENT OF PUBLIC WORKS FACILITY IN, BY AND FOR THE BOROUGH OF ELMWOOD PARK, IN THE COUNTY OF BERGEN, NEW JERSEY, TO MAKE A DOWN PAYMENT, TO AUTHORIZE THE ISSUANCE OF BONDS TO FINANCE SUCH ADDITIONAL APPROPRIATION AND TO PROVIDE FOR THE ISSUANCE OF BOND ANTICIPATION NOTES IN ANTICIPATION OF THE ISSUANCE OF SUCH BONDS.

Purpose(s):  Supplemental funding for the construction of a replacement salt shed at the Department of Public Works Facility in, by and for said Borough.

Appropriation:  $135,000

Bonds/Notes Authorized:  $128,500

Grants (if any) Appropriated:  $-0-

Section 20 Costs:  $-0-

Useful Life:  20 years

Borough of Elmwood Park
Shanee Morris, RMC, CMR
Borough Clerk