10/19/2010 1:41:10 PM
10/8/2010 5:06:24 PM
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ORDINANCE 89 -21 <br />BOND ORDINANCE APPROPRIATING $385,200.00 <br />AND AUTHORIZING THE ISSUANCE OF $364,000.00 <br />BONDS OR NOTES OF THE TOWNSHIP FOR VARIOUS <br />IMPROVEMENTS OR PURPOSES AUTHORIZED TO BE <br />UNDERTAKEN BY THE TOWNSHIP OF CHERRY HILL IN <br />THE COUNTY OF CAMDEN, NEW JERSEY <br />BE IT ORDAINED, by the Township Council of the Township of Cherry <br />Hill, in the County of Camden, New Jersey (not less than two - thirds <br />Of all the members thereof affirmatively concurring), as follows: <br />Section 1. The improvements or purposes described in Section <br />3 Of this bond ordinance are hereby authorized as general improvements <br />to be made or acquired by the Township of Cherry Hill, in the County <br />Of Camden, New Jersey. For the said improvements or purposes <br />described in said Section 3, there is hereby appropriated the sum <br />Of $385,200.00 including the aggregate sum of $21,200.00 as the <br />down payment for said improvements or purposes required by law and <br />now available therefore by virtue of provisions in a previously <br />adopted budget or budgets of the Township for down payment or for <br />capital improvement purposes. <br />Section 2. For the financing of said improvements or purposes, <br />and to meet the part of said $385,200.00 appropriation not provided <br />for by application hereunder of said down payment, negotiable bonds <br />Of the Township are hereby authorized to be issued in the principal <br />amount of $364,000.00 pursuant to the Local Bond Law of New Jersey. <br />In anticipation of the issuance of said bonds and to temporarily <br />finance said improvements or purposes, negotiable notes of the <br />Township in a principal amount not exceeding $364,000.00 are hereby <br />authorized to be issued pursuant to and within the limitations <br />Prescribed by said Law. <br />Section 3. The improvements hereby authorized and the several <br />purposes for financing of which said obligations are to be issued, <br />appropriation made for and estimated cost of each such purpose, <br />a nd the estimated maximum amount of bonds or notes to be issued for <br />such purposes, are respectively as follows: <br />Appropriation Estimated <br />and Maximum Amount <br />im rovement or Purpose Estimated Cost of Bonds or Notes <br />( a) Acquisition by purchase and <br />t he installation of additional <br />and /or replacement equipment <br />i ncluding: <br />1 ) Tax Map Data Base <br />2) Street Light Replacement <br />3 ) Senior Citizen Vehicle <br />4 <br />Audio & Recording System <br />$385,200.00 . $364,000.00 <br />
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