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ORDINANCE 1998-20i a ORDINANCE 98- 2 Q AN ORDINANCE AMENDING BOND ORDINANCE 92-20 ENTITLED "BOND ORDINANCE APPROPRIATING $396,000 AND AUTHORIZING THE ISSUANCE OF $377,100 BONDS OR NOTES OF THE TOWNSHIP FOR SIDEWALK IMPROVEMENTS OR PURPOSES AUTHORIZED TO BE UNDERTAKEN BY THE TOWNSHIP OF CHERRY HILL IN THE COUNTY OF CAMDEN, NEW JERSEY" BE IT ORDAINED by the Township Council of the Township of Cherry Hill in the County of Camden, New Jersey (not less than two-thirds of all the members thereof affirmatively concurring), that Bond Ordinance 92 -20, entitled "Bond Ordinance Appropriating $396,000 and Authorizing the Issuance of $377,100 Bonds or Notes of the Township for Sidewalk Improvements or Purposes to be Undertaken by the Township of Cherry Hill, in the County of Camden, New Jersey" be and is hereby amended as follows: SECTION 1. Section 4(d) of Bond Ordinance 92 -20 is amended to read as follows: • Section 4(d). The aggregate amount of not exceeding the sum of $ 108,000 for interest on said obligations, costs of issuing said obligations, engineering costs and other items of expense listed in and permitted under Section 40A:2 -20 of said Law may be included as part of the cost of said improvement and is included in the foregoing estimate thereof. SECTION 2. Section 4 of Bond Ordinance 92 -20 is hereby further amended to add a new subsection (e) as follows: Section (e). The Township reasonably expects to commence acquisition and /or construction of the improvement or purpose described in Section 3 hereof, and to advance all or a portion of the costs in respect thereof, prior to the issuance of bonds or notes hereunder. To the extent such costs are advanced, the Township further reasonably expects to reimburse such expenditures from the proceeds of the bonds or notes authorized by this bond ordinance, in an aggregate amount not to exceed the amount of bonds or notes authorized in Section 2 hereof. SECTION 3. This bond ordinance shall take effect twenty (20) days after its final passage and publication as required by law. INTRODUCED: May 26, 19 9 8 ADOPTED: ARTHtJR SIMQNS, CO CIL PRESIDENT ATTEST: • e o l z-:71-6z MYV C. CLOTH RMC,. TOWNSHIP CLERK c:twp31%a dm1,9IDEWAIX.AMM •