25-0364
Dept/ Agency: Finance Action: ( ) Ratifying (X) Authorizing ( ) Amending Purpose: Confirming Bond Sale Amount to be Financed: $31,000,000.00 Source of Appropriation: Bonds Purchaser: Open Market Project Information: (Description/ Project No./Amount Appropriated/Ordinance No.) RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF NOT TO EXCEED $31,000,000.00 AGGREGATE PRINCIPAL AMOUNT OF QUALIFIED GENERAL OBLIGATION REFUNDING BONDS, CONSISTING OF (A) NOT TO EXCEED $29,000,000.00 QUALIFIED GENERAL IMPROVEMENT REFUNDING BONDS, SERIES 2025A AND (B) NOT TO EXCEED $2,000,000.00 QUALIFIED SCHOOL REFUNDING BONDS, SERIES 2025B OF THE CITY OF NEWARK, IN THE COUNTY OF ESSEX, STATE OF NEW JERSEY (THE “CITY”) PURSUANT TO THE PROVISIONS OF THE MUNICIPAL QUALIFIED BOND ACT OF THE CITY, AUTHORIZED BY A REFUNDING BOND ORDINANCE FINALLY ADOPTED BY THE MUNICIPAL COUNCIL OF THE CITY ON DECEMBER 18, 2024, TO REFUND CERTAIN OUTSTANDING BONDS OF THE CITY ISSUED IN 2015, AND PROVIDING FOR THE FORM AND OTHER DETAILS WITH RESPECT TO THE SALE AND ISSUANCE OF SAID REFUNDING BONDS Additional Information:
- Committee
- Finance
- Introduced
- March 6, 2025
- On agenda
- March 19, 2025
- Passed
- March 19, 2025
Where it was heard
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