26-0005
Dept/ Agency: Finance Action: ( ) Ratifying (X) Authorizing ( ) Amending Purpose: Application to Local Finance Board for approval of bond ordinance Name of Project(s): Emergency Temporary Appropriation - Refunding Bonds Amount to be Financed: $30,100,000.00 Funding Source: Bonds and/or Bond Anticipation Notes Local Finance Board meeting date(s): February 12, 2026 Project Information: (Description/ Project No./ Amount Appropriated/Ordinance No.) RESOLUTION OF THE CITY OF NEWARK, IN THE COUNTY OF ESSEX, STATE OF NEW JERSEY (THE “CITY”) AUTHORIZING THE SUBMISSION OF AN APPLICATION TO THE LOCAL FINANCE BOARD (A) PURSUANT TO N.J.S.A. 40A:2-51 AND N.J.S.A. 40A:2-55 IN CONNECTION WITH THE ISSUANCE OF NOT TO EXCEED $30,100,000.00 AGGREGATE PRINCIPAL AMOUNT OF REFUNDING BONDS AND/OR REFUNDING NOTES TO FUND AN EMERGENCY TEMPORARY APPROPRIATION TO REPAY A LOAN IN THE AMOUNT OF $30,000,000.00 RECEIVED FROM THE DIVISION OF LOCAL GOVERNMENT SERVICES WITHIN THE DEPARTMENT OF COMMUNITY AFFAIRS OF THE STATE OF NEW JERSEY, AND (B) FOR THE APPROVAL OF A REFUNDING BOND ORDINANCE OF THE CITY PURSUANT TO THE PROVISIONS OF THE MUNICIPAL QUALIFIED BOND ACT, N.J.S.A. 40A:3-1 ET SEQ. (THE “ACT”) Additional Information:
- Committee
- Finance
- Introduced
- January 2, 2026
- On agenda
- January 7, 2026
- Passed
- January 7, 2026