3/4/2010 4:35 PM

-1

*

10

3/4/2010 4:35 PM

PROVIDING

REFUNDING CERTAIN GENERAL OBLIGATION

OF THE BOROUGH OF ROSELLE NEW JERSEY,

APPROPRIATING $2,400,000 THEREFOR

THE ISSUANCE $2,400,000 BONDS

THE

ARE CONSIDERED TO BE COUNCIL WILL BE

************************************* ****************************************

******************* ****

***

** ************ ***** ********************

to

*

*

to

*

3/4/2010 4:35 PM

*

MOTION:

ARTICLE 7-16.1 RESTRICTIONS FOR

BE IT ORDAINED by the Mayor Council of the Borough of Roselle Park, County

that Chapter VII, 16. the of the Borough IS

are

The Borough (the "Borough") is

to pay an amount not $2,400,000 including

premium, of 187,000 principal amount of the Obligation

issued in the original principal amount of $4,167,000, dated April 2001, (i)

which consists $3,750,000 Improvement Bonds which bonds are subject to

redemption (on or after April 1, 2009) prior to their stated dates of maturity, and which mature

1, in each of the 2011 to 2015 in an amount of $2,000,000 inclusive;

(ii) 17,000 Utility which are to redemption

or after April 1, 2009) prior to which mature on April 1, in

of the 2011 to 2015 $187,000 inclusive (the "Refunded

of

The Supplemental Debt required by

nr"'nl'lrpri and filed in the of of the Borough and a complete

duplicate thereof has been filed in the of the Director of the Division of Local Government

Such statement shows that the debt of the Borough as defined in the Local Bond

the authorization of the debt in by

an amount not to $2,400,000 with a maximum deduction from the debt due to the

refunding of the Refunded Bonds $2,187,000). The obligations authorized herein will be

all by Bond Upon of the Bonds and

than the $2,400,000

and filed, with

is

WHEREAS, The Borough of Roselle to

exceed $2,400,000 to finance the cost of refunding certain its April 1, 2001 subject to early redemption (hereinafter called obligations are permitted by the Local Bond Law, and

WHEREAS, pursuant to 40A:2-51, obligations to finance purpose may be

l,,;:'UI;;OI.{. with the consent of Finance Board in the Division of Local Government

in the Department of Community Affairs, which consent is to be endorsed upon a

funds the amount not to Obligation bonds dated which

are not

CERTIFICATE AMT REDEMPTION FEE

RECORDING FEE

SUBSEQUENT PAID

INTEREST ON SUBSEQUENTS

TOTAL AMT TO REDEEM

s

8.47 12.00 40.00 11

$8,624.99

of Borough

the amount $1,100.00

BE IT responsibility to administer program

maintain all documents as be

herewith part of resolution.

that the Borough is herewith delegated the

to enter into all to

the 1 c.l45,a of which is

Signorello 2010 thru "o",r", ... ~

31,

appointed to the position of o

Sign up to vote on this title
UsefulNot useful