Ordinance 2723-25: Bond Ordinance - Adopted 12/16/2025

PUBLIC NOTICE
ORDINANCE NO. 2723-25
BOND ORDINANCE STATEMENT AND SUMMARY

The bond ordinance, the summary terms of which are included herein, has been finally adopted by the Township Committee of the Township of Millburn, in the County of Essex, State of New Jersey, on December 16, 2025, and the 20-day period of limitation within which a suit, action or proceeding questioning the validity of such ordinance can be commenced, as provided in the Local Bond Law, has begun to run from the date of the first publication of this statement.  Copies of the full ordinance are available, at no cost and during regular business hours, at the Clerk's office for members of the general public who request the same.  The summary of the terms of such bond ordinance follows:

Title:  BOND ORDINANCE TO APPROPRIATE AN ADDITIONAL SUM OF $3,500,000 FOR THE TOWN HALL RENOVATION AND ADDITION PROJECT IN, BY AND FOR THE TOWNSHIP OF MILLBURN, IN THE COUNTY OF ESSEX, NEW JERSEY, TO MAKE A DOWN PAYMENT, TO AUTHORIZE THE ISSUANCE OF BONDS TO FINANCE SUCH ADDITIONAL APPROPRIATION AND TO PROVIDE FOR THE ISSUANCE OF BOND ANTICIPATION NOTES IN ANTICIPATION OF THE ISSUANCE OF SUCH BONDS.

Purpose(s):  Supplemental funding for the undertaking of the Town Hall Renovation and Addition Project in, by and for the Township.

Appropriation: $3,500,000
Bonds/Notes Authorized: $3,325,000
Grants (if any) Appropriated: $-0-
Section 20 Costs: $-0-
Useful Life: 15 years

BY ORDER OF THE TOWNSHIP COMMITTEE
Christine A. Gatti, RMC
Millburn Township Clerk