2004 Proposed Ordinances of Wantage Township

NOTICE OF PENDING BOND ORDINANCE AND SUMMARY

The bond ordinance, the summary terms of which are included herein, was introduced and passed upon first reading at a meeting of the governing body of the Township of Wantage, in the County of Sussex, State of New Jersey, on February 12, 2004. It will be further considered for final passage, after public hearing thereon, at a meeting of the governing body to be held at the Wantage Township Municipal building, 888 Route 23 in the Township on February 26, 2004 at 8:00 p.m. During the week prior to and up to and including the date of such meeting, copies of the full ordinance will be available at no cost and during regular business hours at the Administrator Clerk's office for the members of the general public who shall request the same. The summary of the terms of such bond ordinance follows:

Title: "Bond Ordinance Providing for Various Capital Improvements of the Township of Wantage, in the County of Sussex, New Jersey, Appropriating the Aggregate Amount of $1,207,500 Therefor and Authorizing the Issuance of $1,147,125 Bonds or Notes of the Township to Finance Part of the Cost Thereof."

Purpose(s):

Purpose Appropriation and Estimated Cost Estimated
Maximum Amount
of Bonds or Notes
Period of
Usefulness
a) Acquisition of various vehicles, including an ambulance, a street sweeper and a dump truck, including all related costs and expenditures incidental thereto. $494,500 $469,775 5 years
b) Acquisition of a fire vehicle, including all related costs and expenditures incidental thereto. $253,000 $240,350 10 years
c) Improvements to Pigeon Hill Road, including all work and materials necessary therefor and incidental thereto. $172,500 $163,875 10 years
d) Improvements to the Municipal Building, including all work and materials necessary therefor and incidental thereto. $287.500 $273.125 15 years
TOTALS $1,207,500 $1,147,125