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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 Borough of Prospect Park, in the County of Passaic, State of New Jersey, on June 15, 2020.  It will be further considered for final passage, after public hearing thereon, at a meeting of the governing body to be held at the Borough Council, Municipal Building, 106 Brown Avenue, Prospect Park, New Jersey, in said Borough, on July 20, 2020 at 6:30 o’clock PM.  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 Borough 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 An Appropriation Of $85,000 For Various Capital Improvements For And By The Borough Of Prospect Park, In The County Of Passaic, New Jersey And Authorizing The Issuance Of $80,000 Bonds Or Notes Of The Borough For Financing Part Of The Appropriation.

Purpose(s):.. Road striping of various streets in the Borough, Hofstra Park roads and parking lots; Acquisition of various street signs; Acquisition of refuse cans; and Installation of keyless entry for the Police Department.

Appropriation:  $85,000

Bonds/Notes Authorized:  $80,000

Grants (if any) Appropriated:  N/A

Section 20 Costs:  $10,000

Useful Life:  11.41 years

This Notice is published pursuant to N.J.S.A. 40A:2-17.

Borough of Prospect Park
Erin N. Delaney, MPA, RMC
Borough Clerk