>VILLAGE OF RIDGEWOOD ORDINANCE NO. 3303 BOND ORDINANCE STATEMENT AND SUMMARY
The bond ordinance, the summary terms of which are included herein, has been finally adopted by the Village of Ridgewood, in the County of Bergen, State of New Jersey on August 10, 2011 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 Providing for the Acquisition of Various Equipment for the Water Utility of the Village of Ridgewood, in the County of Bergen, New Jersey, Appropriating the Aggregate Amount of $869,789 Therefor and Authorizing the Issuance of $826,300 Bonds or Notes of the Village to Finance Part of the Cost Thereof.”
Purposes:
Estimated
Appropriation Maximum of and Estimated of Bonds or Period of Purpose Cost Notes Usefulness
a) The acquisition and installation of meters for the water utility, including all related costs and expenditures incidental thereto and further including all work and materials necessary therefor and incidental thereto. $791,540 $751,963 10 years b) The acquisition and maintenance of a vehicle for the water utility, including all related costs and expenditures incidental thereto and further including all work and materials necessary therefor and incidental thereto. $26,153 $24,846 5 years c) The acquisition of a test bench for the water utility, including all related costs and expenditures incidental thereto. $52,096 $49,491 5 years
TOTALS $869,789 $826,300
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Appropriation: $869,789
Bonds/Notes Authorized: $826,300
Grant Appropriated: N/A
Section 20 Costs: $35,000
Useful Life: 9.55 years
Heather A. Mailander
Village Clerk
Ridgewood News-3117661
Fee: $53.11
July 15, 2011
