BOROUGH OF PROSPECT PARK PASSAIC COUNTY, NEW JERSEY PUBLIC NOTICE

The bond ordinance, the summary terms of which are included herein, has been finally adopted by the Borough of Prospect Park, in the County of Passaic, State of New Jersey on July 15, 2024, 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 Borough 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 An Appropriation Of $1,400,000 For Various Improvements For And By The Borough Of Prospect Park, In The County Of Passaic, New Jersey And Authorizing The Issuance Of $1,330,000 Bonds Or Notes Of The Borough For Financing Part Of The Appropriation.
Purpose(s): Hopper Street Sewer Main Improvements; North 6th Street Sewer Main Improvements; Borough-wide Sanitary Sewer Mapping; and Borough-wide Storm Sewer Mapping.
Appropriation: $1,400,000
Bonds/Notes Authorized: $1,330,000
Grants (if any) Appropriated: $223,000 expected to be received from the Environmental
Protection Agency in connection with Hopper Street Sewer Main Improvements,
$442,000 expected to be received from the Environmental Protection Agency in connection with North 6th Street Sewer Main Improvements and $25,000 expected to be received from the New Jersey Department Environmental Protection in connection with Borough-wide Storm Sewer Mapping
Section 20 Costs: $477,000
Useful Life: 38.07 years

Fahim K. Abedrabbo, Acting Borough Clerk

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