BOND ORDINANCE STATEMENT AND SUMMARY The bond ordinance, the summary terms of which are included herein, has been finally adopted by the Borough Council of the Borough of Ramsey, in the County of Bergen, State of New Jersey, on August 27, 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 AMEND THE TITLE AND SECTIONS 4, 5, 6, 7, 8, 10 AND 11 OF THE BOND ORDINANCE (ORD. NO. 04-2023) ENTITLED: "BOND ORDINANCE TO AUTHORIZE THE MAKING OF VARIOUS PUBLIC IMPROVEMENTS AND THE ACQUISITION OF A NEW AUTOMOTIVE VEHICLE, INCLUDING ORIGINAL APPARATUS AND EQUIPMENT, IN, BY AND FOR THE BOROUGH OF RAMSEY, IN THE COUNTY OF BERGEN, STATE OF NEW JERSEY, TO APPROPRIATE THE SUM OF $2,721,600 TO PAY THE COST THEREOF, TO MAKE A DOWN PAYMENT, TO AUTHORIZE THE ISSUANCE OF BONDS TO FINANCE SUCH APPROPRIATION AND TO PROVIDE FOR THE ISSUANCE OF BOND ANTICIPATION NOTES IN ANTICIPATION OF THE ISSUANCE OF SUCH BONDS," ADOPTED ON APRIL 26, 2023. Purpose(s): To make the following amendments to Bond Ordinance No. 04-2023 adopted on April 26, 2023: 1. Amend the title to increase the amount appropriated by the ordinance from $2,721,600 to $3,071,600 (an increase of $350,000). 2. Amend Section 4 to (A)(i) increase the appropriation and estimated cost in Section 4.A. from $921,600 to $1,271,600 (an increase of $350,000); (ii) increase the down payment appropriated in Section 4.A. from $43,890 to $60,890 (an increase of $17,000); and (iii) increase the bonds and notes authorized in Section 4.A. from $877,710 to $1,210,710 (an-2-increase of $333,000); and (B)(i) increase the aggregate appropriation and estimated cost for Section 4 from $2,721,600 to $3,071,600 (an increase of $350,000); (ii) increase the aggregate down payment appropriated for Section 4 from $140,000 to $157,000 (an increase of $17,000); and (iii) increase the aggregate amount of bonds and notes authorized in Section 4 from $2,581,600 to $2,914,600 (an increase of $333,000). 3. Amend Section 5 to increase the estimated amount of statutorily permitted expenses included in the amount appropriated from $996,600 to $1,346,600 (an increase of $350,000). 4. Amend Section 6 to increase the down payment appropriated from $140,000 to $157,000 (an increase of $17,000). 5. Amend Section 7 to increase the amount of bonds authorized from $2,581,600 to $2,914,600 (an increase of $333,000). 6. Amend Section 8 to increase the amount of bond anticipation notes authorized from $2,581,600 to $2,914,600 (an increase of $333,000). 7. Amend Section 10 to increase the average period of usefulness of the purposes authorized from 15.89 years to 17.50 years (an increase of 1.61 years). 8. Amend Section 11 to increase the amount of gross debt of the Borough shown on the Supplemental Debt Statement filed for the ordinance, as amended, from $2,581,600 to $2,914,600 (an increase of $333,000). Meredith Bendian, RMC Borough Clerk Borough of Ramsey County of Bergen State of New Jersey September 2 2025 LNYS0361355 $74.80