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 Lodi, in the County of Bergen, State of New Jersey, on September 16, 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: ORD. NO. 2025-15 Title: BOND ORDINANCE TO AUTHORIZE THE UNDERTAKING OF SANITARY SEWER SYSTEM IMPROVEMENTS AT VARIOUS LOCATIONS IN, BY AND FOR THE BOROUGH OF LODI, IN THE COUNTY OF BERGEN, STATE OF NEW JERSEY, TO APPROPRIATE THE SUM OF $300,000 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. Purpose(s): Undertaking of improvements to the sanitary sewer system at various locations in, by and for the Borough. Appropriation: $300,000 Bonds/Notes Authorized: $285,000 Grants (if any) Appropriated: $-0- Section 20 Costs: $75,000 Useful Life: 40 years September 22 2025 LNYS0373821 $36.08