NOTICE OF PENDING BOND ORDINANCE The bond ordinance published herewith was introduced and passed upon first reading at a meeting of the governing body of the Township of Parsippany-Troy Hills, a municipal corporation of the State of New Jersey (the "Local Unit"), held on May 19, 2026. It will be further considered for final passage, after public hearing thereon, at a meeting of the governing body to be held at municipal building in the Local Unit on June 23, 2026 at 7:00 PM, and during the week prior to and up to and including the date of such meeting, copies of said bond ordinance will be made available at the Clerk's office to the members of the general public who shall request the same. This Notice is published pursuant to N.J.S.A. 40A:2-17. Khaled Madin Clerk, Township of Parsippany TOWNSHIP OF PARSIPPANY-TROY HILLS COUNTY OF MORRIS STATE OF NEW JERSEY ORDINANCE NUMBER 2026:20 BOND ORDINANCE PROVIDING FOR VARIOUS CAPITAL IMPROVEMENTS BY THE TOWNSHIP OF PARSIPPANY-TROY HILLS, APPROPRIATING THE AGGREGATE AMOUNT OF $13,570,000 THEREFOR AND AUTHORIZING THE ISSUANCE OF $13,570,000 BONDS OR NOTES OF THE TOWNSHIP TO FINANCE THE COST THEREOF BE IT ORDAINED BY THE TOWNSHIP COUNCIL OF THE TOWNSHIP OF PARSIPPANY-TROY HILLS (not less than two-thirds of all members thereof affirmatively concurring) AS FOLLOWS: Section 1. The improvements or purposes described in Section 3 of this bond ordinance are hereby authorized to be undertaken by the Township of Parsippany-Troy Hills, a municipal corporation of the State of New Jersey (the "Township") as general improvements. For the improvements or purposes described in Section 3 of this bond ordinance, there is hereby appropriated the sum of $13,570,000 (which is the aggregate amount of the sums of money appropriated for each respective improvement or purpose). No down payment is required by the Local Bond Law because the improvements or purposes authorized herein will be funded by loans from the New Jersey Infrastructure Bank or the State of New Jersey, acting by and through the Department of Environmental Protection (N.J.S.A. 40A:2-11(c)). Section 2. In order to finance the cost of the improvements or purposes described in Section 3 of this bond ordinance, negotiable bonds are hereby authorized to be issued in the principal amount of $13,570,000 pursuant to the Local Bond Law. In anticipation of the issuance of bonds, negotiable bond anticipation notes are hereby authorized to be issued pursuant to and within the limitations prescribed by the Local Bond Law. Section 3. The improvements or purposes hereby authorized for which bonds or notes are to be issued, the estimated cost of each improvement or purpose and the appropriation therefor, the estimated maximum amount of bonds or notes to be issued for each improvement or purpose, and the period of usefulness of each improvement or purpose are as follows: (a) The construction of the Hills of Troy Water Treatment Plant, a 2.5 million gallon per day facility to treat the removal of per- and polyfluoroalkyn substances in public groundwater supply wells 9, 10 and 18 in the Township, as set forth on the project list filed in the Finance Office, including all work and materials necessary therefor or incidental thereto. APPROPRIATION BOND AUTHORIZATION PERIOD OF USEFULNESS $12,800,000 $12,800,000 40 years (b) The planning and design of the Lower Brooklawn Water Treatment Plant, a 2.5 million gallon per day facility to treat the removal of per- and polyfluoroalkyn substances in public groundwater supply wells 14 and 19 in the Township. APPROPRIATION BOND AUTHORIZATION PERIOD OF USEFULNESS $770,000 $770,000 5 years TOTAL APPROPRIATION TOTAL BOND AUTHORIZATION AVERAGE PERIOD OF USEFULNESS $13,570,000 $13,570,000 38.01 years Section 4. All bond anticipation notes issued hereunder shall mature at such times as may be determined by the Chief Financial Officer; provided that no bond anticipation note shall mature later than one year from its date pursuant to the Local Bond Law, or five years from its date pursuant to the New Jersey Infrastructure Trust Act (N.J.S.A. 58:11B-1 et seq.). The bond anticipation notes shall bear interest at such rate or rates and be in such form as may be determined by the Chief Financial Officer. The Chief Financial Officer shall determine all matters in connection with the bond anticipation notes issued pursuant to this bond ordinance, and the Chief Financial Officer's signature upon the bond anticipation notes shall be conclusive evidence as to all such determinations. All bond anticipation notes issued hereunder may be renewed from time to time subject to the provisions of the Local Bond Law and, as applicable, the provisions of the New Jersey Infrastructure Trust Act. The Chief Financial Officer is hereby authorized to sell a part, or all, of the bond anticipation notes from time to time at public or private sale, and to deliver them to the purchasers thereof upon receipt of payment of the purchase price plus accrued interest, if any, from their dates to the dates of delivery thereof. The Chief Financial Officer is directed to report in writing to the governing body at the meeting next succeeding the date when any sale of bond anticipation notes issued pursuant to this bond ordinance is made. Such report must include the amount, the description, the interest rate and the maturity schedule of the bond anticipation notes sold, the price obtained and the name of the purchaser. Section 5. The capital budget of the Township is hereby amended to conform with the provisions of this bond ordinance to the extent of any inconsistency herewith. Section 6. The following additional matters are hereby determined, declared, recited and stated: (a) The improvements or purposes described in Section 3 of this bond ordinance are not current expenses. They are all improvements or purposes that the Township may lawfully undertake as general improvements, and no part of the costs thereof has been or shall be specially assessed on property specially benefited thereby. (b) The average period of usefulness of the improvements or purposes described in Section 3 of this bond ordinance, computed on the basis of the amounts of obligations authorized for each improvement or purpose and the reasonable life thereof within the limitations of the Local Bond Law, is 38.01 years. (c) An aggregate amount not exceeding $2,000,000 for items of expense listed in and permitted under N.J.S.A. 40A:2-20 is included in the estimated cost of the improvements or purposes set forth in Section 3 of this bond ordinance. (d) The Supplemental Debt Statement required by the Local Bond Law has been duly prepared and filed in the office of the Clerk, and submitted to the office of the Director of the Division of Local Government Services in the Department of Community Affairs of the State of New Jersey. Such statement shows that the gross debt of the Township is increased by $13,570,000 (the amount of the authorization of the obligations provided for in this bond ordinance). The obligations authorized herein will be within all debt limitations prescribed by the Local Bond Law. Section 7. The Township reasonably expects to commence the acquisition and/or construction of the improvements or purposes described in Section 3 of this bond ordinance, and to advance all or a portion of the costs in respect thereof, prior to the issuance of bonds or notes hereunder. To the extent such costs are advanced, the Township further reasonably expects to reimburse such expenditures from the proceeds of the obligations authorized in Section 2 of this bond ordinance. This Section 7 is intended to be and hereby is a declaration of official intent under Treasury Regulation Section 1.150-2. Section 8. The full faith and credit of the Township are hereby pledged to the punctual payment of the principal of and the interest on the obligations authorized by this bond ordinance. The obligations shall be direct, unlimited obligations of the Township, and the Township shall be obligated to levy ad valorem taxes upon all the taxable real property within the Township for the payment of the obligations and the interest thereon without limitation of rate or amount. Section 9. This bond ordinance shall take effect 20 days after the first publication thereof after final adoption, as provided by the Local Bond Law. May 26 2026 LNYS0524090 $153.66