BOROUGH OF UNION BEACH

BOROUGH OF UNION BEACH BOROUGH COUNCIL OF THE BOROUGH OF UNION BEACH PUBLIC NOTICE BOND ORDINANCE STATEMENTS AND SUMMARY The bond ordinance, the summary terms of which are included herein, has been finally adopted by Borough Council of the Borough of Union Beach, in the County of Monmouth, State of New Jersey on March 19, 2026 and the twenty (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 Acting Clerk's office for members of the general public who request the same. The summary of the terms of such bond ordinance follows: ORDINANCE 2026-367 BOND ORDINANCE AMENDING AND RESTATING BOND ORDINANCE 2025-357 PROVIDING FOR VARIOUS 2025 CAPITAL IMPROVEMENTS, BY AND IN THE BOROUGH OF UNION BEACH, IN THE COUNTY OF MONMOUTH, STATE OF NEW JERSEY (THE "BOROUGH"); APPROPRIATING $2,542,000 THEREFOR (INCLUDING TWO GRANTS, ONE FROM THE NEW JERSEY DEPARTMENT OF TRANSPORTATION AND ONE FROM THE MONMOUTH COUNTY MUNICIPAL OPEN SPACE GRANT PROGRAM) AND AUTHORIZING THE ISSUANCE OF $1,923,316 BONDS OR NOTES OF THE BOROUGH TO FINANCE PART OF THE COSTS THEREOF -Purpose(s): Amending And Restating Bond Ordinance 2025-357 Providing For The Various 2025 Capital Improvements In And Throughout The Borough Including, But Not Limited To, Various Roadway Improvements; Acquisition Of Property; Scholer Park Sport Lighting Improvements; Safety Improvements Including Acquisition And Installation, As Applicable, Of Cameras At Various Locations Throughout The Borough; Drainage Improvements At Union Hose Fire House; And Various General Capital Improvements At The Memorial Library -Appropriation: $2,542,000 -Bonds/Notes Authorized: $1,923,316 -Grant(s) Appropriated: $217,456 From The New Jersey Department Of Transportation (Allocable To Park Avenue (Phase III) Improvements); $300,000 From The Monmouth County Municipal Open Space Grant Program -Down Payment: $101,228 -Section 20 Costs: $508,400 -Useful Life: 24.72 years March 4 2026 LNYS0470047 $48.40