BOND ORDINANCE STATEMENT AND SUMMARY

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 Wallington, in the County of Bergen, State of New Jersey, on October 2, 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: Ordinance # 2025-019 Title: BOND ORDINANCE TO AUTHORIZE THE RESURFACING OF ROSS ROAD AND CURIE AVENUE IN, BY AND FOR THE BOROUGH OF WALLINGTON, IN THE COUNTY OF BERGEN, STATE OF NEW JERSEY, TO APPROPRIATE THE SUM OF $440,000 TO PAY THE COST THEREOF, TO APPROPRIATE A STATE GRANT AND CAPITAL FUND BALANCE, 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): Resurfacing of Ross Road and Curie Avenue, including curb, sidewalk and drainage improvements, where necessary, in, by and for the Borough. Appropriation: $440,000 Bonds/Notes Authorized: $190,000 Grants (if any) Appropriated: $249,252 Capital Fund Balance Appropriated: $748 Section 20 Costs: $60,000 Useful Life: 10 years Casey Kimmel, RMC Borough Clerk Borough of Wallington County of Bergen State of New Jersey October 8 2025 LNYS0383015 $42.24