NOTICE OF PENDING BOND ORDINANCE AND SUMMARY

The bond ordinance, the summary terms of which are included herein, was introduced and passed upon first reading at a meeting of the Borough Council of the Borough of Elmwood Park, in the County of Bergen, State of New Jersey, on February 19, 2026. It will be further considered for final passage, after public hearing thereon, at a meeting of the Borough Council to be held in the Municipal Building, 182 Market Street, Elmwood Park, New Jersey, on March 19, 2026 at 7:00 P.M. During the week prior to and up to and including the date of such meeting copies of the full ordinance will be available, at no cost and during regular business hours, at the Clerk's office for the members of the general public who shall request the same. The summary of the terms of such bond ordinance follows:

Title: BOND ORDINANCE TO AUTHORIZE THE IMPROVEMENT OF GARDEN DRIVE IN, BY AND FOR THE BOROUGH OF ELMWOOD PARK, IN THE COUNTY OF BERGEN, NEW JERSEY, TO APPROPRIATE THE SUM OF $340,000 TO PAY THE COST THEREOF, TO MAKE A DOWN PAYMENT, TO APPROPRIATE A FEDERAL GRANT, 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): Improvement of Garden Drive, including road resurfacing, construction of ADA compliant sidewalk ramps and drainage, curb and sidewalk improvements, where necessary, in, by and for the Borough.

Appropriation: $340,000

Bonds/Notes Authorized: $191,600

Grants (if any) Appropriated: $138,790

Section 20 Costs: $60,000

Useful Life: 10 years

This Notice is published pursuant to N.J.S.A. 40A:2-17.

Borough of Elmwood Park

Shanee Morris, RMC, CMR