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 City Council of the City of Hoboken, in the County of Hudson, State of New Jersey, of September 2, 2026. It will be further considered for final passage, after public hearing thereon, at a meeting of the City Council to be held at City Hall, 94 Washington Street,Hoboken, New Jersey on September 16,2026 at 7 o'clock 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 City 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 AUTHORIZING THE COMPLETION OF VARIOUS CAPITAL IMPROVEMENTS AND THE ACQUISITION OF VARIOUS CAPITAL EQUIPMENT (INCLUDING CAPITAL FACILITY IMPROVEMENTS ALLOCATION RELATED THERE TO) IN AND FOR THE CITY OF HOBOKEN, COUNTY OF HUDSON, NEW JERSEY;APPROPRIATING THE SUM OF $11,195,700 THEREFOR; AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OR BOND ANTICIPATION NOTES OF THE CITY OF HOBOKEN,COUNTY OF HUDSON, NEW JERSEY IN THE AGGREGATE PRINCIPAL AMOUNT OF UP TO $10,896,100;MAKING CERTAIN DETERMINATIONS AND COVENANTS; AND AUTHORIZING CERTAIN RELATED ACTIONS IN CONNECTION WITH THE FOREGOING
Purpose/Improvement
Estimated
Total Cost
Down Payment
Amount of Obligations
Period of
Usefulness
A.
Improvements to various streets and roads in the City (New Jersey Transportation Bank Program) including, but not limited to, Adams Street, 13th Street, 3rd Street and Castle Point Terrace, together with the acquisition of all materials and capital equipment and the completion of all work necessary therefore or related thereto.
$5,205,000
$0
$5,205,000
10 years
B.
Improvements to various streets and roads in the City, together with the acquisition of all materials and capital equipment and the completion of all work necessary therefore or related thereto.
1,300,000
65,000
1,235,000
10 years
C.
Acquisition of Fire Apparatus for the Department of Public Safety, together with the acquisition of all materials and capital equipment and the completion of all work necessary therefore or related thereto.
1,260,000
63,000
1,197,000
20 years
D.
Acquisition of various Sport Utility Vehicles and Equipment for the Department of Public Safety, together with the acquisition of all materials and capital equipment and the completion of all work necessary therefore or related thereto.
900,000
45,000
855,000
5 years
E.
Acquisition of Heavy Vehicles and Equipment for the Department of Infrastructure including, but not limited to, Garbage Trucks and Bobcats, together with the acquisition of all materials and capital equipment and the completion of all work necessary therefore or related thereto.
800,000
40,000
760,000
10 years
F.
Improvements to various City Buildings and Grounds including, but not limited to, upgrades and rehabilitation of the Multi-Service Center HVAC system, together with the acquisition of all materials and capital equipment and the completion of all work necessary therefore or related thereto.
1,625,000
81,250
1,543,750
15 years
G.
Acquisition and installation of various Information Technology Equipment in and for the City, together with the acquisition of all materials and capital equipment and the completion of all work necessary therefore or related thereto.
50,000
2,500
47,500
7 years
H.
Completion of various capital facility improvements in and for the City including, but not limited to, improvements for public housing facilities projects, together with the acquisition of all materials and capital equipment and the completion of all work necessary therefore or related thereto.
55,700
2,850
52,850
15 years
Appropriation: $11,195,700
Bonds/Notes Authorized: $10,896,100
Grants (if any) Appropriated: $0
Section 20 Costs: $2,200,000
Useful Life: 11.43years
JAMES J. FARINA, RMC, City Clerk
This Notice is published pursuant to N.J.S.A.40A:2-17.
