Bond Ordinance Statements and Summary
The bond ordinance, the summary terms of which areincluded herein, has been finally adopted by the City Council of the City ofHoboken, in the County of Hudson, State of New Jersey on September 16, 2026 andthe twenty (20) day period of limitation within which a suit, action orproceeding questioning the validity of such ordinance can be commenced, asprovided in the Local Bond Law, has begun to run from the date of the firstpublication of this statement. Copies ofthe full ordinance are available at no cost and during regular business hours,at the City Clerk's office in the Municipal Building, 94 Washington Street, Hoboken, New Jersey, for members of thegeneral public who request the same. Thesummary of the terms of such bond ordinance follows:
Title: BOND ORDINANCE AUTHORIZING THECOMPLETION OF VARIOUS CAPITAL IMPROVEMENTS AND THE ACQUISITION OF VARIOUSCAPITAL EQUIPMENT (INCLUDING CAPITAL FACILITY IMPROVEMENTS ALLOCATION RELATEDTHERETO) IN AND FOR THE CITY OF HOBOKEN, COUNTY OF HUDSON, NEW JERSEY;APPROPRIATING THE SUM OF $11,195,700 THEREFOR; AUTHORIZING THE ISSUANCE OFGENERAL 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 RELATEDACTIONS 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
