FINAL ADOPTION ORDINANCE 2026-03

BOND ORDINANCE STATEMENTS AND SUMMARY

 The Bond Ordinance, the summary terms of which are included herein, has been finally adopted by the Township Committee of the Township of Downe, in the County of Cumberland, State of New Jersey on March 9, 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 Clerk’s office located in the Downe Township Municipal Complex, 288 Main Street, Newport, New Jersey, for members of the general public who request the same.  The summary of the terms of such Bond Ordinance follows:

Title: “BOND ORDINANCE AUTHORIZING THE CONSTRUCTION OF REPAIRS AND RESTORATION OF GANDY’S BEACH SOUTH COVE ROAD BULKHEAD DAMAGE, AND APPROPRIATING ONE MILLION ONE HUNDRED THOUSAND DOLLARS ($1,100,000) TO PAY THE COST THEREOF, TO AUTHORIZE THE ISSUANCE OF ONE MILLION ONE HUNDRED THOUSAND DOLLARS ($1,100,000) OF BONDS TO FINANCE THE APPROPRIATION, AND TO PROVIDE FOR THE ISSUANCE OF BOND ANTICIPATION NOTES IN ANTICIPATION OF THE ISSUANCE OF BONDS”

Purpose: Repair and Restoration of the Gandy’s Beach South Cove Road Bulkhead Damage, Township of Downe, Cumberland County, NJ.

Appropriation: $1,100,000

Bonds/Notes Authorized: $1,100,000

Grants (if any) Appropriated: $2,877,807.76 FEMA Grant

Section 20 Costs: $100,000

Useful Life: 15 years

 

Nadine E. Lockley, RMC, Municipal Clerk

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