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11/12/2010 - Special Borough Council Meeting for Redevelopment Bond Ordinance- November 22, 2010

 

NOTICE OF SPECIAL COUNCIL MEETING

BOROUGH OF SOMERVILLE

COUNTY OF SOMERSET TO BE HELD ON NOVEMBER 22, 2010 AT 6:00 P.M. TO ACT ON PENDING BOND ORDINANCE #2339

 

 

 

 

NOTICE IS HEREBY GIVEN that a special council meeting will be held, by the Borough Council of Somerville, County of Somerset, State of New Jersey.  The Special Meeting will be held on November 22, 2010.  The Meeting will start at 6:00 p.m. prevailing time and the meeting is open to the public at Police Headquarters, 24 South Bridge Street, Somerville, New Jersey, at which official action will be taken.

 

Meeting Agenda

  1. Call of Roll
  2. Salute to the Flag
  3. Meeting open to the public
  4. Ordinance #2339- Public Hearing
  5. Ordinance #2339- Discussion
  6. Ordinance #2339 - Consideration
  7. Adjournment

NOTICE OF PENDING BOND ORDINANCE

ORDINANCE #2339

 

Full copy of Bond Ordinance 2339  

 

The bond ordinance, the summary terms of which are included herein, was introduced and passed upon first reading at a meeting of the governing body of the Borough Council of the Borough of Somerville, State of New Jersey, on October 4, 2010.  It will be further considered for final passage, after public hearing thereon, at a meeting of the governing body to be held at the Borough Council to be held at Police Headquarters, 24 South Bridge Street, Somerville, New Jersey, at a Special Meeting on November 22, 2010 at 6:00 o’clock PM.  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 Providing A Capital Grant To Saker Shoprites, Inc. To Finance A Portion Of The Cost To Construct A Supermarket Located In The West Main Street Redevelopment Area For And By The Borough Of Somerville, In The County Of Somerset, New Jersey And Authorizing The Issuance Of $6,000,000 Bonds Or Notes Of The Borough For Financing Part Of The Appropriation.

Purpose(s):  To provide a capital grant to Saker Shoprites, Inc. to finance a portion of the cost to construct a supermarket located in the West Main Street Redevelopment Area which will be located at Block 117, Lot 1 in the Borough

Appropriation:  $6,000,000

Bonds/Notes Authorized:  $6,000,000

Grants (if any) Appropriated:  None

Section 20 Costs:  $1,000,000

Useful Life:  30 years 

 

 

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