O-2025-08-S
BOROUGH OF FANWOOD
UNION COUNTY, NEW JERSEY
PUBLIC FINANCE
BOND ORDINANCE STATEMENTS AND SUMMARIES
O-2025-08-S
The bond ordinance, the summary terms of which are included herein, has been finally adopted by the Borough of Fanwood, in the County of Union, State of New Jersey on June 16, 2025 and the 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 for members of the general public who request the same. The summary of the terms of such bond ordinance follows:
Title: Bond Ordinance Providing An Appropriation Of $1,222,656 For Various Capital Acquisitions For And By The Borough Of Fanwood In The County Of Union, New Jersey And, Authorizing The Issuance Of $463,720 Bonds Or Notes Of The Borough For Financing Part Of The Appropriation.
Purpose(s): Road improvements to Waldron Road, Kyte Place, Graybar Terrace and Watson Road; Various improvements to Borough Property, including but not limited to Basketball Court Resurfacing; and Acquisition of various Borough equipment, including but not limited to hand guns, alcotest system, scanner for mechanic, Stage Carriage House upgrades, IT upgrades, courtroom audio upgrades and electronic sign board.
Appropriation: $1,222,656
Bonds/Notes Authorized: $463,720
Grants (if any) Appropriated: (a) $4,000 expected to be received as a History Education Arts Reaching Thousands Grant (HEART Grant) from the County of Union in connection with the Stage Carriage House; (b) $343,629 expected to be received as a grant from the New Jersey Department of Transportation in connection with the road improvements for Waldron Road and Kyte Place; (c) $40,000 expected to be received as an Infrastructure & Municipal Aid Grant from the County of Union in connection with the road improvements for Waldron Road and Kyte Place; and (d) $346,900 expected to be received as a grant from the New Jersey Department of Transportation in connection with the road improvements for Graybar Terrace and Watson Road.
Section 20 Costs: $150,000
Useful Life: 16.14 Years
AN ORDINANCE OF THE BOROUGH OF FANWOOD, COUNTY OF UNION, AND STATE OF NEW JERSEY AMENDING CHAPTER 67 OF THE BOROUGH CODE FOR POLICE DEPARTMENT FEES ENUMERATED
NOTICE IS HEREBY GIVEN that this ordinance has been finally adopted upon second reading at a meeting of the governing body of the Borough of Fanwood, in the County of Union, State of New Jersey, on June 16, 2025. 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 by 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 in the Municipal Building in said Borough for members of the general public who request the same.
By order of the Borough of Fanwood, Union County, New Jersey
