BOROUGH OF FANWOOD, UNION COUNTY, NEW JERSEY
PUBLIC NOTICE

PUBLIC FINANCE

NOTICE OF PENDING BOND ORDINANCE 2025-08-S

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 of Fanwood, in the County of Union, State of New Jersey, on June 2, 2025.  It will be further considered for final passage, after public hearing thereon, at a meeting of the governing body to be held at the Municipal Building, at 75 N. Martine Avenue, in the Borough of Fanwood, on June 16, 2025 at 7:00 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 An Appropriation Of $1,222,656 For Various Capital Improvements 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