BOND ORDINANCE STATEMENTS AND SUMMARY

The Bond Ordinance, the summary terms of which are included herein, has been finally adopted by the City of Ventnor, in the County of Atlantic, State of New Jersey on May 14, 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 for members of the general public who request the same. The summary of the terms of such Bond Ordinance follows:

Title: “BOND ORDINANCE PROVIDING FOR PHASE 1 OF THE WINCHESTER AVENUE WATER MAIN REPLACEMENT PROJECT BY THE CITY OF VENTNOR, IN THE COUNTY OF ATLANTIC, NEW JERSEY, APPROPRIATING ONE MILLION FIVE HUNDRED THOUSAND DOLLARS ($1,500,000) THEREFOR AND AUTHORIZING THE ISSUANCE OF UP TO ONE MILLION FIVE HUNDRED THOUSAND DOLLARS ($1,500,000) AGGREGATE PRINCIPAL AMOUNT BONDS OR NOTES OF THE CITY OF VENTNOR, COUNTY OF ATLANTIC, NEW JERSEY TO FINANCE THE COST THEREOF”

Purpose: Phase 1 of the Winchester Avenue Water Main Replacement Project

Appropriation: $1,500,000

Bonds/Notes Authorized: $1,500,000

Grants (if any) Appropriated: $0

Section 20 Costs: $300,000

Useful Life: 40.00 years

                                                            __________________________________________

Lisa H. Hand, RMC, Municipal