CAPE MAY COUNTY
ORDINANCE NO. 019-2011
BOND ORDINANCE STATEMENT AND SUMMARY
The bond ordinance, the summary terms of which are included herein, has been
finally adopted by the Township of Upper, in the County of Cape May, State of
New Jersey on August 9, 2011 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 for the Funding of the Strathmere and Whale Beach
Replenishment Projects Including the Acquisition of Land or Easements Where
Necessary and All Related Costs in and by the Township of Upper, in the County
of Cape May, New Jersey, Appropriating $4,400,000 Therefor and Authorizing the
Issuance of $4,180,000 Bonds or Notes of the Township to Finance Part of the
Cost Thereof.”
Purpose: The funding of the
Strathmere and Whale Beach replenishment projects, including where necessary the
acquisition by gift, eminent domain or otherwise of land, easements or other
interest therein where necessary and all related costs.
Appropriation: $4,400,000
Bonds/Notes Authorized: $4,180,000
Grant Appropriated: N/A
Section 20 Costs: $880,000
Useful Life: 5 years
Wanda Gaglione, Clerk