Ordinance #2024-16 NOTICE OF PENDING BOND ORDINANCE AND SUMMARY 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 Princeton, in the County of Mercer, State of New Jersey, on March 25, 2024. It will be further considered for final passage, after public hearing thereon, at a meeting of the governing body to be held at the Witherspoon Hall Municipal Building, 400 Witherspoon Street, Main Meeting Room, in Princeton on April 8, 2024 at 7:00 o’clock p.m. During the week prior to and up to and including the date of such meeting, copies of the full bond 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 FOR VARIOUS CAPITAL IMPROVEMENTS FOR OPEN SPACE PURPOSES IN AND BY PRINCETON, IN THE COUNTY OF MERCER, NEW JERSEY, APPROPRIATING $540,000 THEREFOR AND AUTHORIZING THE ISSUANCE OF $513,000 BONDS OR NOTES OF PRINCETON TO FINANCE PART OF THE COST THEREOF Purposes: Purpose Appropriation & Estimated Cost Estimated Maximum Amount of Bonds & Notes Period of Usefulness a). Parkland Diversion and/or other acquisitions of open space, including all related costs and expenditures incidental thereto. $103,000 $97,850 40 years b) Various improvements to parks and open spaces within Princeton, including, but not limited to, Mountain Lakes/Community Park North Restoration Project, replacement and improvements to Mountain Lakes footbridges, tree removal and landscaping, planting and maintenance, and further including all work and materials necessary therefor and incidental thereto. $437,000 $415,150 15 years Total: $540,000 $513,000 Appropriation: $540,000 Bonds/Notes Authorized: $513,000 Grant Appropriated: N/A Section 20 Costs: $18,000 Useful Life: 19.76 years Rayna E. Harris Municipal Clerk 1x, PP, 3/29/24, Fee:$60.85 Affidavit Fee:$15.00