Resolutions - Jersey City

Resolution of the City of Jersey City, N.J.City Clerk File No. Res. 09-766Agenda No.10.Z.38Approved: SEP 0 9 2009TITLE:RESOLUTION PROVIDING FOR THE ISSUANCE ANDSALE OF QUALIFIED GENERAL IMPROVEMENTBONDS, SERIES 2009 OF THE CITY OF JERSEY CITY, INTHE COUNTY OF HUDSON, NEW JERSEY TO THEHUDSON COUNTY IMPROVEMENT AUTHORITY ANDPROVIDING FOR OTHER DETAILS OF SAID BONDSWHEREAS, the Municipal Council of the City of Jersey City, in the County of Hudson,New Jersey (the "City"), has heretofore adopted a bond ordinance authorizing bonds to financethe acquisition of various fire department equipment and apparatus through a loan from TheHudson County Improvement Authority (the "Authority"); andWHEREAS, the Authority has previously issued its Essential Purose PooledGovernental Loan Program Bonds, Series 1986 (the "ProgIam Bonds") pursuant to and inaccordance with a resolution of the Authority, duly adopted July 15, 1986, entitled, "ResolutionAuthorizing the Issuance of Essential' Purpose Pooled Governental Loan Progrm Bonds ofThe Hudson County Improvement Authority", as amended and supplemented (the "AuthorityResolution"), which Program Bonds were issued to, among other things, establish a pooled loanprogram (the "Authority Loan Program") to provide loans to governental units within theCounty of Hudson, New Jersey (the "County") or otherwise provide for long-term financing ofvarious public facilities; andWHEREAS, the City desires toparticipate in the Authority Loan Program, and pursuantto the Authority Loan Program, to issue and sell its bonds puruant to said bond ordiance to theAuthority and it is deemed advisable and in the best interests of the City to issue an aggregateprincipal amount of $2,000,000 puruant to the Local Bond Law, constituting Chapter 2 of Title40A ofthe Revised Statutes ofNew Jersey and entitled to the benefits ofthe Municipal QualifiedBond Act.NOW, THEREFORE, BE IT RESOLVED BY THE MUICIPAL COUNCIL OF THECITY OF JERSEY CITY, IN THE COUN OF HUSON, NEW JERSEY (not less than twothirdsof all members thereof affrmatively concurg) that:SECTIONL. Pursuant to the LocalBond Law of the State ofChapter 2 of Title 40A of the NewNew Jersey, constituting,.:Jersey Statutes (the "Act"), the City has previously adoptedthe following bond ordinance (the "Ordinnce") on the date indicated which Ordinance