Ordinance #12-2026 Introduction

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 held on June 25, 2026, at the Margate City Hall. It will be further considered for final passage, after public hearing thereon, at a meeting of the governing body to be held on July 16, 2026, at 5:00 o’clock P.M. at the Margate City Hall. 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 located in the Margate City Municipal Building, 9001 Winchester Avenue, Margate, New Jersey 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 APPROPRIATING FIVE MILLION FIVE HUNDRED EIGHTY THOUSAND DOLLARS ($5,580,000) AND AUTHORIZING THE ISSUANCE OF FIVE MILLION FIVE HUNDRED EIGHTY THOUSAND DOLLARS ($5,580,000) IN BONDS AND NOTES OF THE CITY OF MARGATE CITY FOR VARIOUS CAPITAL IMPROVEMENTS OR PURPOSES AUTHORIZED TO BE UNDERTAKEN BY THE CITY OF MARGATE CITY, IN THE COUNTY OF ATLANTIC, NEW JERSEY”

Purposes: Amherst Avenue Storm Sewer Pump Station (including Massey Avenue and bulkhead replacement) and Roadway Improvements under State Fiscal Year 2026-Reconstruction of Winchester Avenue.

Appropriation: $5,580,000

Bonds/Notes Authorized: $5,580,000

Grants (if any) Appropriated: $2,461,171

Section 20 Costs: $325,000

Useful Life: 35.32 years

Johanna Casey, RMC, Municipal Clerk

This Notice is published pursuant to N.J.S.A. 40A:2-17.

Posted on Website:  June 26, 2026