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CAPITAL ORDINANCE OF THE COUNTY OF PASSAIC, NEW JERSEY AUTHORIZING THE RESURFACING OF VARIOUS COUNTY ROADS IN THE AMOUNT OF $3,500,000 AND APPROPRIATING $2,884,426.13 FROM THE GENERAL CAPITAL FUND RESERVE FOR CAPITAL ACQUISITIONS AND $615,573.87 FROM CAPITAL IMPROVEMENT FUND OF THE COUNTY.
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BE IT ORDAINED by the Board of County Commissioners of the County of Passaic, New Jersey, as follows:
Section 1. The County of Passaic, New Jersey (the "County") is hereby authorized to provide for the resurfacing of various county roads and any incidental costs related to road resurfacing deemed necessary, by and for the County.
Section 2. The sum of $3,500,000 is hereby appropriated to the payment of the project authorized and described in Section 1 hereof (hereinafter referred to as "purpose"). Said appropriation shall be raised from the County's General Capital Fund Reserve for Capital Acquisitions and Capital Improvement Fund, as hereinafter provided. The sum of $2,884,426.13 is hereby appropriated from the County's General Capital Fund Reserve for Capital Acquisitions and $615,573.87 from the Capital Improvement Fund to the payment of the cost of said purpose.
Section 3. Said road resurfacing is a lawful capital improvement having a period of usefulness of at least five (5) years.
Section 4. The capital budget is hereby amended to conform with the provisions of this capital ordinance to the extent of any inconsistency therewith and the resolutions promul-gated by the Local Finance Board showing full detail of the amended capital budget and capital program as approved by the Director, Division of Local Government Services, is on file with the Clerk of the Board of County Commissioners and is available for public inspection.
Section 5. This ordinance shall take effect at the time and in the manner provided by law.
MAY 27, 2025