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down payments are now available by virtue of a provision or provisions in a previously adopted budget or budgets of the Township for down payment or for capital improvement purposes.
SECTION 4. For the financing of said improvements or purposes described in Section 3 hereof and to meet the part of said $1,145,140.35 appropriation not provided for by application hereunder of said Excess Proceeds and down payments, negotiable bonds of the Township are hereby authorized to be issued in the aggregate principal amount of $691,200.00 pursuant to the Local Bond Law. In anticipation of the issuance of said bonds and to temporarily finance said improvements or purposes, negotiable notes of the Township in an aggregate principal amount not exceeding $691,200.00 are hereby authorized to be issued pursuant to and within the limitations prescribed by said Local Bond Law.
SECTION 5. (a) The improvements hereby authorized and purposes for the financing of which said obligations are to be issued are as follows:
| Description | Appropriation | Authorization | Down Payment | Useful Life |
|---|
| (i) Improvements to the Township Justice Complex, including but not limited to, as applicable, construction of a building for use as a concession stand and public restrooms, installation of a well and potable water system and a storm drainage system, installation of a sanitary sewer force main and sanitary sewer grinder pump, installation of various park amenities, including but not limited to, benches, bleachers, bicycle racks, water fountains, lighting, waste baskets, signage, landscaping and aesthetic improvements; | 400,000.35n(including a146,484.65 reappropriation) | $241,437 | $12,078.70 | 15 years |
| (ii) Construction of a paved access road to the Courthouse Complex, including but not limited to, as applicable, site clearing, excavation, milling and surfacing said roadway using Class A pavement (as defined under the Local Bond Law), drainage and landscaping work, the acquisition and installation of traffic signs and street lighting, and the construction, as applicable, of curbs and sidewalks along such roadway; | 99,300.00n(including a36,364.78 reappropriation) | $59,937 | $2,998.22 | 20 years |
| (iii) Improvements to the parking lot at the Township Municipal Building, including but not limited to, as applicable, excavation, milling, resurfacing and restriping with paint/glass beads of the | 187,440.00n(including a68,642.65 reappropriation) | $113,138 | $5,659.35 | 10 years |