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Board introduces ordinance to guarantee up to $15.5 million in revenue bonds for Greater Bergen Community Action project
Summary
The Bergen County Board of Commissioners introduced Ordinance 25-03 to guarantee county-backed revenue bonds for a Greater Bergen Community Action Grama, Inc. project, authorizing a guarantee not to exceed $15,500,000; the ordinance passed first reading and was introduced by roll call (5 yes, 1 no).
The Bergen County Board of Commissioners introduced Ordinance 25-03 on first reading, a guarantee ordinance to secure revenue bonds or notes issued by the Bergen County Improvement Authority for the Greater Bergen Community Action Grama, Inc. project in an aggregate principal amount not to exceed $15,500,000. The clerk read the ordinance title aloud at the meeting: "Ordinance 25-03 is a guarantee ordinance securing the Bergen County Improvement Authority's county guaranteed revenue bonds or notes series 2025 Greater Bergen Community Action Grama, Inc. Project in an aggregate principal amount not to exceed $15,500,000." A motion was made and seconded to introduce the ordinance as read, and the Board proceeded to a roll-call vote. The roll call recorded five yes votes and one no vote, after which the chair stated the ordinance had been introduced. The transcript does not record the names of the members who moved or seconded the motion but does record the roll-call outcome as five yeses, with one recorded "no." The action was recorded as introduction and first reading; further public hearings, final adoption votes or dates for subsequent readings were not shown in the meeting transcript.
