BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF HUDSON
PUBLIC NOTICE
NOTICE OF PENDING GUARANTY ORDINANCE AND SUMMARY
The guaranty ordinance, the summary terms of which are included herein, was introduced and passed upon first reading at a meeting of the Board of County Commissioners of the County of Hudson, State of New Jersey, on June 25, 2026. It will be further considered for final passage, after public hearing thereon, at a meeting of the Board of County Commissioners to be held at the County Administration Annex, 567 Pavonia Avenue, Jersey City, First Floor, New Jersey 07306 on July 16, 2026 at 1:00 p.m. Information regarding remote access to the meeting may be found on the County’s website at https://www.hcnj.us/countycommissioners/2026-meeting-dates-and-agendas/. During the week prior to and up to and including the date of such meeting, copies of the full guaranty ordinance will be available at no cost and during regular business hours at the Office of the Clerk of the Board of County Commissioners for the members of the general public who shall request the same. The summary of the terms of such guaranty ordinance follows:
Title:AN ORDINANCE OF THE COUNTY OF HUDSON, STATE OF NEW JERSEY AUTHORIZING THE GUARANTY OF THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON NOT EXCEEDING $140,000,000 AGGREGATE PRINCIPAL AMOUNT OF COUNTY-GUARANTEED MULTIFAMILY HOUSING REVENUE BONDS ISSUED BY THE HUDSON COUNTY IMPROVEMENT AUTHORITY FOR THE PURPOSE OF PROVIDING ADDITIONAL SECURITY THEREFOR, CONSENTING TO SUCH FINANCING AND DETERMINING CERTAIN OTHER MATTERS IN CONNECTION THEREWITH
Purpose(s): To guaranty the payment of the principal of and interest on not to exceed $140,000,000 aggregate principal amount of County-Guaranteed Multifamily Housing Revenue Bonds, Series 2026 (or such other year designation as shall be appropriate at the time of issuance thereof) to be issued by the Hudson County Improvement Authority in one or more series, on a tax-exempt or taxable basis, as necessary, including any notes issued in anticipation thereof, and to consent to the undertaking of such project
Appropriation: None (in the event there are insufficient moneys to pay principal of and interest on the Bonds, the County of Hudson will appropriate moneys, pursuant to the guaranty, sufficient to pay such deficiency)
Grants Appropriated: None
Bonds/Notes Authorized:None (in the event there are insufficient moneys to pay principal of and interest on the Bonds, the County of Hudson will appropriate moneys and may issue bonds or notes, pursuant to the guaranty, sufficient to pay such deficiency)
Section 20 Costs: None
Useful Life: None (the guaranty will remain in effect so long as any Bonds remain unpaid and outstanding)
CAROL JEAN DOYLE,
Clerk of the Board of County Commissioners