BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF HUDSON
PUBLIC NOTICE
GUARANTY ORDINANCE STATEMENT AND SUMMARY
The guaranty ordinance, the summary terms of which are included herein, has been finally adopted by the Board of County Commissioners of the County of Hudson, State of New Jersey on July 16, 2026 and the twenty (20) day period of limitation within which a suit, action or proceeding questioning the validity of such ordinance can be commenced, as provided in the Local Bond Law, N.J.S.A. 40A:2-1 et seq., has begun to run from the date of the first publication of this statement. Copies of the full guaranty ordinance are available at no cost and during regular business hours at the Office of the Clerk of the Board of County Commissioners for members of the general public who 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