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Avalon OKs Bond Ordinances for Capital Improvements

Avalon OKs Bond Ordinances for Capital Improvements

By Vince Conti

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AVALON — The Borough Council has adopted a $1.9 million bond ordinance for 2024 capital improvements, of which $1.5 million was authorized for the issuance of bonds or notes.

The ordinance, adopted unanimously June 26, is consistent with Avalon’s policy of exceeding the state-required 5% down payment, with the ordinance showing that the down payment for this year’s capital improvements will be 20%, or $$379,000.

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