Dept/ Agency: Finance Action: ( ) Ratifying (X) Authorizing ( ) Amending Purpose: Confirming Bond Sale Amount to be Financed: $89,203,472.00 Source of Appropriation: Bonds Purchaser: New Jersey Infrastructure Bank Project Information: (Description/ Project No./Amount Appropriated/Ordinance No.) RESOLUTION DETERMINING THE FORM AND OTHER DETAILS OF NOT EXCEEDING $89,203,472.00 QUALIFIED GENERAL OBLIGATION BONDS OF THE CITY OF NEWARK, IN THE COUNTY OF ESSEX, NEW JERSEY, AND PROVIDING FOR THEIR SALE TO THE NEW JERSEY INFRASTRUCTURE BANK AND THE STATE OF NEW JERSEY, ACTING BY AND THROUGH THE DEPARTMENT OF ENVIRONMENTAL PROTECTION, PURSUANT TO THE STATE FISCAL YEAR 2023 NEW JERSEY WATER BANK FINANCING PROGRAM FOR FUNDING PHASES 5 THROUGH 10 OF THE CITY’S LEAD SERVICE LINE REPLACEMENT PROGRAM. Additional Information: To permanently finance Phase 5 through 10 of the Lead Service Line Replacement Program. The City will receive $27,783,075.00 in principal forgiveness.