Dept/ Agency: Finance Action: ( ) Ratifying (X) Authorizing ( ) Amending Purpose: Approving loan and escrow agreements for South Street and Adams Street Drainage Project. Amount to be Financed: $6,000,000.00 Source of Appropriation: Bonds Project Information: (Description/ Project No./ Amount Appropriated/Ordinance No.) RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF LOAN AGREEMENTS TO BE EXECUTED BY THE CITY OF NEWARK, IN THE COUNTY OF ESSEX, NEW JERSEY AND EACH OF THE NEW JERSEY INFRASTRUCTURE BANK AND THE STATE OF NEW JERSEY, ACTING BY AND THROUGH THE DEPARTMENT OF ENVIRONMENTAL PROTECTION, AND FURTHER AUTHORIZING THE EXECUTION AND DELIVERY OF AN ESCROW AGREEMENT, ALL PURSUANT TO THE STATE FISCAL YEAR 2022 WATER BANK FINANCING PROGRAM FOR FUNDING THE CITY OF NEWARK’S SOUTH STREET AND ADAMS STREET DRAINAGE IMPROVEMENTS PROJECT. Additional Information: In relation to, Legistar File ID #22-0258 authorizing the form of the loan documents.