Dept/ Agency: Finance Action: ( ) Ratifying (X) Authorizing ( ) Amending Purpose: Application to Local Finance Board for approval of bond ordinance Name of Project(s): Mulberry Commons Pedestrian Bridge Amount to be Financed: $110,000,000.00 Funding Source: Revenue Bonds Local Finance Board meeting date(s): October 20, 2021 Project Information: (Description/ Project No./ Amount Appropriated/Ordinance No.) RESOLUTION OF THE CITY OF NEWARK, IN THE COUNTY OF ESSEX, NEW JERSEY, APPROVING THE SUBMISSION OF AN APPLICATION TO THE LOCAL FINANCE BOARD PURSUANT TO N.J.S.A. 40A:12A-29(a)(3) PERTAINING TO THE ISSUANCE OF UP TO $110,000,000.00 PRINCIPAL AMOUNT OF MASS TRANSIT ACCESS TAX REVENUE BONDS AND PROJECT NOTES (MULBERRY PEDESTRIAN BRIDGE REDEVELOPMENT PROJECT) (CITY SECURED) AT ANY ONE TIME OUTSTANDING OF THE CITY, ACTING AS REDEVELOPMENT ENTITY AND THE ADOPTION OF A SUBSIDY ORDINANCE BY THE CITY RELATING THERETO. Additional Information: The 3.5% Mass Transit Tax will be pledged to pay the debt service for these bonds.