Dept/ Agency: Finance Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Authorizing the Refunding of $2,540,000.00 of Redevelopment Refunding Bonds Purpose: Intent to reimburse the City for project costs from proceeds of debt obligations issue by the City to New Jersey Performing Arts Center (NJPAC) Amount to be Reimbursed: $2,540,000.00 Source of Appropriation: Project Information: (Description/ Project No./ Amount Appropriated/Ordinance No.) RESOLUTION OF THE CITY OF NEWARK, IN THE COUNTY OF ESSEX, STATE OF NEW JERSEY AUTHORIZING THE REFUNDING OF $2,540,000.00 AGGREGATE PRINCIPAL AMOUNT OF 2005 REDEVELOPMENT REFUNDING BONDS BY THE NEW JERSEY PERFORMING ARTS CENTER AND AUTHORIZING THE APPOINTMENT OF AN ESCROW AGENT AND VERIFICATION AGENT AND THE EXECUTION AND DELIVERY OF AN ESCROW DEPOSIT AGREEMENT. Additional Information: