Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing (X) Amending Type of Service: Resolution Endorsing Purpose: 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. 40:48H-6 AND N.J.S.A. 40A:12A-29 AND THE TERMS OF PREVIOUS APPROVALS BY SAID BOARD, RELATING TO THE PROPOSED ISSUANCE OF UP TO $16,000,000 IN MOTOR VEHICLE RENTAL TAX REVENUE BONDS OF THE CITY Additional Information: Bond proceeds will be appropriated to fund capital grants in an aggregate amount not to exceed $13,400,000. in support of certain eligible projects.