Supplemental Debt Statement

This document is a Supplemental Debt Statement for Riverdale Borough, prepared as of March 22, 2022, detailing the local unit's debt condition as required by the Local Bond Law of New Jersey. It presents the existing net debt and outlines additional obligations proposed for authorization, providing a comprehensive overview of the borough's financial position relative to its borrowing capacity. The statement indicates a current net debt of $5,080,227.84, which, with the inclusion of newly proposed authorizations, brings the total net debt to $6,761,127.84. The new obligations totaling $1,680,900.00 are earmarked for specific capital improvements: $380,900.00 for an Independence Park Retaining Wall and $1,300,000.00 for Road Improvements. The document also provides the equalized valuation basis for the last three preceding years, calculating the net debt as 0.722% of this valuation, well within the municipal debt limit. It further includes computations for municipal public utility indebtedness and school indebtedness, demonstrating compliance with state financial regulations for bond authorization.