Which of the following is considered a Chapter 20 expense in a bond ordinance?

A Chapter 20 expense refers to costs that are included in the financing of a municipal bond issue as authorized by the New Jersey Local Bond Law. Each type of expense that can be financed through a bond ordinance has specific categories, and architectural fees fall under the types of expenses that can be considered as part of a bond project.

Architectural fees are essential for the planning and design of a construction project, making them a legitimate expense that can be included in a bond ordinance. The rationale here is that these fees are directly related to the creation and execution of a public project that the bonds are being issued to fund.

In contrast, while construction costs, legal fees, and land acquisition costs can also be significant expenses related to public projects, they do not all directly fall under the Chapter 20 expense designation in a bond ordinance. Understanding the specific categories of expenses authorized under the Local Bond Law is crucial for municipal clerks in preparing and managing public financing. Architectural fees are specifically tied to the necessary planning and design services that precede construction, thereby justifying their inclusion as Chapter 20 expenses.