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Home My Public Portal About98:28'.ouncilman Presents the following Ordinance Seconded by Councilman BOND ORDINANCE PROVIDING A SUPPLEMENTAL APPROPRIATION OF $2,000,000 FOR CONSTRUCTION OF A NEW LIBRARY AND SENIOR CITIZENS CENTER IN AND BY THE BOROUGH OF CARTERET, IN THE COUNTY OF MIDDLESEX, NEW JERSEY AND AUTHORIZING THE ISSUANCE OF $1,904,500 BONDS OR NOTES OF THE BOROUGH FOR FINANCING PART OF THE APPROPRIATION BE 1T ORDAINED BY THE BOROUGH COUNCIL OF THE BOROUGH OF CARTERET, IN THE COUNTY OF MIDDLESEX, NEW JERSEY (not less than two-thirds of all members thereof affirmatively concurring) AS FOLLOWS: Section 1. The improvement described in Sectiqn 3 of this bond ordinance has heretofore been authorized to be undertaken by the Borough of Carteret, New Jersey as a general improvement. For the improvement or purpose described in Section 3, there is hereby appropriated the supplemental amount of $2,000,000, such sum being in addition to the $2,800,000 appropriated therefor by Section 3 (a) of Bond Ordinance #95-16 of the Borough finally adopted April 6, 1995 as amended by Bond Ordinance #97-37 of the Borough finally adopted November 6, 1997, and including the sum of $95,500 as the additional down payment required by the Local Bond Law. The additional down payment is now available by virtue of provision for down payment or for capital improvement purposes in one or more previously adopted budgets. Section 2. In order to finance the additional cost of the improvement or purpose not covered by application of the additional down payment, negotiable bonds are hereby authorized to be issued in the principal amount orS 1,904,500 pursuant to the Local Bond Law. In anticipation of the issuance of bonds, negotiable bond anticipation notes are hereby authorized to be issued pursuant to and within the limitations prescribed by the Local Bond Law. Section 3. (a) The improvement hereto authorized and the purpose for the financing of which the bonds are to be issued is the provision of a new library and Senior Citizens Center by the construction of additions and renovations to the building facilities on land acquired or to be acquired by the Borough pursuant to ordinance #97-37 of the Borough finally adopted November 6, 1997, including also acquisition and installation of equipment and furnishing and all work necessary therefor or incidental thereto. The project description set forth therein is hereby amended to conform to the project description set forth herein. (b) The estimated maximum amount of bonds or notes to be issued for the improvement or purpose is $4,570,000 including the $2,665,500 bonds or notes authorized by Section 3(a) of Bond Ordinance #95-16 of the Borough finally adopted April 6, 1995 as amended by Bond Ordinance #97-37 of the Borough finally adopted November 6, 1997 and the $1,904500 bonds or notes authorized herein. pAGE_ 2 . tqo. 98-28 (c) The estimated cost of the improvement or purpose is $4,800,000, including the $2,800,000 appropriated by Section 3(a) of Bond Ordinance #95-16 of the Borough finally adopted April 6, 1995 as amended by Bond Ordinance #97-37 of the Borough finally adopted November 6, 1997 and the $2,000,000 appropriated herein. Section 4. All bond anticipation notes issued hereunder shall mature at such times as may be determined by the Chief Financial Officer; provided that no note shall mature later than one year from its date. The notes shall bear interest at such rate or rates and be in such form as may be determined by the Chief Financial Officer. The Chief Financial Officer shall determine all matters in connection with notes issued pursuant to this ordinance, and the Chief Financial Officer's signature upon the notes shall be conclusive evidence as to all such determinations. All notes issued hereunder may be renewed from time to time subject to the provisions of N.J.S.A.40A:2-8(a). The Chief Financial Officer is hereby authorized to sell part or all of the notes from time to time at public or private sale and to deliver them to the purchasers thereof upon receipt of payment of the purchase price plus accrued interest from their dates to the date of delivery thereof. The Chief Financial Officer is directed to report in writing to the Governing Body at the meeting next succeeding the date when any sale or delivery of the notes pursuant to this ordinance is made. Such report must include the amount, the description, the interest rate and the maturity schedule of the notes sold, the price obtained and the name of the purchaser. Section 5. The capital budget of the Borough of Carteret is hereby amended to conform with the provisions of this ordinance to the extent of any inconsistency herewith. The resolution in the form promulgated by the Local Finance Board showing full detail of the amended capital budget and capital program as approved by the Director of the Division of Local Government Services is on file with the Clerk and is available there for public inspection. Section 6. The following additional matters are hereby determined, declared, recited and stated: (a) The improvement or purpose described in Section 3 of this bond ordinance is not a current expense, it is an improvement or purpose that the Borough may lawfully undertake as a general improvement, and no part of the cost thereof has been or shall be specially assessed on property specially benefited thereby. (b) The period of usefulness of the improvement or purpose within the limitations of the Local Bond Law', according to the reasonable life thereof computed from the date of the bonds authorized by this bond ordinance, is thirty ( 30 ) Years. (c) The Supplemental Debt Statement required by the Local Bond Law has been duly prepared and filed in the office of the Clerk, and a complete executed duplicate thereof has been filed in the office of the Director of the Division of Local Government Services in the Department of Community Affairs of the State of New Jersey. Such statement shows that the gross debt of the Borough as defined in the Local Bond Law is increased by the authorization of the bonds and notes provided in this bond ordinance by $1,904,500 and the obligations authorized herein will be within all debt limitations prescribed by that Law. NO. 98-28 PAGE_ 3 (d) An aggregate amount not exceeding $820,000 for items of expense listed in and permitted under N.J.S.A. 40A:2-20 is included in the estimated cost indicated herein for the purpose or improvement. Of this amount $420,000 was estimated for these items of expense in Bond Ordinance #95-16 of the Borough finally adopted April 6, 1995 as amended by Bond Ordinance #97-37 of the Borough finally adopted November 6, 1997, and an additional $400,000 is estimated therefor herein. Section 7. Any brant moneys received for the purpose described in Section 3 hereof shall be applied either to direct payment of the cost of the improvement or to payment of the obligations issued pursuant to this ordinance. The amount of obligations authorized but not issued hereunder shall be reduced to the extent that such funds are so used. Section 8. The full faith and credit of the Borough are hereby pledged to the punctual payment of the principal of and the interest on the obligations authorized by this bond ordinance. The obligations shall be direct, unlimited obligations of the Borough, and the Borough shall be obligated to levy ad valorem taxes upon all the taxable real property within the Borough for the payment of the obligations and the interest thereon without limitation of rate or amount. Section 9. This bond ordinances shall take effect 20 days after the first publication thereof after final adoption, as provided by the Local Bond Law. DO NOI USE SPACE BELOW Tills LINE IECORD OF COUNCIL VOTE GUTOWSKI CRILLEY ' -- " MANCUSO FAILACE ~FAZEKAS 0~BR'IEN__ X - lndicalc Vote AB - Absent NV - No~ Voting XOR - hldicatcs Vote to OverruLe Veto Adopted on first reading of the Cmmcil of the Borough of Carteret, N.J., on _ June 1 ~ 1998 JUNE 18, 1998 Adopted on second reading after hearing on SUPPLEMENTAL DEBT STATEMENT · .... - ! Borough of Carteret Middlesex ..................................................................................................... County of ........................................ As of June 1 1998 1. The net debt of the local unit after giving effect to obligations about to be author- 22,270,500 /zed, is (page 2, line 4) $ ................................ 2. Equalized valuation basis (the average of the equalized valuations of real estate, including improvements, and the assessed valuation of class II railroad property of the local unit for the last 3 preceding years) as stated in the Annual Debt State- ment or the revision thereof last filed (1) 19..?_~ Equalized Valuation Real Property with Improvements plus assessed valuation of Class II R.R. property $..1_.:.__0_.4...4._,...8..1...7..,...6...5.6 (2) 19. ~..6. Equalized Valuation Real Property with Improvements plus assessed _ valuation of Class II R.R. property $......9_~.~_.,..6...9..2...,.6_.2.7 (3) 19...?.J Equalized Valuation Real Property with Improvements plus assessed valuation of Class II R.R. property $ ....... 9_.5...9__:_.1...3..8..:.0..5.2 3. Equalized Valuation Basis -- Average of (1), (2) and (3) $ ....... ?..8.?...~..5._.4._9_(.4..4.5 4. Net debt (Line I above) expressed as a percentage of such equalized valuation basis (Line 3 above) is: Two and Twenty Five Hundreths of One 2.25 ............................................................................................................. per cent ( ........................ %) STATE OF NEW JERSEY COUNTY OF Middlesex SS. Patrick J. DeBlasio ........................................................ being duly sworn, deposes and says: Deponent is the chief financial officer of the Borough of ~- Carteret County of Middlesex here and in the statement hereinafter mentioned called "the local unit." The Supplemental Debt State- ment annexed hereto and hereky made a part hereof is a true statement of the debt condition of the local unit as of the date therein stated and is computed as provided by the Local Bond Law of New Jersey. Subscribed and sworn to before me ........... this~ Jrs~l .......... day of ..J}~i?.? .............19.78 Title Chief Finance Officer 20 Cooke Avenue, Carteret, N.J.0700 /../'~ ~/; /' . Address ............................................................................ ~/~LORIA ¢..~;DI¥1~:Y Public o~ New Jersey NOTARY PUBLIC OF NEW My Commission Expires Nov. 3r19C? (NOTE--In all cases two copies of Supplemental Debt Statement must be filed with:) DIVISION OF LOCAL GOVERNMENT SERVICES CN 803 TRENTON, NEW JERSEY 08625-0258 1. The net debt of the local unit, as stated in the Annual Debt Statement made as of December 31, 19 or the revision thereof last filed, with respect to the following classes of bonds and notes, the amount by which each class has been increased by the authorization of additional debt, and the amount by which each class has been decreased by payment of outstanding debt or reduction of tile authorizatfon to incur debt, is as follows: Ne~ Deb~ Annual a~e~er Decrease l~reaee Statz~nent (S{nce December 3J, ~ P~t) Ne~ Debt Bonds and notes for school purposes $ ............................ $ ............................ $ ............................ $ ........................... Bonds and notes for self- liquidating pur~ses $ ............................ $ ............................ $ ............................ $ ........................... Other bonds and notes , ~_~.~.~.~._5~?_~__ $ ........ ?.~ ............. , .......... ~.~ ........... $ 20,366,000 2. Net debt at the time of this s~tement is: 20,366,000 ~. The amounts and purpos~ separately itemized of the obligations about to be authorized. ~nd any deductions which may ~ m~de on account of each such item are: Pu~oae Amount Ded~tio.n N~ Supplemental-Const. of Center ................................................ $ ....................... $ ......................... $ .................... 4. The net debt of the local unit determined by the addition of the net amounts stated in items 2 and 3 above is: ~.._2.,..~..7...0..,...5..0..0. ...... NOTES A. If authorization of bonds or notes Js permitted by an exception to the debt limitation, specify the particular paragraph of N.J.S. 40A:2-7 or other section or law providing such exception. B. This form is also to be used in the bonding of separate (not Type I) ~chool districts a~ required by N.J.$. 18A:24-16, and fi]ed before the school distr~ct election. In such case pages 4, 5, and 6 should be completed to set forth computation supporting any deduction in line 3 above. C. Only the acount of bonds or notes about to be authorized should be entered. The amount of the "down payment" pro- vided in the bond ordinance should not be included nor shown as a deduction. 3 SPECIAL DEBT STATEMENT BORROWING POWER AVAILABLE UNDER N.J.S. 40A:2-?lf) 1. Amount of accumulated debt incurring capacity under R. S. 40:1-16(d) as shown on the l~test Annual Debt Statement. $ .............................. 2.Obligations heretofore authorized in excess of debt Hmitation and pursuant to: (a) N.J.S. 40A:2-7, paragraph (d) $ (b) N.J.S. 40A:2-7, paragraph (f) $ ........................... (c) N.J.S. 40A:2-7, paragraph (g) $ ............................ Total $ 3. Available debt incurring capacity (N.J.S. 40A:2-7(f)) $ .................... 4. Obligations about to be authorized pursuant toN.J.S.40A:2-7(f) $ (If item 3 equals or exceeds item 4, obligations may be author- ized) BORROWING POWER AVA LABLE UNDER N.J.S. 40A:2-7(g) 1. Total appropriations made in local unit budget for current fiscal year for payment of obligations of local unit included in Annual Debt Statement or revision thereof last filed as of pre- ceding December 31 $ ................... 2. Less the amount of such obIigations which constitute utility and assessment obligations: $ .............. 3. Excess of item I over item 2: $ 4. Amount raised in the tax levy of the current fiscal year by the local unit for the payment of bonds or notes of any school district $ 5. Amount equal to 2/3 of the sum of item 3 and item 4 $ ............. 6. (a) Amount of obligations heretofore authorized under N.J.S.40A:2~7(g) in current fiscal year $ ................ (b) Amount of authorizations included in 6(a) which were heretofore repealed $ ...................... (c) Excess of item 6(a) over item 6(b) $ ...................... 7. Excess of item 5 over item 6(c) $ .......................... 8. Obligations about to be authorized $ ..................... 9. Borrowing capacity still remaining after proposed authorization (item 7 less item 8) $ ........................ (If item 7 equals or exceeds item 8, obligations may be authorized) Not Applicable Not Applicable COMPUTATION OF SCHOOL INDEBTEDNESS AND DEDUCTIONS UNDER PROVISIONS OF N. J. S. 18A: 24-17 *Note: In a "Consolidated" School District, lines 18 to 24 must first be filled in. N. J. S. 1SA: 24-19 (Lines 1 to 7) I. Average of equalized valuations (page 1, line 3) $ ............................. *2. Gross School District Debt outstanding and authorized and unissued (not includ- ing proposed issue) $ ................................ 3. Less: Sinking funds held for payment of School Debt, by Sinking Fund Commission $ ................................ 4. Net debt for school purposes (line 2, minus line 3) $ ............................... 5. Debt deduction for school purposes: ................ % (as per line below) $ ................................ (a) 21/.z% Kindergarten or Grade 1 through Grade 6 $ ................................ (b) 3 % Kindergarten or Grade 1-through Grade 8 $ ................................ (c) 3~/~% Kindergarten or Grade I through Grade 9 $ ................................ (d) 4 % Kindergarten or Grade 1 through Grade 12 $ ................................ (e) Other (insert applicable description) (0 Additional State Schooi Building Aid Bonds N.J.S. ISA: 58-33.4 (d)) (if included in line 2) $ ............................. 6. Available debt deduction (excess, if any, of line 5 over line 4 -- enter on page 2, line 3 as "Deduction," not exceeding, however, the "Amount" shown in that line.) $ ................................ '7. School Bonds about to be authorized $ ................................ Note: Omit lines 8 to 13, if line 6 equals or exceeds line 7, orif shown on line 17 N. J. S. 1SA: 24-22 (Lines 8 to 13) 8. Excess of line 7 over line 6 $ ............................. 9. Municipal Debt Limit (3!~% of line 1 above) $ ................................ 10. Net Debt (page 2, line 2) $ ................................ 11. Available Municipal Borrowing Margin (excess, if any, of line 9 over line 10) $ ................................ 12. Use of Municipal Borrowing Margin (line 8 not exceeding line 11) $ 13. Remaining Municipal Borrowing Margin after authorization of proposed School Bonds (line 11 minus line 12) $ .............................. Note: Omit lines 14 to 16, if tine 11 equals or exceeds line 8, orifshown on line 17 N. J. S. 18A: 24~24 (lines I4 to 16) 14. Amount of line 7 $ ................................ 15. Amount of Deduction: (a) Amount of line 6 $ (b) Amount of line 11 $ ............................. Total $ ............................. 16. Excess of line 14 over line 15 $ ............... N. J. S. I8A: 58-33.4(d) (line 17) 17. Additionai State School Building Aid Bonds about to be authorized (amount of line 7) $ ....................... 18. Total of average equalized valuation basis of each municipality in whole School District MUNICIPALITY AMOUNT $ 19. Gross School District Debt outstanding and authorized and unissued (not includ- ing proposed issue) $ ............................... Not Applicable 6 20. Less: School District Debt apportioned to other municipalities, N.J.S. 40A:2-43 Total of average equalized valuation basis of each municipality in whole '-- School District $ ........... (line 18, minus line 1) $ equals $ ............. times line 19 Divided by total o£ average equalized valuation basis of each municipality in whole School District $ .................................. (line 18) $ ................................ 21. Gross School District Debt of this municipality only (line 19 minus line 20) $ .............................. 22. School Bonds about to be authorized $ ................................ 23. Less: Share of Bonds (line 22) apportioned to other municipalities, N.J.S. 40A:2~43 Total of average equalized valuation basis of each municipality' in whole School District $ ....................... (line 18, minus line 1) $ ................................... equals $ ............................ times line 22 divided by total of average equalized valuation basis o£ each municipality in whole School District $ ................................ (line 18) $ .............................. 24. This local unit's share of Bonds about to be authorized (line 22 minus line 23) $ ............................. 'Note: In a "Consolidated" School District the amount shown on line 21 must be entered on line 2 and the amount shown on line 24 must be entered on line 7. COMPUTATION AS TO INDEBTEDNESS FOR IMPROVEMENT OR EXTENSION OF AN EXISTING MUNICIPAL PUBLIC UTILITY, N.J.S. 40A:2-7(h); N.J.S. 40A:2-47(a) Municipal Public Utility ..................................................................... 1. Annual Debt Statement, December 31, 19 ........ excess in revenues of utility $ ........... 2. Less: Interest and debt redemption charges computed as provided in N.J.S. 40A:2-47(a) for all obligations heretofore authorized but not issued to the extent not already charged to income in annual debt statement. $ ........... 3. Excess in revenues remaining prior to authorization of proposed obligations (line 1 minus line 2) $ ........................... 4. Interest and debt redemption charges calculated for the obligations about to be authorized (N.J.S. 40A:2-47 (a)) (a) Interest for one year at 41/2% $ (b) First installment of serial bonds legally issuable $ ........................... (c) Total charges (Items (a) and (b)) $ ............................ Note: If line 3 equals or exceeds line 4, obligations may be authorized under the provisions of N.J.S. 40A:2-7(h) as limited by N.J.S. 40A:2-47(a). I, ., Director of the Division of Local Government Services in the Department of Community Affairs of the State of New Jersey DO HEREBY CERTIFY that I have compared this copy of a Supplemental Debt Statement of the above local unit with the original Supplemental Debt Statement filed in the Office of the Director of the Division of Local Government Services in the Department of Community Affairs of the State of New Jersey on , and that this is a true copy of said Statement and the whole thereof. IN WITNESS WHEREOF, I have hereunto set my hand as Director of the Division of Local Government Services in the Department of Community Affairs of the State of New Jersey, this day of ., 19 "-- Not Applicable D/rector SUPPLEMENTAL DEBT STATEMENT -- OF -- Carteret ~ 4t "~ Middlesex Borough of .................... l.t County of ........................................ As of June 1 19_.9_..8_.. 1. The net debt of the local unit after giving effect to obligations about to be author- 22,270,500 ized, is (page 2, line 4) $ ................................ 2. Equalized valuation basis (the average of the equalized valuations of real estate, including improvements, and the assessed valuation of class II railroad property of the local unit for the last 3 preceding years) as stated in the Annual Debt State- ment or the revision thereof last filed (1) 19 _~ Equalized Valuation Real Property with Improvements plus assessed valuation of Class II R.R. property $.~_,_.~.Z..~__,___~_:_:._,_[_..(6. m~A ~., a~ (2) 19 ~6_ Equalized Valuation Real Property with Improvements plus assessed 964,692,627 valuation of Class II R.R. property $ ................................ (3) 19...2.~ Equalized Valuation Real Property with Improvements plus assessed valuation of Class II R.R. property $ ....... .9_.5_..9...,..1__3_~.!_.(~..5.2 989,549 445 3. Equalized Valuation Basis -- Average of (1), (2) and (3) $ .......................... '. ..... 4. Net debt (Line 1 above) expressed as a percentage of such equalized valuation basis (Line 3 above) is: Two and Twenty Five Hundreths of One 2.25 ........................................................................................... per cent ( ........................ %) STATE OF NEW JERSEY ss. COUNTY OF Midd~e~.?~ ....... Patrick J. DeBlasio ................................................. being duly sworn, deposes and says: Deponent is the chief financial officer of the Borough of Carteret County of Middlesex here and in the statement hereinafter mentioned called "the local unit." The Supplemental Debt State- ment annexed hereto and hereky made a part hereof Js a true statement of the debt condition of the local unit as of the date therein stated and is computed as provided by the Local Bond Law of New ~ersey. Subscribed and this ..~._~.t~.~ .......... day of June , 98 Chief Finance Officer ....................... 19 ...... Title ......................................................................... 20 Cooke Avenue, Carteret, N.J.0700 / -. . / Notary Public o~ New Jersey ~.,LORI,~ C. ~GOODRI~N NOTARY PUBLI~ OF NEW (NO'~'~ ~---Upnmiltt°nc['~l~'sre~,~le¥'c3a~%""~'--- ' --- of Supplemental Debt Statement must be filed with:) DIVISION OF LOCAL GOVERNMENT SERVICES CN 803 TRENTON, NEW JERSEY 08625-0258 2 I. The net debt of the local unit. as stated in the Annual Debt Statement made as of December 31, 19 or the revision thereof last filed, with respect to the following classes of bonds and notes, the amount by which each class has been increased by the authorization of additional debt, and the amount by which each class has been decreased by payment of outstanding debt or reduction of the authorization to incur debt, is as follows: Annu~! Bonds and notes for school purposes $ ............................ $ ............................ $ ............................ $ ............................ Bonds and notes for self- liquidating pur~ses $ ............................ $ ............................ $ ............................ $ ........................... 2. Net debt at the time of this s~tement is: 20 ~66 ~000 3,The amounts and purpos~ separately itemized of the obligations about to be authorized, and any deductions which may (see ~te Pu~oae Amount Ded~M~n Ne~ Supplemental-Const. of ................................................ $ ....................... $ ......................... $ ................... .............................................. $ .......................... $ ......................... 4. The net debt of the local unit determined by the addition of the net amounts stated in items 2 and 3 above ts: ~._2.'.,~.?...0..!..5_.?_.0. ..... NOTES A. If authorization of bonds or notes is permitted by an exception to the debt limitation, specify the particular paragraph of N,J.S. 40A:2-7 or other section or law pro¥iding such exception. B. This form is also to be used in the bonding of separate (not Type 1) school districts as required by N.J.S. 18A:24-I6, and filed before the school district election. In such case pages 4, 5, and 6 should be completed to set forth computation supporting an}' deduction in line 3 above. C. Only the acount of bonds or notes about to be authorized should be entered. The amount of the "down payment" pro- vided in the bond ordinance should not be included nor shown as a deduction. SPECIAL DEBT STATEMENT BORROWING POWER AVAILABLE UNDER N.J.S. 40A:2-?(f) 1. Amount of accumulated debt incurring capacity under R. S. 40:1-16(d) as shown on the I,test Annual Debt Statement. $ ........................... 2. Obligations heretofore authorized in excess of debt limitation and pursuant to: (a) N.J.S. 40A:2-7, paragraph (d) $ ................. (b) N.J.S. 40A:2-7, paragraph (f) $ ........................ (c) N.J.S. 40A:2-7, paragraph (g) $ ........................ Total $ ....................... 3. Available debt incurring capacity (N.J.S. 40A:2-7(f)) $ ................... 4. Obligations about to be authorized pursuant toN.J.S.40A:2-7(f) $ .................... (If item 3 equals or exceeds item 4, obligations may be author- --- ized) BORROWING POWER AVAILABLE UNDER N.J.S. 40A:2-7(g) I. Total appropriations made in local unit budget for current fiscal year for payment of obligations of local unit included in Annual Debt Statement or revision thereof last filed as of pre- ceding December 2,1 $ ..................... 2. Less the amount of such obligations which constitute utility and assessment obligations: $ ............... 3. Excess of item 1 over item 2: $ ................ 4. Amount raised in the tax levy of the current fiscal Year by the local unit for the payment of bonds or notes of any school district $ ............... 5. Amount equal to 2/3 of the sum of item 3 and item 4 $ .............. 6. (a) Amount of obligations heretofore authorized under N.J.S.40A:2-7(g) in current fiscal year $ ................. (b) Amount of authorizations included in 6(a) which were heretofore repealed $ ....................... tc) Excess of item 6(a) over item 6(b) $ ........................ 7. Excess of item 5 over item 6(c) $ .......................... 8. Obligations about to be authorized $ ............... 9. Borrowing capacity still remaining after proposed authorization (item 7 less item 8) $ ..................... (If item 7 equals or exceeds item 8, obligations may be authorized) Not Applicable Not Applicable COMPUTATION OF SCHOOL INDEBTEDNESS AND DEDUCTIONS 5 UNDER PROVISIONS OF N. J. S. 18A: 24-17 *Note: In a "Consolidated" School District, lines 18 to 24 must first be filled in. N. J. S. 18A: 24-19 (Lines 1 to 7) 1. Average of equalized valuations (page 1, line 3) $ .............................. *2. Gross School District Debt outstanding and authorized and unissued (not includ- ing proposed issue) $ ............................... 3. Less: Sinking funds held for payment of School Debt, by Sinking Fund Commission $ ................................ 4. Net debt for school purposes (Iine 2, minus line 3) $ ................................ 5. Debt deduction for school purposes: ................ % (as per line below) $ ................................ (a) 21/a% Kindergarten or Grade 1 through Grade 6 $ ............................... (b) 3 ~ Kindergarten or Grade 1-through Grade 8 $ ................................ (c) 3~/.z% Kindergarten or Grade i through Grade 9 $ ................................ (d) 4 % Kindergarten or Grade 1 through Grade 12 $ ................................ (e) Other (insert applicable description) (0 Additional State School Building Aid Bonds N.J.S. 18A: 58-33.4 (d)) (if included in line 2) $ ........................... 6. Available debt deduction (excess, if any, of line 5 over line 4 -- enter on page 2, line 3 as "Deduction," not exceeding, however, the "Amount" shown in that line.) $ ................................ *7. School Bonds about to be authorized $ ................................ Note: Omit lines 8 to 13, if line 6 equals or exceeds line 7, orifshown on line 17 N. J. S. 18A: 24-22 (Lines 8 to 13) 8. Excess of line 7 over line 6 $ .............................. 9. Municipal Debt Limit (3!4% of line 1 above) $ ................................ 10. Net Debt (page 2, line 2) $ ................................ 11. Available Municipal Borro;vinK Margin (excess, if any, of line 9 over line 10) $ ............................... 12. Uae of Municipal Borrowing Margin (line 8 not exceeding line 11) $ ........................... 13. Remaining Municipal Borrowing Margin after authorization of proposed School Bonds (line ll minus line 12) $ .............................. Note: Omit lines 14 to 16, if line 11 equals or exceeds line 8, orifshown on line 17 N. J. S. 1SA: 24-24 (lines 14 to 16) 14. Amount of line 7 $ ................................ 15. Amount of Deduction: (a) Amount of line 6 $ ..................... (b) Amount of line 11 $ .............................. Total $ ........................... 16. Excess of line 14 over line 15 $ ......... N. J. S. I8A: 58-33.4(d)(line 17) 17. Additional State School Building Aid Bonds about to be autliorized (amount of line 7) $ ......................... I8, Total of average equalized valuation basis of each municipality in whole School District MU'.N ICIPALI fY AMOUNT ................................... $ ....................... $ ........................... 19. Gross School D/strict Debt outstanding and authorized and unissued (not includ- ing proposed issue) $ ................................ Not Applicable 6 20. Less: School District Debt apportioned to other municipalities, N.J.S. 40A:2-43 ~-- Total of average equalized valuation basis of each municipaIity in whole School District $ .......... (line 18, minus line 1) $ ......................................... equals $ ............ times line 19 Divided b7 total of average equalized valuation basis of each municipality in whole School District $ ............................... (line 18) $ ................................ 21. Gross School District Debt of this municipality only (line 19 minus line 20) $ ............................. 22. School Bonds about to be authorized $ ................................ 23. Less: Share of Bonds (line 22) apportioned to other municipalities, N.J.S. 40A:2-43 Total of average equalized valuation basis of each municipality' in whole School District $ ............................ (line 18, minus line 1) $ .............................. equals $ ................................. , times line 22 divided by total of average equalized valuation basis of each municipality in whole School District $ ...................................(line 18) $ .............................. 24. This local unit's share of Bonds about to be authorized (line 22 minus line 23) $ ............................... *Note: In a "Consolidated" School District the amount shown on line 2I must be entered on line 2 and the amount shown on line 24 must be entered on line 7. COMPUTATION AS TO INDEBTEDNESS FOR IMPROVEMENT OR EXTENSION OF AN EXISTING MUNICIPAL PUBLIC UTILITY, N.J.S. 40A:2-?(h); N.J.S. 40A:2-4?(a) Municipal Public Utility 1. Annual Debt Statement, December 31, 19 ........ excess in revenues of utility $ ............. 2. Less: Interest and debt redemption charges computed as provided in N.J.S. 40A:2-47(a) for all obligations heretofore authorized but not issued to the extent not already charged to income in annual debt statement. $ ...... 3. Excess in revenues remaining prior to authorization of proposed obligations (line 1 minus line 2) $ ......... 4. Interest and debt redemption charges calculated for the obligations about to be authorized (N.J.S. 40A:2-47(a)) (a) Interest for one year at 4~/-2% $ ......................... (b) First installment of serial bonds legally issuable $ (c) Total charges (Items (a) and (b)) $ ............................... Note: If line 3 equals or exceeds line 4, obligations may be authorized under the provisions of N.J.S. 40A:2-7(h) as limited by N.J.S. 40A:2-47(a). I, ., Director of the Division of Local Government Services in the Department of Community Affairs of the State of New Jersey DO HEREBY CERTIFY that I have compared this copy of a Supplemental Debt Statement of the above local unit with the original Supplemental Debt Statement filed in the office of the Director of the Division of Local Government Services in the Department of Community Affairs of the State of New Jersey on ,.[[~h~ ~ v ~ , and that this is a true copy of said Statement and the whole thereof. IN WITNESS WHEREOF, I have hereunto set my hand as Director of the Division of Local Government .Sed~.ices in the Department of Community Affairs of the State of New Jersey, this ~*" dayof ,.]o,,~ : 19 D/rector