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Home My Public Portal AboutOrd. 16-20No. 16 -2 fflrbi can-a of t4E Poroug4 of Tarteret, ORDINANCE PROVIDING FOR THE CONSTRUCTION OF A MUNICIPAL MARINA IN AND BY THE BOROUGH OF CARTERET, IN THE COUNTY OF MIDDLESEX, NEW JERSEY. BE IT ORDAINED BY THE BOROUGH COUNCIL OF THE BOROUGH 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 Section 3(a) of this ordinance hereby authorized to be undertaken by the Borough of Carteret, in the County o Middlesex, New Jersey (the 'Borough ") as a general improvement. For the improvement or purpose described in Section 3(a), there is hereby appropriated the sum of $565,150, including a $565,150 grant expected to be received from the State o' New Jersey Department of Environmental Protection Green Acres Program (the "State Grant "). Pursuant to N.J.S.A. 40A:2- 11(c), no down payment is provided for the costs of the improvements since the project described in Section 3(a) hereof is being funded by the State Grant. Section 2. In order to finance the cost of the improvement or purpose and in anticipation of receipt of the State Grant, negotiable bonds are hereby authorized to be issued in the principal amount of $565,150 pursuant to the Local Bond Law. In anticipation of the issuance of the bonds, negotiable bond anticipation notes are hereby authorized to be issued pursuant to and within the limitations prescribed by the Local Bond Law. M1111111111ifLS:fa� PAGE 2 of 5 Section 3. (a) The improvement hereby authorized and the purpose for the financing of which the bonds are to be issued is the construction of a municipal marina at the site of the Borough's Waterfront Park, including all work and materials necessary and incidental thereto. (b) The estimated maximum amount of bonds or bond anticipation notes to be issued for the improvement or purpose is as stated in Section 2 hereof. (c) The estimated cost of the improvement or purpose is equal to the amount of the appropriation herein made therefor. 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 bond anticipation note shall mature later than one year from its date. The bond anticipation 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 bond anticipation notes issued pursuant to this ordinance, and the chief financial officer's signature upon the bond anticipation notes shall be conclusive evidence as to all such determinations. All bond anticipation notes issued hereunder may be renewed from time to time subject to the provisions of the Local Bond Law. The chief financial officer is hereby authorized to sell part or all of the bond anticipation 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 bond anticipation notes pursuant to this ordinance is made. No. 1 h -20 PACE 3of 5 _ Such report must include the amount, the description, the interest rate and the maturity schedule of the bond anticipation notes sold, the price obtained and the name of the purchaser. Section 5. The Borough hereby certifies that it has adopted a capital budget or a temporary capital budget, as applicable. The capital or temporary capital budget of the Borough is hereby amended to conform with the provisions of this ordinance to the extent of any inconsistency herewith. To the extent that the purposes authorized herein are inconsistent with the adopted capital or temporary capital budget, a revised capital or temporary capital budget has been filed with the Division of Local Government Services. Section 6. The following additional matters are hereby determined, declared, recited and stated: (a) The improvement or purpose described in Section 3(a) of this 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 benefitted 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 ordinance, is 40 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 NO. 1 6_20 PAGE G of 5 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 ordinance by $565,150, and the obligations authorized herein will be within all debt limitations prescribed by the Local Bond Law. (d) An aggregate amount not exceeding $50,000 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. Section 7. The Borough hereby declares the intent of the Borough to issue bonds or bond anticipation notes in the amount authorized in Section 2 of this ordinance and to use the proceeds to pay or reimburse expenditures for the costs of the purposes described in Section 3(a) of this ordinance. This Section 7 is a declaration of intent within the meaning and for purposes of Treasury Regulations. Section 8. Any grant moneys received for the purpose described in Section 3(a) hereof, including the State Grant, 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 9. The chief financial officer of the Borough is hereby authorized to prepare and to update from time to time as necessary a financial disclosure document to be distributed in connection with the sale of obligations of the Borough and to execute such disclosure document on behalf of the Borough. The chief financial officer is further authorized to enter into the appropriate undertaking to provide secondary market disclosure on behalf of the Borough pursuant to Rule 15c2 -12 of the Securities and No 1(1 -20 PAGE of S Exchange Commission (the 'Rule ") for the benefit of holders and beneficial owners of obligations of the Borough and to amend such undertaking from time to time in connection with any change in law, or interpretation thereof, provided such undertaking is and continues to be, in the opinion of a nationally recognized bond counsel, consistent with the requirements of the Rule. In the event that the Borough fails to comply with its undertaking, the Borough shall not be liable for any monetary damages, and the remedy shall be limited to specific performance of the undertaking. Section 10. 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 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 11. This ordinance shall take effect 20 days after the first publication thereof after final adoption, as provided by the Local Bond Law. LINE RECORD OF COUNCIL VOTE COUNCIL 'YES NO Wp.B. COUNCILIDfAN YES NO NV A.B. BFILILM X qL X DIAZ X [d t11�9 X X DIM? CIO - _pique X - Indicate Vote AB - Absent NV - Not Voting XOR - Indicates Vote to O Veto Adopted on,first reading of the Council of the Borough of - Carteret, N.7„ on Adopted on second reading after hearing on August -18, �tA, 2016 2016 APPR BY ON '� (t MAYOR !... , MUNICIPAL. CLERK AFFIDAVIT OF PUBLICATION Publisher's Fee $42.24 Affidavit $35.00 State of New Jersey }SS. Middlesex County Personally appeared v } Of the Home News Tribune, a newspaper printed in Freehold, New Jersey and published in East Brunswick, in said County and State, and of general circulation in said county, who being duly sworn, deposeth and saith that the advertisement of which the annexed is a true copy, has been published in the said newspaper 1 times, once in each issue as follows: 08/09/16 A.D 2016 Ad Number: 0001488357 Sworn and subscribed before me, t is 9 ay of August, 2016 0 %111 11 11 1 rro r r - �J Csco�trllslo�r`fN'�.a' m'n >. NOV. fr 13 rq ;s 2019 P .o �, �lrillilt {�� i t Ad Number: 0001488357 Sworn and subscribed before me, t is 9 ay of August, 2016 0 %111 11 11 1 rro r r - �J Csco�trllslo�r`fN'�.a' m'n >. NOV. fr 13 rq ;s 2019 P .o �, �lrillilt {�� Ad Number: 0001488357 Run Dates: 08109/16 BOROUGH OFCARTERET ORDINANCE #16 -20 NOTICE OF PENDING ORDINANCE AND SUMMARY The ordinance, the summary terms of which are included herein, was introduced and passed upon first reading at a meeting of the governing body of the Borough of Carteret, in the County of Mid- dlesex, State of New Jersey, on _August 4, 2016. It will be further considered for final passage, after public hearing thereon, at a meeting of the governing body to be held at the Municipal Build- ing, in the Borough on August 18, 2016 at _6:00_ o'clock _p.m. During the week prior to and up to and including the date of such meeting, copies of the full ordinance will be available at no cost and during regular business hours at the Clerk's office for the members of the general public who shall re- quest the same. The summary of the terms of such ordinance fol- lows: Title: "ORDINANCE PROVIDING FOR THE CONSTRUCTION OF A MU- NICIPAL MARINA IN AND BY THE BOROUGH OF CARTERET, IN THE COUNTY OF MIDDLESEX, NEW JERSEY" Purpose: The construction of a municipal marina at the site of the Borough's Waterfront Park, including all work and materials neces- sary and incidental thereto. Appropriation: $565,150 Bonds /Notes Authorized: $565,150 Grants Appropriated: $565,150 grant expected to be received from the State of Jersey Department of Environmental Protection Green Acres Program Section 20 Costs: $50,000 Useful Life: 40 years Kathleen M. Barney, Clerk This Notice is published pursuant to N.J.S.A. 40A:2 -17. Publish: August 9, 2016 The Home News Tribune ($42.24) 001488357 -01 AFFIDAVIT OF PUBLICATION The following is a true copy of an Ordinance or Resolution of the Borough of Carteret that has appeared in the Home News Tribune, a newspaper which is printed in Freehold, New Jersey and published in Neptune, in said County and State and of general circulation in said county. One 1 time(s), once in each issue as follows: August 9, 2016 Notary Public of New Jersey LINDA A. RIVERA NO IARY PrHI.IC S IA IP OI'Nl : \t it :RSLY MY COMMISSION EXPIRES MAY 2, 2021 Kathleen M. Barney, MMC 'y Municipal Clerk BOROUGH OF CARTERET ORDINANCE 416 -20 -` Sworn and subscribed before me thisakI day of P(� NOTICE OF PENDING ORDINANCE AND SUMMARY The was ordinance, the summary terms of which are included herein, was Introduced and passed,uPon. first reading at a meeting of the dlesex, state . New Jersey, op August t 2016. It will be. fu h . cons(dered for final Passage, after public hearing thereon, at a meeting of the governing body to be held at the Municipal Build -, Ing, In the Borough on August 18, 2016 at _6:00_ o'clock _p.m. During the week prlor to and up to and including the date of such meeting, copies of the full ordinance will be available at no cost and during regular business hours at the Clerk's office for the members of the general public who shall re- quest the same. The summary of the terms of such ordinance fol- ows: ouViUmrw EUR THE CONSTRUCTION OF .A MU- AND By THE BOROUGH OF CARTERET, IN THE EX, NEW JERSEY" Rion of a municipal marina at the site of the t Park,: Including all work and materials neces ereto... 50 ad; $565,15o $565,150 grant expected to be received from apartmmnt, of Environmental Protection Green , 00 lark I pursuant to N.J.S.A. 40A:2-17. i 1e AFFIDAVIT OF PUBLICATION The following is a true copy of an Ordinance or Resolution of the Borough of Carteret that has appeared in the Home News Tribune, a newspaper which is printed in Freehold, New Jersey and published in Neptune, in said County and State and of general circulation in said county. One (1) time(s), once in each issue as follows: August 25, 2016 .BOROUGH OF CARTERET ORDINANCE #16 -20 ORDINANCE STATEMENT AND SUMMARY {he ordinance, the shmma� a to p cost and during regular sinas, .hours, at the pfUce for m Clerk's embers of the rk's eral public who request the same. The summary cf the �f such ordinance follows: Title: 'ORDINANCE PROVIDING FOR THE CONSTRUCTION OF A MUNICIPAL MARINA IN AND BY THE BOROUGH OF CARTERET, IN THE COUNTY OF MIDDLESEX, NEW JERSEY' Purpose: The construction of a 150 $565,150 Grants Appropriated: $565,150 grant expected to be received from the State of Jersey Depart - ment of Environmental Protec- tion Green Arrca Pmnom Clerk Notary Public of New Jersey Kathleen M. Barney, C LINDA A. P UBL IC RIVER Municipal Cleric NOTARY PUBLIC PATE OF NEW JERSEY Sworn and subscrlbetl��f; EXPIRES MAY 2, 2021 me this .. day of Ad Number: 0001526381 Run Dates: 08/25/16 BOROUGH OFCARTERET ORDINANCE #16 -20 ORDINANCE STATEMENT AND SUMMARY The ordinance, the summary terms of which are included herein, has been finally adopt- ed by the Borough of Carteret, in the County of Middlesex, State of New Jersey on August 18 , 2016 and the 20 day peri- od of limitation within which a suit, action or proceeding questioning the validity of such ordinance can be commenced, as provided in the Local Bond Law, has begun to run from the date of the first publication of this statement. Copies of the full ordinance are available at no cost and during regular business hours, at the Clerk's office for members of the gen- eral public who request the same. The summary of the terms of such ordinance follows: Title: "ORDINANCE PROVIDING FOR THE CONSTRUCTION OF A MUNICIPAL MARINA IN AND BY THE BOROUGH OF CARTERET, IN THE COUNTY OF MIDDLESEX, NEW JERSEY" Purpose: The construction of a municipal marina at the site of the Borough's Waterfront Park, including all work and materi- als necessary and incidental thereto. Appropriation: $565,150 Bonds /Notes Authorized: $565,150 Grants Appropriated: $565,150 grant expected to be received from the State of Jersey Depart- ment of Environmental Protec- tion Green Acres Program Section 20 Costs: $50,000 Useful Life: 40 years Kathleen M. Barney, Clerk ($23.76) 01526361 -01 AFFIDAVIT OF PUBLICATION Publisher's Fee $23.76 Affidavit $35.00 State of New Jersey }SS. �60101 Middlesex County t �. ✓� o- Personally appeared. r f Of the Home News Tribune, a newspaper printed in Freehold, New Jen'so} 'id published in East Brunswick, in said County and State, and of general circulation in said county, who being duly sworn, deposeth and saith that the advertisement of which the annexed is a true copy, has been published in the said newspaper 1 times, once in each issue as follows: 08/25/16 A.D 2016 l ' ✓' R. �� t Ad Number: 0001526381 and subscribed before me, this 25 day )bf August, 2016 a` �a LNN I E C SS 0,V C r a o 2 19 v 2019 n ' SfAlf °j //f @fill\\\ \l