HomeMy Public PortalAboutOrd. 17-1314 Nr�tx��x�.cr
No 17 -13 of thQ
3..arvugh of Carterd, �
Councilman
Presents the following Ordinance Seconded by Councilman
ORDINANCE AMENDING SECTION 3 OF ORDINANCE
#15 -01 AND PROVIDING A SUPPLEMENTAL
APPROPRIATION OF $2,000,000 FOR VARIOUS WATER
AND STORMWATER IMPROVEMENTS IN AND BY THE
BOROUGH OF CARTERET, IN THE COUNTY OF
MIDDLESEX, NEW JERSEY, AND AUTHORIZING THE
ISSUANCE OF $2,000,000 BONDS OR NOTES OF THE
BOROUGH TO FINANCE PART OF THE COST THEREOF.
BE IT 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. Section 3 of Ordinance #15 -01 of the Borough of Carteret, in the
County of Middlesex, New Jersey (the 'Borough "), finally adopted February 26, 2015
( "Ordinance #15 -01) is hereby amended to read as follows:
The improvement hereby authorized and the purpose for the financing of which
the bonds are to be issued is for the construction of storm sewer collection
infrastructure upgrades, construction of an equalization basin, a stormwater
pump station, a force main, a discharge outfall to Noes Creek with a tide gate,
and collection system upgrades along Noe Street, Harris Street, Pershing
Avenue, Emerson Street, Lowell Street, Industrial Highway, Leick Avenue,
Thornall Street, Whittier Street and Wheeler Avenue and the construction of a
generator building including the replacement of storm water pipes, and the
acquisition and installation of all equipment and materials and all work necessary
therefore or incidental thereto.
Section 2. The improvement described in Section 4(a) of this ordinance has
heretofore been authorized to be undertaken by the Borough as a general improvement.
For the improvement or purpose described in Section 4(a), there is hereby appropriated
the supplemental amount of $2,000,000, such sum being in addition to the $8,700,000
appropriated therefor by Ordinance #15 -01. Pursuant to N.J.S.A. 40A:2- 11(c), no down
payment is provided for the costs of the improvement since the project described in
Section 3(a) hereof is being funding by the New Jersey Environmental Infrastructure
Trust ( "NJEIT").
NO. 17 -13 PAGE 2
Section 3. In order to finance the additional cost of the improvement or
purpose, negotiable bonds are hereby authorized to be issued in the principal amount of
$2,000,000 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.
Section 4. (a) The improvement heretofore authorized and the purpose for the
financing of which the bonds are to be issued is the Project.
(b) The estimated maximum amount of bonds or bond anticipation notes to be
issued for the improvement or purpose is $10,700,000, including the $8,700,000
authorized by Ordinance #15 -01 and the $2,000,000 bonds or bond anticipation notes
authorized herein.
(c) The estimated cost of the improvement or purpose is $10,700,000, including
the $8,700,000 appropriated by Ordinance #15 -01 and the $2,000,000 appropriated
herein.
Section 5. 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 bond
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. 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 6. 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
NO. 17 -13 PAGE
II 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 7. The following additional matters are hereby determined, declared,
recited and stated:
(a) The improvement or purpose described in Section 4(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 bond ordinance, is 40 years. The period
of usefulness listed in Ordinance #15 -01 is hereby amended to 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
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 $2,000,000, and the obligations authorized herein will be within all
debt limitations prescribed by the Local Bond Law.
(d) An aggregate amount not exceeding $1,000,000 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, $890,000 was
estimated for these items of expense in Ordinance #15 -01 and an additional $110,000
is estimated therefor herein.
Section 8. The Borough hereby declares the intent of the Borough to issue
bonds or bond anticipation notes in the amount authorized in Section 3 of this ordinance
and to use the proceeds to pay or reimburse expenditures for the costs of the purpose
described in Section 4(a) of this ordinance. This Section 8 is a declaration of intent
within the meaning and for purposes of Treasury Regulations.
Section 9. Any grant moneys received for the purpose described in Section
4(a) 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.
NO. 17 -13
PAGE 4
Section 10. 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
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 11. 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 12. This ordinance shall take effect 20 days after the first publication
thereof after final adoption, as provided by the Local Bond Law.
DO NOT USE SPACE B ELON "'HIS LINE
RECORD OF COUNCIL VOTE
COUNCILMAN
YES
NO
NV
A.B.
COUNCILMAN
YES
NO
NV
A.B.
BELLINO
JOHAL
DIAZ
KRUM
DIMASCIO
X
NAPLES
X - Indicate Vote AB - Absent NV - Not Voting XOR - Indicates Vote to Overrule Veto
Adopted on first reading of the Council of the Borough of Carteret, N.J., on Illy 20, 2017
Adopted on second reading after hearing on Au
US t 17
APPROVED BY
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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 7, 2017
Kathleen M. Barney, MMC
Municipal Clerk
BOROUGH OF CARTERET
ORDINANCE #17 -13
NOTICE OF PENDING ORDINANCE AND SUMMARY
CARMELA POGORZELSKI
NOTARY PUBLIC OF NEW JERSEY
W Commission Expires 9/27/2017
Sworn and subscribed before
me this 1 1i 'day of sf 2b i 7
The ordinance, the summary terms of which are included herein,
was introduced and passed upon first reading at a meeting of the
gover governing body of the Borough of Carteret, in the County of Mid-
ning State of New Jersey, on July 20, 2017. It will be further con-
sidered for final passage, after public hearing thereon, at a meeting
of the governing body to be held at the Municipal Building, in the
Borough on August 17, 2017 at 6:00 o'clock p.m. DurinSI 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 me of the general
public who shall request the same. The summary of the terms of
such ordinance follows:
Title: ORDINANCE AMENDING SECTION 3 OF ORDINANCE #15 -01
AND PROVIDING A SUPPLEMENTAL APPROPRIATION OF $2,000,000
FOR VARIOUS WATER AND STORMWATER IMPROVEMENTS IN AND
BY THE BOROUGH OF CARTERET, IN THE COUNTY OF MIDDLESEX,
NEW JERSEY, AND AUTHORIZING THE ISSUANCE OF $2,000,000
BONDS OR NOTES OF THE BOROUGH TO FINANCE PART OF THE
COST THEREOF.
Purpose: To amend Section 3 of Ordinance #15 -01 of the Borough
of Carteret, in the County of Middlesex, New Jersey, finally adopted
February 26, 2015, to read as follows and provide an additional
$2,000,000:
"The improvement hereby authorized and the purpose for the fi-
nancing of which the bonds are to be issued is for the construction
of storm sewer collection infrastructure upgrades, construction of
an equalization basin, a stormwater pump station, a force main, a
discharge outfall to Noes Creek with a tide gate, and collection sys-
tem upgrades along Noe Street, Harris Street, Pershing Avenue,
Emerson Street, Lowell Street, Industrial Highway, LeiCk Avenue,
Thornall Street, Whittier Street and Wheeler Avenue and the con-
struction of a generator building including the replacement of
storm water pipes, and the acquisition and installation of all equip-
ment and materials and all work necessary therefore or Incidental
thereto."
Appropriation: $2,000,000
Bonds/Notes Authorized: $2,000,000
Grant Appropriated: N/A
Section 20 Costs: $110,000
Useful Life: 40 years
Kathleen M. Barney, Clerk
This Notice is published pursuant to N.J.S.A. 40A:2 -17.
($49.28) �,.,n,. ,
Ad Number: 0002318201 Run Dates: 08/07/17
BOROUGH OF CARTERET OF
JAN Cq�T`
ORDINANCE #17 -13 , <
NOTICE OF PENDING ORDINANCE AND SUMMARY
co
The ordinance, the summary terms of which are included herein, AUG - u
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 July 20, 2017. It will be further con -`�F
sidered for final passage, after public hearing thereon, at a meeting , "s (l4
of the governing body to be held at the Municipal Building, in the
Borough on August 17, 2017 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 request the same. The summary of the terms of
such ordinance follows:
Title: ORDINANCE AMENDING SECTION 3 OF ORDINANCE #15 -01
AND PROVIDING A SUPPLEMENTALAPPROPRIATIONOF $2,000,000
FOR VARIOUS WATER AND STORMWATER IMPROVEMENTSIN AND
BY THE BOROUGH OF CARTERET,IN THE COUNTY OF MIDDLESEX
NEW JERSEY,AND AUTHORIZING THE ISSUANCE OF $2,000,000
BONDS OR NOTES OF THE BOROUGH TO FINANCE PART OF THE
COST THEREOF.
Purpose: To amend Section 3 of Ordinance #15 -01 of the Borough
of Carteret, in the County of Middlesex, New Jersey, finally adopted
February 26, 2015, to read as follows and provide an additional
$2,000,000:
"The improvement hereby authorized and the purpose for the fi-
nancing of which the bonds are to be issued is for the construction
of storm sewer collection infrastructure upgrades, construction of
an equalization basin, a stormwater pump station, a force main, a
discharge outfall to Noes Creek with a tide gate, and collection sys-
tem upgrades along Noe Street, Harris Street, Pershing Avenue,
Emerson Street, Lowell Street, Industrial Highway, Leick Avenue,
Thornall Street, Whittier Street and Wheeler Avenue and the con-
struction of a generator building including the replacement of
storm water pipes, and the acquisition and installation of all equip-
ment and materials and all work necessary therefore or incidental
thereto."
Appropriation: $2,000,000
Bonds /Notes Authorized: $2,000,000
Grant Appropriated: N/A
Section 20 Costs: $110,000
Useful Life: 40 years
Kathleen M. Barney, Clerk
This Notice is published pursuant to N.J.S.A. 40A:2 -17.
($49.28)
0002318201 -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 23, 2017
Kathleen M. Barney, MMC
Municipal Clerk
BOROUGH OF CARTERET
0--ain4piLk A 9
i
N ary Public ew arsey
CARMELA POGORZELSKI
NOTARY PUBLIC OF NEW JERSEY
My Commissi>rn Expires 912 "47
Sworn and subscribed before
me this � day of uq
ORDINANCE #17 -13
ORDINANCE STATEMENT AND SUMMARY
The ordinance, the summary terms of which are included herein,
as
h been finally adopted by the Borough of Carteret, in the County
of Middlesex, State of New Jersey on August 17, 2017 and the 20
day period 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, t th
Clerk's office for members of the general public who reques the e
same. The summary of the terms of such ordinance follows:
Title: ORDINANCE AMENDING SECTION 3 OF ORDINANCE #15 -01
AND PROVIDING A SUPPLEMENTAL APPROPRIATION OF $2,000,000
FOR VARIOUS WATER AND STORMWATER IMPROVEMENTS IN AND
BY
NEW THE BOROUGH OF CARTERET, IN THE COUNTY OF MIDDLESEX,
JERSEY,
BO DSOR NOTES DOFU A
UGH TO FINANCE PART O F�THE
COST THEREOF.
Purpose: To amend Section 3 of Ordinance #15 -01 of the Borough
of Carteret, in the County of Middlesex, New Jersey, finally adopted
February 26, 2015, to read as follows and provide an additional
$2,000,000:
"The improvement hereby authorized and the purpose for the fi-
nancing of which the bonds are to be issued is for the construction
of storm sewer collection infrastructure upgrades, construction of
an equalization basin, a stormwater pump station, a force main, a
discharge outfall to Noes Creek with a tide gate, and collection sys-
tem upgrades along Noe Street, Harris Street, Pershing Avenue,
Emerson Street, Lowell Street, Industrial Highway, Leick Avenue,
Thornall Street, Whittier Street and Wheeler Avenue and the con-
struction of a generator building including the replacement of
storm water pipes, and the acquisition and installation of all equip-
ment and materials and all work necessary therefore or incidental
thereto."
Appropriation: $2,000,000
Bonds/Notes Authorized: $2,000,000
Grant Appropriated: N/A
Section 20 Costs: $110,000
Useful Life: 40 years
($47.52) Kathleen M. Barney, Clerk
AFFIDAVIT OF PUBLICATION
Publisher's Fee $47.52 Affidavit $35.00
State of New Jersey }SS.
Middlesex County
Personally appeared �r&
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:
08/23/17 A.D 2017
Notary Public of New Jersey
Ad Number: 0002354360 %" M 1 ELAAt/
GOMM1SS i
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Ad Number: 0002354360 Run Dates: 08/23/17
BOROUGH OF CARTERET
ORDINANCE #17 -13
ORDINANCE STATEMENT AND SUMMARY
The ordinance, the summary terms of which are included herein,
has been finally adopted by the Borough of Carteret, in the County
of Middlesex, State of New Jersey on August 17, 2017 and the 20
day period 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 general public who request the
same. The summary of the terms of such ordinance follows:
Title: ORDINANCE AMENDING SECTION 3 OF ORDINANCE #15 -01
AND PROVIDING A SUPPLEMENTALAPPROPRIATIONOF $2,000,000
FOR VARIOUS WATER AND STORMWATER IMPROVEMENTSIN AND
BY THE BOROUGH OF CARTERET,IN THE COUNTY OF MIDDLESEX
NEW JERSEY,AND AUTHORIZING THE ISSUANCE OF $2,000,000
BONDS OR NOTES OF THE BOROUGH TO FINANCE PART OF THE
COST THEREOF.
Purpose: To amend Section 3 of Ordinance #15 -01 of the Borough
of Carteret, in the County of Middlesex, New Jersey, finally adopted
February 26, 2015, to read as follows and provide an additional
$2,000,000:
"The improvement hereby authorized and the purpose for the fi-
nancing of which the bonds are to be issued is for the construction
of storm sewer collection infrastructure upgrades, construction of
an equalization basin, a stormwater pump station, a force main, a
discharge outfall to Noes Creek with a tide gate, and collection sys-
tem upgrades along Noe Street, Harris Street, Pershing Avenue,
Emerson Street, Lowell Street, Industrial Highway, Leick Avenue,
Thornall Street, Whittier Street and Wheeler Avenue and the con-
struction of a generator building including the replacement of
storm water pipes, and the acquisition and installation of all equip-
ment and materials and all work necessary therefore or incidental
thereto."
Appropriation: $2,000,000
Bonds /Notes Authorized: $2,000,000
Grant Appropriated: N/A
Section 20 Costs: $110,000
Useful Life: 40 years
($47.52) Kathleen M. Barney, Clerk
002354360 -01