HomeMy Public PortalAboutr 02:069No. _112-fiq
Date of Adoption, Februa~ ?, 2002
RESOLUTION AUTHORIZING PROFESSIONAL SERVICES CONTRACT
wrrH REALVEST CAPITOL CORPORATION
WHEREAS, the Borough of Carteret (the "Borough'~ is in need of the
professional services of a Financial Advisor and Bond Placement Agent with
regard to the Carteret Landfill Redevelopment Project and the negotiation of a
Redevelopment Agreement associated with said project; and
WHEREAS, the firm of Realvest Capitol Corporation CRealvest'~
possesses the requisite experience and expertise to provide said services; and
WHEREAS, Realvest has submitted a proposal for said services at a cost
not to exceed $10,000.00 billable, plus expenses; and
WHEREAS, all fees payable would be credited against the Financial
Advisory Fee and Placement Fee associated with the financing and issuance of
bonds for this project; and
WHEREAS, the Borough Attorney has reviewed said proposal with the
Governing Body; and
WHEREAS, the Borough and the potential Redeveloper for said project,
Slayton Development Corp., LLC, have entered into a Pre-Development
Agreement whereby Slayton is to provide an escrow to reimburse the Borough's
costs incurred in the Redevelopment Process;
WHEREAS, pursuant to the establishment of the pre-development escrow
account, the Chief Financial Officer has certified that funds are available for the
professional services provided for herein.
NOW, THEREFORE, BE TI' RESOLVED by the ,Mayor and Council of the
Borough of Cartemt, County of Middlesex, State of New Jersey as follows:
1. The proposal from Realvest Capitol Corporation to serve as
Financial Advisor and Bond Agent for the Carteret landfill
Redevelopment Project, a copy of which is attached hereto, in an
amount not to exceed $10,000.00, plus expenses, is hereby
approved.
2. This award is made as a professional services contract.
RECORD OF COUNCIL VOTE
COUNCILMAN YES NO ' NV A.B, COUNCILMAN YES NO NV A.B.
PAR I S I X SANTORO X
RIOS X SOSNOI~SKI X
e t NV - Not Voting XOR - Indicates Vote to Overrule Veto
Adopted at a meeting of the Municipal Council
~'~hr~mry..7.. 2002
CLERK ~/// ~-~ ~
OFFICE OF
LEEN M. BARNEY, RMC/CMC
MUNICIPAL CLERK
MIDDLESFX COUNTY
~ ~rs~
TEL (73~ 541-3800
FAX (733 641-892§
61 COOKE AVENUE
CARTERET, NEW JERSEY 07008
Date: FEBRUARY
FO: Patrick J. DeBlasio, Treasurer
Borough of Carteret
REQUEST FOR CERTIFICATION OF AVAILABLE FUNDS:
For: REAtVEST CAPITOL CORPORATION
Name of Account: RESOLUTION #02-69
AMOUNT TO BE ENCUMBERED:
TO EXCEED $10,000.00
HLEEN M. BARNEY, C7/
Municipal Clerk
CERTIFICATION OF AVAILABILITY OF FUNDS
I, Treasurer of the Borough of Carteret, do hereby certify that there are sufficient funds available in the current
budget to ~nable the Municipal Council to authorize the entering into a contract between the Borough of Carteret
and:
The funds available for this contract, are in the Budget, in the account of:
in the amount o[ /~ o ~% ~_
By this ce~ification, I have hereby encumbered the above named a~ount for the mourn of the contract.
PATP~K J. D~BLASIO, Treasurer
Date: ~/'~/~;~
KMB/