HomeMy Public PortalAboutr 02:073NO.
02-73 Date of Adoption. February. 7,
2002
"RESOLUTION OF THE BOROUGH OF CARTERET MAKING
APPLICATION TO THE LOCAL FINANCE BOARD PURSUANT TO
N.J.S.A. 40A:2-51"
WHEREAS, the Borough of Carteret desires to make application to the Local
Finance Board for its review and approval of the issuance of refunding bonds by
the Borough pursuant to a proposed refunding bond ordinance authorizing the
issuance of not to exceed $3,600,000.00 refunding bonds to refund certain
outstanding bonds of the Borough;
WHEREAS, the Borough believes that:
a) it is in the public interest to accomplish such purpose;
b) said purpose or improvements are for the health, welfare, convenience
or betterment of the inhabitants of the Borough;
c) the amounts to be expended for said purpose or improvements are not
unreasonable or exorbitant;
d) the proposal is an efficient and feasible means of providing services
for the needs of the inhabitants of the Borough and will not create an
undue financial burden to be placed upo~ the Borough;
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council of the
Borough of Carteret, in the County of Middlesex, New Jersey as follows:
Section 1. The applicants to the Local Finance Board is hereby approved, and
the Borough's Bond Counsel, along with other representatives of the Borough, are
hereby authorized to prepare such application and to represent the Borough in
matters pertaining thereto.
Section 2. The Clerk of the Borough is hereby directed to prepare and file a
copy of the proposed ordinance with the Local Finance Board as part of such
application.
Section 3. The Local Finance Board is hereby respectfully requested to
consider such application and to record its findings, recommendations and/or
approvals as provided by the applicable New Jersey Statute.
Adopted this 7th day of February 2002
and certified as true copy of the
original'on February 8, 2002.
KATHLEEN M. BARNEY, RMC/CMC
Municipal Clerk
COIJNC~MAN
P^RISI
REIMAN
RIOS
X
X
X
RECORD OF COUNCIL VOTE
X - Indicate Vote AB - Absent NV - Not Voting XOR - Indicates Vote to Overrule Veto
-~ F.ebl~uary_7, 21102
Adopted at a meeting of the Municipal Council