HomeMy Public PortalAboutr 02:226No. 02-226 Date of Adoption MAY 16, 2002
AUTHORIZING THE EXECUTION OF TffE~ URBAN AND
RURAL CENTERS UNSAFE BUILDING DEMOLITION LOAN
AGREEMENT
WffE~REAS, the Borough of Carterct has received a loan award in the
amount of $450,000.00 from the New Jersey Department of Community Affairs
for participation in the Demolition Bond Loan Program; and
WfrEREAS, the terms of the loan award of $450,000.00 are twenty (20)
years at zero (0) % interest; and
WHEREAS, the provision of this financial assistance is subject to the
execution of a loan agreement between The Borough of Carteret and the New
Jersey Depmment of Community Affairs setting forth the terms and conditions of
the loan award.
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council
of the Borough of Carteret, County of Middlesex, State of New Jersey as follows:
1. That the Mayor and Borough Clerk are hereby authorized to
execute the Urban and Rural Center's Unsafe Building Demolition
Loan A4~reement, bearing No: 02-0109-00.
2. That the appropriate Borough officials are hereby authorized to
take the necessary action to comply with and implement the terms
and conditions of the aforementioned Loan A4~Teement.
3. Three (3) signed and sealed copies of the Loan Agreement, with
a certified copy of this Resolution attached, shall be forwarded to
the New Jersey Department of Community Affairs.
Adopted this 16~ day of May, 2002
and certified a~"a true copy of
the original on May 17~, 2002.
KATHLEEN M. BARNEY~ RMC/CMC
MUNICIPAL CLERK
RECORD OF COUNCIL VOTE
COUNCILMAN YES NO NV A.B. COUNCILMAN YES NO NV A.B.
PARIS I X sANTORO X
REIMAN X SOHAYDA X
RIOS X SOSN~/SKI X
X - Indicate Vote AB - Absent NV - Not Voting XOR - Indicates Vote to Overrule Veto
Adopted at a meeting of the Municipal Council )HAY 16, 2002
CLERK