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Home My Public Portal Aboutordinance 03:01No. 0~-01 , Councilman Presents the following Ordinance Seconded by Councilman BOND ORDINANCE PROVIDING FOR VARIOUS PARK IMPROVEMENTS IN AND BY THE BOROUGH OF CARTERET, IN THE COUNTY OF MIDDLESEX, NEW JERSEY, APPROPRIATING $793,000 THE.REFOR AND AUTHORIZING THE ISSUANCE OF $755,000 BONDS OR NOTES OF THE BOROUGH TO FINANCE PART OF THE COST THEREOF. BE IT ORDAINED BY THE BOROUGH COUi~CIL 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. The improvement described in Section 9 of this bond ordinance is hereby authorized to be undertaken by the Borough of Carteret, New Jersey as a general improvement. For the improvement or purpose described in Section 3, there is hereby appropriated the sum of $793,000, including the sum of $38,000 as the down payment required by the Local Bond Law. The down payment is now available by virtue of provision for down payment or for capital improvement purposes from the Borough's Open Space Trust Fund. Section 2. In order to finance the cost of the improvement or purpose not covered by application of the NO. 03-01 PAGE 2 down payment, negotiable bonds are hereby authorized to be issued in the principal amount of $755,000 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 3. (a) The improvement hereby authorized and the purpose for the financing of which the bonds are to be issued are various park improvements and the acquisition of land for parks and open space (including associated parking lots), all as described on a report on file with the Borough Clerk, including all work and materials necessary therefor and incidental thereto. (b) The estimated maximum amount of bonds or 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 note shall mature later than one year from its date. The 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 notes issued pursuant to this ordinance, and the chief financial officer's signature upon the notes shall be conclusive evidence as to all such determinations. All notes issued hereunder NO. 03-01 PAGE 3 may be renewed from time to time subject to the provisions of N.J.S.A. 40A:2-8(a). The chief financial officer is hereby authorized to sell part or all of the 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 notes pursuant to this ordinance is made. Such report must include the amount, the description, the interest rate and the maturity schedule of the notes sold, the price obtained and the name of the purchaser. Section 5. The capital budget of the Borough of Carteret is hereby amended to conform with the provisions of this ordinance to the extent of any inconsistency herewith. The resolution in the form promulgated by the bocal Finance Board showing full detail of the amended capital budget and capital program as approved by the Director of the Division of Local Government Services is on file with the Clerk and is available there for public inspection. Section 6. The following additional matters are hereby determined, declared, recited and stated: (a) The improvement or purpose described in Section 3 of this bond 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 NO. 03-01 PAGE. property specially benefited 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 15 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 bond ordinance by $755,000, and the obligations authorized herein will be within all debt limitations prescribed by that Law. (d) An aggregate amount not exceeding $158,600' 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. Any grant moneys received for the purpose described in Section 3 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. The Borough anticipates paying the debt service on the Bonds with funds received from the Open Spac~ tax. NO. 03-~0!__ PAGE 5 Section 8. 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 9. 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 bond 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. NO. 03-01 PAGE Section 10, This bond 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 BEI.OW Tills I.INE RECORD OF COUNCIl. VOTE COUNCILMAN YES NO NV 'A~B. COUNCIl,MAN 'YES NO NV A.B. KRUM X RIOS X .~ X __ SOSNOI4SKI X PARISI X SITARZ X X - llldical¢ Vole AB - Abs¢lll NV - Nol Volin~ XOR - IltdicalC.~ Vol(: Io Overrule Adoplcd on first rcadinR, of Ihc Cotmci] oJ'lhc Borough of Carlcrct, N.J., ~)11 _-IANIJARY 16. 2003 Adoplcd on,~ccond rcadingaflcrllcurin§on FEBRUARY 6, 2003 ON .... _~_o..r_o._¥1Lh. ...................... of ..... ~.a__r_[e__r.~: ...................................................... County of ...._l~'_.'_.d_~.l_.e_~ex. ................. As of ...... e_ ....................................................................................... 1. The net debt of the local unit after giving effect to obligations about to be author- ized, is (page 2, line 4) $..__..2..2..:..9..7..8..,_8._0_0. ..... 2. Equalized valuation basis (the average of the equalized valuations of real estate, including improvements, and the assessed valuation of class II railroad property'of the local unit for the last 3 preceding yea'rs) as stated in the Annual Debt State- ment or the revision thereof last filed (1) ]~_2__00.0Equalized Valuation Real Property with Improvements plus assessed (2) l~J~0.-1Equalized Valuation Real Property with Improvements plus assessed (3) ~t$2__0._0.2 Equalized Valuation Real Property with Improvements plus assessed 3. Equalized Valuation Basis -- Average of (1), (2) and (3) $.!..:.1.2..3..!..9..6..5..,..2..7.2._. 4. Net debt (Line 1 above) expressed as a percentage of such equalized valuation basis (Line 3 above) is: STATE OF NEW JERSEY COUNTY OF .l~ddl.ea_e~_. ......... ._ P_atr%c]~ .J,_.!)~...]~:~q~o~ .......... , being duly sworn, deposes and says: Deponent is the chief financial officer of the ........... ~9~-o_ug.h. .................................................................... of here and in the statement hereinafter mentioned called "the local unit." The Supplemental Debt State- ment annexed hereto and hereby made a part hereof is a true statement of the debt condition of the local unit as of the date therein stated and is computed as provided by the Local Bond Law of New Jersey. Subscribed and sworn to before me ......... ~~...~7 .................................... 20 Cooke Avenue NOTARY PUEJLIC OF NEW JI~RSEY My Comrn~sion Exp. Nov. 3, 2004 (NOTE--In ail cases two copies of Supplemental Debt Statement must be filed with:) DIVISION OF LOCAL GOVERNMENT SERVICES CN 803 TRENTON, NEW JERSEY 08625-0258 1, The net debt of the local unit, as stated in the Annual Debt Statement made as of December 31, 19 ........ or the revision thereof last filed, with respect to the following classes of bonds and notes, the amount by which each class has been increased by the authorization of additional debt, and the amount by which each class has been decreased by payment of outstanding debt or reduction of the authorization to incur debt, is as follows: Bonds and notes for school pu~oses $ ........ .~91 ............. $ ........................... $ ........................... $ ........................ Bonds and notes for se]f- ]iquidatinz pu~oses $ ......... ............ $ ............................ $ ............................ $ ...................... Other bonds and notes $_.~.%,.!~9~.... $ ........................... $ ........................... $..~.?.L~3~ .... 2. Net debt at the time of this s~tement is: $..~.~3.~I.~.~ ...... 3. The amounts and purposes separably itemized of the obligations a~ut to be authorized, and any deductions which may ~ made on account of each such item are: (aaa ~te "~' Purgoee Amouat Ded~cMd'., ~ Nei ............................................ $ ...................... $ ........................ $ ............. $__.-.9.t 4. The net debt of the local unit determined by the addition of the net amounts stated in items 2 and 3 above is: $....2..2.~..9..7..8.~..8..0.~. .... NOTES A. If authorization of bonds or notes is permitted by an exception to the debt limitation, specify the particular paragraph of N.J.-q. 40A:2-7 or other section or law providing such exception. B. This form is also to be used in the bonding of separate (not Type D school districts as required by N.J.S. 18A:24-16, and filed before the school district election. In such case pages 4, 5, and 6 ~hould be completed to set forth computation supporting any deduction in line 3 above. C. Only the acount of bonds or notes about to be authorized should be entered. The amount of the "down payment" pro- vided in the bond ordinance should not be included nor ehown as a deduction. SPECIAL DEBT STATEMENT BORROWING POWER AVAILABLE UNDER N.J.S. 40A:2-?(f) 1. Amount of accumulated debt incurring capacity under R. S. 40:1-16(d) as shown on the I~test Annual Debt Statement. $ ............................... 2. Obligations heretofore authorized in excess of debt limitation and pursuant to: (a) N.J.S. 40A:2-7, paragraph (d) $ ............................... (b) N.J.S. 40A:2-7, paragraph (f) $ .............................. (c) N.J.S. 40A:2-7, paragraph (g) $ ............................... Total $ ............................. 3. Available debt incurring capacity (N.J.S. 40A:2-7(f)) $ ................................ 4. Obligations about to be authorized pursuant toN.J.S.40A :2-7(f) $ ........................... (If item 3 equals or exceeds item 4, obligations may be author- ized) BORROWING POWER AVAILABLE UNDER N.J.S. 40A:2-7(g) 1. Total appropriations made in local unit budget for curren.t fiscal year for payment of obligations of local unit included in Annual Debt Statement or revision thereof last fi]ed as of pre- ceding December 31 $ .......................... 2. Less the amount of such obligations which constitute utility and assessment obligations: $ ........................... 3. Excess of item 1 over item 2: $ 4. Amount raised in the tax levy of the current fiscal year by the local unit for the payment of bonds or notes of any school district $ ............................. 5. Amount equal to 2/3 of the sum of item 3 and item 4 6. (a) Amount of obligations heretofore authorized under N.J.S.40A:2-7(g) in current fiscal year $ ........................ (b) Amount of authorizations included in 6(a) which were heretofore repealed $ ............................... (c) Excess of item 6(a) over item 6(b) $ ........................... 7. Excess of item 5 over item 6(c) $ ............................... 8. Obligations about to be authorized $ ...................... 9. Borrowing capacity still remaining after proposed authorization (item 7 ]ess item 8) $ ............................... (If item 7 equals or exceeds item 8, obligations may be authorized) ~ot ~pplicable Hot Applicable COMPUTATION OF SCHOOL INDEBTEDNESS AND DEDUCTIONS 5 UNDER PROVISIONS OF N. J. S. 18A: 24-17 *Note: In a "Consolidated" School District, lines 18 to 24 must first be filled in. N. J. S. 1SA: 24-19 (Lines I to 7) 1. Average of equalized valuations (page 1, line 3) $ ............................... *2. Gross School District Debt outstanding and authorized and unissued (not includ- ing proposed issue) $ ................................ 3. Less: Sinking funds held for payment of School Debt, by Sinking Fund Commission $ ................................ 4. Net debt for school purposes (line 2, minus line 3) $ ................................ 5. Debt deduction for school purposes: ................ ~o (as per line be]ow) $ ................................ (a) 21/2% Kindergarten or Grade 1 through Grade 6 $ ................................ (b) 3 % Kindergarten or Grade 1-through Grade 8 $ ................................ (c) 3!/~% Kindergarten or Grade 1 through Grade 9 $ ................................ (d) 4 % Kindergarten or Grade I through Grade 12 $ ................................ (e) Other (insert applicable description) (f) Additional State School Building Aid Bonds N.J.S. 1SA: 58~33.4 (d)) (if included in line 2) $ ............................. 6. Available debt deduction (excess, if any, of line 5 over line 4 -- enter on page 2, line 3 as "Deduction," not exceeding, however, the "Amount" shown in that line.) $ ................................ *7. School Bonds about to be authorized $ ................................ Note: Omit lines 8 to 13, if line 6 equals or exceeds line 7, orifahown on line 17 N. J. S. 1SA: 24-22 (Lines 8 to 13) 8. Excess of line 7 over line 6 $ ................................ 9. Municipal Debt Limit (3~/~ of line 1 above) $ ................................ 10. Net Debt (page 2, line 2) $ ................................ 11. Available Municipal Borrowing Margin (excess, if any, of line 9 over line 10) $ ............................... 12. Use of Municipal Borrowing Margin (line 8 not exceeding line 11) $ ................................ 13. Remaining Municipal Borrowing Margin after authorization of proposed School Bonds (line 11 minus line 12) $ ................................ Note: Omit lines 14 to 16, if line 11 equals or exceeds line 8, or if shown on line 17 N. J. S. 1SA: 24-24 (lines 14 to 16) 14. Amount of line 7 $ ................................ 15. Amount of Deduction: (a) Amount of line 6 $ ............................. (b) Amount of line 11 $ ............................. Total $ ............................. 16. Excess of line 14 over line 15 $ ................ N. J. S. 18A: $8-3J.4(d)(line 17) 17. Additional State School Building Aid Bonds about to bc authorized (amount of line 7) $ ............................ 18. Total of average equalized valuation basis of each municipality in whole School District MUNICIPALITY AMOUNT .......................................... $ ...............$ .......................... 19. Gross School District Debt outstanding and authorized and unissued (not includ- ing proposed issue) $ .............................. Not Applicable 6 20. Less: School District Debt apportioned to other municipalities, N.J.S. 40A:2-43 Total of average equalized valuation basis of each municipality in whole School District $ ......................... (line 18, minus line 1) $ ........................................... equals $ ..................... times line 19 Divided by total of average equalized valuation basis of each municipality in whole School District $ ...................................... (line 18) $ ................................ 21. Gross School District Debt of this municipality only (line 19 minus line 20) $ ................................ 22. School Bonds about to be authorized $ ................................ 23. Less: Share of Bonds (line 22) apportioned to other municipalities, N.J.S. 40A:2-43 Total of average equalized valuation basis of each municipality' in whole School District $ ..................................... (line 18, minus line 1) $ ........................................ equals $ .................................. , times line 22 divided by total of average equalized valuation basis of each municipality in whole School District $ ....................................... (line 18) $ ............................... 24. This local unit's share of Bonds about to be authorized (line 22 minus line 23) $ ............................... *Note: In a "Consolidated" School District the amount shown on line 21 must be entered on line 2 and the amount shown on line 24 must be entered on line 7. COMPUTATION AS TO INDEBTEDNESS FOR IMPROVEMENT OR EXTENSION OF AN EXISTING MUNICIPAL PUBLIC UTILITY, N.J.S. 40A:2-'/Ih); N.J.S. 40A:2-471a) Municipal Public Utility ............................................................................................................................................. 1. Annual Debt Statement, December 31, 19 ....... , excess in revenues of utility $ .......................... 2. Less: Interest and debt redemption charges computed as provided in N.J.S. 40A:2-47(a) for all obligations heretofore authorized but not issued to the extent not already charged to income in annual debt statement. $ ........................... 3. Excess in revenues remaining prior to authorization of proposed obligations (tine 1 minus line 2) $ .............................. 4. Interest and debt redemption charges calculated for the obligations about to be authorized (N.J.S. 40A :2-47 (a)) (a) Interest for one year at 41/2% $ .............................. (b) First installment of serial bonds legally issuable $ ............................... (c) Total charges (Items (a) and (b)) $ .............................. Note: If line 3 equals or exceeds line 4, obligations may be authorized under the provisions of N.J.S. 40A:2-7(h) as limited by N.J.S. 40A:2-47(a). I, ., Director of the Division of Local Government Services in the Department Of Community Affairs of the State of New Jersey DO HEREBY CERTIFY that I have compared this copy of a Supplemental Debt Statement of thc above local unit with the original Supplemental Debt Statement 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 on , and that this is a true copy of said Statement and the whole thereof. IN WITNESS WHEREOF, I have hereunto set my hand as Director of the Division of Local Government Services in the Department of Community Affairs of the State of New Jersey, this day of , 19 Director SUPPLEMENTAL DEBT STATEMENT OF-- .... .-g--°--r-°--u-8-h- ...................... of ..... .C-.-a..r..t..e..r_.9.t.. ......................................................... County of ...l~..d..d..1..e..s....e~.. ................. As oS ...... 6. ..................................................................................... 3 1. The net debt of the local unit after giving effect to obligations about to be author- ized, is (page 2, line 4) $ 22,978,800 2, Equalized valuation basis (the average of the equalized valuations of real estate, including improvements, and the assessed valuation of class II railroad property-of FE~ i0 ~003 the local unit for the last 3 preceding ye~/rs) as stated in the Annual Debt State- ment or the revision thereof last filed ~ORO CLEF:!' (1) l~-.2-.0-0-.0Equalized Valuation Real Property with Improvements plus assessed valuation of Class II R.R. property ~.~_0..1.~..2..7..8..~.~.8..0. .... (2) ~J~..2.?-.0.-1Equalized Valuation Real Property with Improvements plus assessed valuation of Class II R.R. property $.1..:.1..0...4.:..4..2..0..:.3...02. .... (3) ~2_.0_0..2. Equalized Valuation Real Property with Improvements plus assessed valuation of Class II R.R. property $.1.~..2..5..3.~..1-9.~.L0.-3-~ .... 3. Equalized Valuation Basis -- Average of (1), (2) and (3) $.~.:..1-.2..3-.:.-9--6-5-~.2-~2--- ~. Net debt (Line 1 above) expressed as a percentage of such equalized valuation basis (Line 3 above) is: ..~l~o..,~l..F_o.u..r_.._..O~_.~.-._~...up_._d__r__e_.t_..~_...._O..f...~.~ ............................................................ ~ ..... per cent (._._.2__:..0_~ ........... %) STATE OF NEW JERSEY SS. COUNTY OF .Y, idd~_~.~_~ ........... Deponent is the chief financial officer of the ............ ]~'O_.U.g.h_ ..................................................................... of here and in the statement hereinafter mentioned called "the local unit." The Supplemental Debt State- ment annexed hereto and hereby made a part hereof is a true statement of the debt condition of the local unit as of the date therein stated and is computed as provided by the Local Bond Law of New Jersey. Subscribed and sworn to before me ........ -~--.~ .......................................... 20 Cooke Avenue ~¥ Cotnml~s~on ~:xp. No¥. 3, 2004 (NOTE--In ali cases two copies of Supplemental Debt Statement must be filed with:) DIVISION OF LOCAL GOVERNMENT SERVICES CN 803 TRENTON, NEW JERSEY 08625-0258 1. The net debt of the local unit, as stated in the Annual Debt Statement made as of December 31, 19 ........ or the revision thereof last filed, with respect to the following classes of bonds and notes, the amount by which each class has been increased by the authorization of additional debt, and the amount by which each class has been decreased by payment of outstanding debt or reduction of tbe authorization to incur debt, is as follows A~nual Debt Deg.'save l~or~ase Stattmtnt (Sing~ D~eemb~r $1. ~s~ P~t) Nt~ D~b~ Bonds ~nd note~ lot ~ehool pu~os~ $ ....... .Z~Z. ........... $ ........................... $ ................. $ .................. Bonds and notes for self- liquidating purposes $ ......... Z~Z. ........... $ ........................... $ ...................... $ ................. Other bonds and notes $...~!,.~Z~9.... $ ......................... 2. Net debt at the time of this s~tement is: $ ...................... 22,978,800 3. The amounts and purpos~ separably itemized of the obligations a~ut ~ be authorized, and any deductions which may be made on account of each such item are: Pu~os~ Amou~ D~d~ ,V..a_r..i..o_ .u..s. _p__a.r~ k_.~.m_~r, o_v_. _eLae__n_t_s ... $!~A, .o..o_o ...... $.Zs. ,s.._0.o_o. ...... $ -0- ......................................... $ .................. $ ................ .................................. $ ..................... $ ...................... $ $. -o- 4. The net debt of .the local unit determined by the addition of the net amounts stated in items 2 and 8 above is: $--2-2-~-?.!8-~-8-9.0---- NOTES A. If authorization of bonds or notos is permitted by an exception to the debt limitation, specify the particular paragraph of N.J.S. 40A:2-7 or other section or law providing such exception. B. This form is also to be used in the bonding of separate (not Type I) school districts as required by N.J.S. 18A:24-16, and filed before the school district election. In such case pages 4, 5, and 6 should be completed to set forth computation supporting any deduction in line $ above. C. Only the aeount of bonds or notes about to be authorized should be entered. The amount of the "down payment" pro- vided in the bond ordinance should not be included nor shown as a deduction. SPECIAL DEBT STATEMENT BORROWING POWER AVAILABLE UNDER N.J.S. 40A:2-7(f) 1. Amount of accumulated debt incurring capacity under R. S. 40:1-16(d) as shown on the I~test Annual Debt Statement. $ ................................ 2. Obligations heretofore authorized in excess of debt limitation and pursuant to: (a) N.J.S. 40A:2-7, paragraph (d) $ ............................... (b) N.J.S. 40A:2-7, paragraph (f) $ ................................ (c) N.J.S. 40A:2-7, paragraph (g) $ ............................... Total $ ................................ 3. Available debt incurring capacity (N.J.S. 40A:2-7(f)) $ ................................ 4. Obligations about to be authorized pursuant to N.J.S.40A :2-7 (f) $ .............................. (If item 3 equals or exceeds item 4, obligations may be author- ized) BORROWING POWER AVAILABLE UNDER N.J.S. 40A:2-7(g) 1. Total appropriations made in local unit budget for current fiscal year for payment of obligations of local unit included in Annual Debt Statement or revision thereof last filed as of pre- ceding December 31 $ .............................. 2. Less the amount of such obligations which constitute utility and assessment obligations: $ ............................ 3. Excess of item I over item 2: $ ............................... 4. Amount raised in the tax levy of the current fiscal year by the local unit for the payment of bonds or notes of any school district $ ............................... 5. Amount equal to 2/3 of the sum of item 3 and item 4 $ ............................ 6. (a) Amount of obligations heretofore authorized under N.J.S.40A :2-7 (g) in current fiscal year $ ............................... (b) Amount of authorizations included in 6(a) which were heretofore repealed $ ............................... (c) Excess of item 6(a) over item 6(b) $ ................................ 7. Excess of item 5 over item 6(c) $ ................................ 8. Obligations about to be authorized $ ............................. 9. Borrowing capacity still remaining after proposed authorization (item 7 less item 8) $ ................................. (If item 7 equals or exceeds item 8, obligations may be authorized) Not Applicable Ho~ ~pplicable COMPUTATION OF SCHOOL INDEBTEDNESS AND DEDUCTIONS 5 UNDER PROVISIONS OF N. J. S. 18A: 24-17 *Note: In a "Consolidated" School District, lines 18 to 24 must first be filled in. N. J. S. 1SA: 24-19 (Lines I to 7) 1. Average of equalized valuations (page 1, line 3) $ ................................ *2. Gross School District Debt outstanding and authorized and unissued (not includ- ing proposed issue) $ ................................ 3. Less: Sinking funds held for payment of School Debt, by Sinking Fund Commission $ ................................ 4. Net debt for school purposes (line 2, minus line 3) $ ................................ 5. Debt deduction for school purposes: ................ % (as per line below) $ ............................... (a) 21/z% Kindergarten or Grade I through Grade 6 $ ................................ (b) 3 % Kindergarten or Grade 1-through Grade 8 $ ................................ (e) 3~/~% Kindergarten or Grade I through Grade 9 $ ............................... (d) 4 % Kindergarten or Grade I through Grade 12 $ ................................ (e) Other (insert applicable description) (f) Additional State School Building Aid Bonds N.J.S. 1SA: 58-33.4 (d)) (if included in line 2) $ ................................ 6. Available debt deduction (excess, if any, of line 5 over line 4 -- enter on page 2, line 3 as "Deduction," not exceeding, however, the "Amount" shown in that line.) $ ................................ *7. School Bonds about to be authorized $ ................................ Note: Omit lines 8 to 13, if line 6 equals or exceeds line 7, orifshown on line 17 N. J. S. 1SA: 24-22 (Lines 8 to 13) 8. Excess of line 7 over line 6 $ ................................ 9. Municipal Debt Limit (3~/-.,?~ of line I above) $ ................................ 10. Net Debt (page 2, line 2) $ ................................ 11. AvaiIable Municipal Borrowing Margin (excess, if any, of line 9 over line 10) $ ................................ 12. U~e of Municipal Borrowing Margin (llne 8 not exceeding line 11) $ ................................ 13. Remaining Municipal Borrowing Margin after authorization of proposed School Bonds (line 11 minus line 12) $ ................................ Note: Omit lines 14 to 16, if line 11 equals or exceeds line 8, or if shown on line 17 N. I. S. 1SA: 24-24 (lines 14 to 16) 14. Amount of line 7 $ ................................ 15. Amount of Deduction: (a) Amount of line 6 $ ................................ (b) Amount of line 11 $ ................................ Total $ ................................ 16. Excess of line 14 over line 15 $ ......................... N. J. S. 1SA: $8-33.4(d) (line 17) 17.. Additional State School Building Aid Bonds about to be authorized (amount of line 7) $ ............................... 18. Total of average equalized valuation basis of each municipality in whole School District MUNICIPALITY AMOUNT 19. Gross School District Debt outstanding and authorized and unissued (not includ- ing proposed issue) $ ................................ Not: Applicable 6 20. Less: School District Debt apportioned to other municipalities, N.J.S. 40A:2-43 Total of average equalized valuation basis of each municipality in whole School District $ .................................. (line 18, minus llne 1) $ ........................................... equals $ ..................................... times line 19 Divided by total of average equalized valuation basis of each municipality in whole School District $ ........................................ (line 18) $ ................................ 21. Gross School District Debt of this municipality only (line 19 minus line 20) $ ................................ 22. School Bonds about to be authorized $ ................................ 23. Less: Share of Bonds (line 22) apportioned to other municipalities, N.J.S. 40A:2-43 Total of average equalized valuation basis of each municipality' in whole School District $ ........................................ (line 18, minus line 1) $ ........................................... equals $ ........................................ , times line 22 divided by total of average equalized valuation basis of each municipality in whole School District $ .......................................... (line 18) $ ............................... 24. This local unit's share of Bonds about to be authorized (line 22 minus line 23) $ ............................... *Note: In a "Consolidated" School District the amount shown on line 21 must be entered on line 2 and the amount shown on line 24 must be entered on line 7. COMPUTATION AS TO INDEBTEDNESS FOR IMPROVEMENT OR EXTENSION OF AN EXISTING MUNICIPAL PUBLIC UTILITY, N.J.S. 40A:2-'/(h); N.J.S. 40A:2-q.?(a) Municipal Public Utility ................................................................................................................................................. 1. Annual Debt Statement, December 31, 19 ........ , excess in revenues of utility $ ............................ 2. Less: Interest and debt redemption charges computed as provided in N.J.S. 40A:2-47(a) for all obligations heretofore authorized but not issued .to the extent not already charged to income in annual debt statement. $ ............................. 3. Excess in revenues remaining prior to authorization of proposed obligations (line I minus line 2) $ ................................ 4. Interest and debt redemption charges calculated for the obligations about to be authorized (N.J.S. 40A :2-47 (a)) (a) Interest for one year at 41/2% $ ................................ (b) First installment of serial bonds legally issuable $ ................................ (c) Total charges (Items (a) and (b)) $ ................................ Note: If line 3 equals or exceeds line 4, obligations may be authorized under the provisions of N.J.S. 40A:2-7(h) as limited by N.J.S. 40A :2-47 (a). I, ,O~av~ , 9 / /( · ( x ~)a ]L~-t' A-~ Director of the Division of Local Government Services in the Department of Community Affairs of the State of New Jersey DO HEREBY CERTIFY that I have compared this copy of a Supplemental Debt Statement of the above local unit with the original Supplemental Debt Statement 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 on l ~/~ ~ -O -~ , and that this is a true copy of said Statement and the whole thereof. IN WITNESS WHEREOF, I have hereunto set my hand as Director of the Division of Local Gov~-nment~ Services in the~Del~rtment 9f Community A.ff.a. irs of the State of New Jersey, this day of .l"--~_~Ucc-e~'~ , gg ~/~:)~ . ~'Or ~clmowtedgement of recei~! of Annna! Debt S~'~-,ment), ' r~udget Amendment. ~irector ~._ ~ Affidavit of Publication Publisher's Fee $154.00 Affidavit Charge $17.00 State of New Jersey } ss. MIDDLESEX COUNTY ~'~:~ ~,.~: Personally appeared LINDA DiAZ ' of the ~-torr~e lqe~vs Tribune, a newspaper printed In Freehold, NJ and published In NEPTUNE, In said County and State, and of general circulation In said county, who being duly sworn, deposeth and salth that the advertisement ot which the annexed Is a true copy, has been published In the said newspaper 1 (ONE) times, once In each Issue, as follows PATRIRIA w Tnw~$EN_n NOTARY PUBLIC OF NEW,IFR.~FY A,D,, 205 _~' MY COMMISSIO~ EXo!RE,g r)CT. 2, 2005 ~/~/~ ..j~ Sworn and subscl~ed before me this .~~ __ 14th day of Pebruary, A.D., 2003 Notary Public of New Jersey their dates to the date of delivery thereof, The chief BOROUGH OF CARTERU nanca ofcer s directed to report in writin to the gove ning body at the meeting next succeeding the date when any sale or deliver of the notes ORDINANCE #03-01 pursuant to this ordinance is ma~Ye. Such report ~IOND ORDINANCE PROVIDING FOR VARI- OUS PARK IMPROVEMENTS IN AND BY THE must include the amount, the description, the inter- BOROUGH OF CARTERET IN THE COUNTY est ra e and the maturity schedule of the notes OF MIDDLESEX NEW JERSEY, APPROPRIAT- sold. the price obtained and the name o the lNG $793,000 T~IEREFOR AND AUTHORIZING purchaser. Secton 5 The capital bud et of the Boroo h of THE ISSUANCE OF $755 000 BONOS OR Carteret s he eby amende~ to conform wit~ the NOTES OF THE BOROUGH ~O FINANCE PART provis ohs o this ocdinance to the extent of any OF THE COST THEREOF. inconslstenc herewith. The resolutioo in the form Affidavit of Publication Publisher's Fee $155.76 Affidavit Charge $17.00 State of New Jersey } ss. , ,, ~ .... MIDDLESEX COUNTY '~-, 2003 Personally appeared PAT HENEGHAN ~ ', ,' ~-~,,~ of the Home l~ews Tribune, a newspaper printed In Freehold, NJ and published In NEPTUNE, In said County and State, and of general circulation In said county, who being duly sworn, deposeth and salth that the advertisement of which the annexed Is a true copy, has been published In the said newspaper 1 (ONE) times, once In each Issue, as follows 1/21/Q3, NOT?,P.Y P'J.°L!,~ OF ;:3;; J£,qS~'; A,D., 2103 MYCOMMIS~ES OCT. 2, 2005 sworn and subscrl~d ~fore me this ¢~~ Z~ . ;/~ ~/ 21s, day of January, A.D.,2~3 N~ta~ Publi~ 0f New Jersey ' / - / ~ ' ~ ~GH ~ C~ET , ..... offi~, i~ ~l~.~t.d to ~port i. ~ati. to the benefit of holders and beneficial owners of are hereby pledged to the punctual payment of the valorem taxes upon all the taxable real properbJ w h n the Borough for the payment of the oblige- Section 10. This bond ordinance shall take effect 20 adoption as provided by the Local Bond Law, in of the Council of the gorough of Carteret held J~IUARY 15, 2003 when it was adopted on First KATHLEEN M, BARNEY, Municipal Clerk t$~ss.7~l 2oss5