HomeMy Public PortalAboutr 03:171No.03-171 Date of Adoption June 5, 2003
RESOLUTION OF THE BOROUGH OF CARTERET, IN THE COUNTY OF
MIDDLESEX, NEW JERSEY MAKING APPLICATION TO THE LOCAL
FINANCE BOARD PURSUANT TO N.J.S.A.40A:2-51
WHEREAS, the Borough of Carteret, in the County of Middlesex, New Jersey (the
"Borough") desires to make application to the Local Finance Board for its review
and approval of a proposed refunding bond ordinance authorizing the issuance of not
to exceed $2,800,000 refunding bonds to refund all or a part of the Borough's
outstanding callable General Improvement Bonds, dated December 1, 1995;
WHEREAS, the Borough believes that:
(a) it is in the public interest to accomplish such purpose;
(b) the purpose is for the health, the welfare, the convenience or the
betterment of the inhabitants of the Borough;
(c) the amounts to be expended for the purpose 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 upon the Borough;
NOW THEREFORE, BE IT RESOLVED BY THE BOROUGH COUNCIL OF
THE BOROUGH OF CARTERET, IN THE COUNTY OF MIDDLESEX,
NEW JERSEY AS FOLLOWS:
Section 1. The application 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 to file a copy
of the proposed refunding bond 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 approvals as
provided by the applicable New Jersey Statute.
Adopted this 5th day of June, 2003 and certified
as a tree copy of the original on June 6, 2003.
Kathleen M. Barney, RMC/CMC
Municipal Clerk
RECORD OF COUNCIL VOTE TL
COUNCILMAN YES NO NV A.B. COUNCILMAN YES NO NV A.B.
KRUM X RIOS X
NAPLES X S ITARZ X
PARISI X SOSNOWSKI X
X - Indicate Vote AB * Absent NV - Not Voting XOR - Indicates Vote to Overrule Veto
Adopted at a meeting of the Municipal Council