HomeMy Public PortalAboutResolution 01:070No. 01-70 Date of ^d,plionMarc. h~4 2001
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
YHEREAS, 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
tpproval of a proposed refunding bond ordinance authorizing the issuance of not to
:xceed $7,845,000 refunding bonds to refund all or part of the Borough's outstanding
:allable General Obligation Sewer Refunding Bonds, dated March 15, 1993.
WHEREAS, tile Borough believes that:
ia) It is itl the public interest to accomplish such purpose;
b) Thc purpose ~s for the health, the welfare, tile convenience or the betterment of thc
inhabitants of the Borough;
lc) The amounts to be expended for these purposes are not unreasonable or exorbitant:
id) 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, TIIEREFORE, BE IT RESOLVED by the Borough Council of thc Borough of
Carteret, m thc County of Middlesex, New Jersey as follows:
Section I. The application to the Local Finance Board is hereby approved, and tile
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 prepure a'nd 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 conside~ such
application and to record its findings, recommendations and approvals as provided by the
applicable New Jersey Statutes.
Adopted this I~t day of March, 200l
and certified as a true copy of the
original on March 2, 2001.
KATHLEEN M. BARNEY, RMC/CMC
Municipal Clerk
COUNCILMAN
FAZEKAS
QUINONES
REIMAN
X - Indicate Vote
RECORD OF COUNCIL VOTE
x u os -x'
× SA XOUO x
AB - Absent NV - Not Voting XOR - Indicntes Vote Io Ovcr.,Ic
cp
Adopted at a meeting of the Municipal Council