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Home My Public Portal Aboutordinance 03:22iouncilman Presents the following Ordinance Seconded by Councilman REFUNDING BOND ORDINANCE OF THE BOROUGH OF CARTERET, IN THE COUNTY OF MIDDLESEX, NEW JERSEY PROVIDING FOR THE REFUNDING OF CERTAIN GENERAL OBLIGATION REFUNDING BONDS APPROPRIATING $2,800,000 THEREFOR AND AUTHORIZING THE ISSUANCE OF $2,800,000 REFUNDING BONDS OF THE BOROUGH FOR FINANCING THE COST THEREOF. BE IT ORDAINED BY THE BOROUGH COUNCIL 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 Borough of Carteret, in the County of Middlesex, New Jersey is hereby authorized to refund all or a portion of $2,441,000 outstanding principal amount of General Obligation Refunding Bonds, Series 1995 (the "Prior Bonds"). Section 2. In order to finance the refunding of the Prior Bonds in an amount sufficient to meet the requirements of the Internal Revenue Code related to refunding and to pay all related redemption premiums and costs, $2,800,000 is hereby appropriated therefor and negotiable refunding bonds (the "Refunding Bonds") are hereby authorized to be issued in the aggregate principal amount not to exceed $2,800,000 pursuant to the Local Bond Law of the State of New Jersey. Section 3. The Borough desires to provide for the refunding of all or a portion of the Prior Bonds in order to provide for savings in debt service as a result of lower interest rates in the bond market. Section 4. An aggregate amount not exceeding $100,000 for items of expense listed in and permitted under N.J.S.A. 40A:2-51(b) has been included in the aggregate principal amount of Refunding Bonds authorized herein. Section 5. A certified copy of this refunding bond ordinance as adopted on first reading should be filed with the Director of the Division of Local Government Services in the Department of Community Affairs of the State of New Jersey prior to final adoption. 03-22 pABH_ 2 NO. Section 6. This bond ordinance shall take effect 20 days after the first publication thereof after final adoption, as provided by the Local Bond Law, provided that the consent of the Local Finance Board has been endorsed upon a certified copy of this ordinance as finally adopted. DO NOT USE SPACE I1EI.OW Tills LINE rECORD OF COUNCIl. VOTE tr KRUH RIOS NAPLES ii. sIIARZ - PARISI SOSItOI/SKI X - lndicalc Vole AB - Absent NV - Not Voting XOR - Indicates Vote ~o Overrule Veto Adopted on first reading of Ibc Council of Iht Borough of Carleret. N.J., on ~ 2~3 ~OGOST 16, 2003 ~domed on second rcadin~ft~hcaring on 03~-005 239582.1 / Affidavit of Publication Publisher's Fee $59.84 Affidavit Charge $20.00 State of New Jersey } ss. MIDDLESEX COUNTY Personally appeared LINDA DIAZ of the Home News T~bune, 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, dep0seth 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 PATRIOIA W. TOWNSEND NOTARY PUBLIC OF NEW JERSEY A.D,, 2003 MY COMMISSION EXPIHk5 UL;I. Z, ;'U0~ ~ ~ Sworn and subscrll~ed before me this r ~.,,/~.~ ~ '/~..Notary Public of New Jersey BOROUGH OF CARTERET ORDINANCE #03-22 REFUNDING BOND ORDINANCE OF THE BOR- OUGH OF CARTERET, IN THE COUNTY OF MID- DLESEX~ NEW JERSEY PROVIDING FOR THE RE- FUNDING OF CERTAIN GENERAL OBLIGATION REFUNDING BONDS APPROPRIATING $2 800,000 THEREFOR AND AUTHORIZING THE ISSUANCE OF $2 800,000 REFUNDING BONDS OF THE BOR- · OUCH FOR F NANC NG THE COST THEREOF. ~ BE IT ORDAINED BY THE BOROUGH COUNCIL OF THE BOROUGH OF CARTERET IN THE COUNTY OF MIDDLESE3(, NI~V JERSEY ~not less than two- thirds of all members thereof affirmatively concur- r rig) AS FOLLOWS: Section ]. The Borou§h of Carteret, in the County of M ddlesex New Jersey is hereb authorized to refund all or a portion o $2,441+~OO outstand ng rinclpal amount of General Obli~[ation Refunding [~onds, Series 1995 (the "Prior Bonds"). Section 2. In order to finance the refunding of the Prior Bonds in an amount sufficient to meet the requirements of the Internal Revenue Code related to refunding and to ay all related redemption pram urns and costs ~D;~ 800,0C0 is hereby appro prlated therefor and neBotiable refunding bonds (the "Refunding Bonds") are hereby authorized to be ssued in the a regate principal amount not to exceed $2,$OO.O0~gl~ursuant to the Local Bond Law o the State of New Jersey. Sect on 3. The Borough desires to provide for the refunding of aH or a portion of the Prior Bonds in o der to provide for savings in debt service as a result of lower interest rates in the bond market Sect on 4 An aug agate amount not exceeding $]00,O00 for items of ex ense listed in and permit- ted under N,J.SA. 40A:2-b~! b has been included in theauthor~ze~a,~j~r e ateherein.principal amount of Refunding Bonds Section S. A certified copy of this refunding bond ordinance as adopted on first reading should be filed with the Director of the Division of Local Government Services in the Department of Com- munity Affairs of the State of New Jersey prior to final ado tion. Section ~ This bond ordinance shall take effect 20 days after the first publication thereof after final adoption, as provided by the Local Bond Law, rovided that the consent of the Local Finance ~oard has been endorsed upon a certified copy of this ordinance as finally adopted. The o egong ordinance was introduced at a meet- in of the Council of the Sorough of Carteret held J~J~y 9 2003 when it was adopted on First Reading. The said ordinance w be fur her Considered on Second Reading for final adoption at a meeting of sa d Council of the Borough of Carteret on August 14 2003 at appro×imatel 7:Oo P.M., Munlclpal Court/Police Fac ty, 230 ~oosevelt Avenue, Car- teret, New Jerse at which time and place all ersons intereste~/will be given an opportunity to ~e heard KATHLEEN M. BARNEY Certified Municipal Clerk ~$59.84~ 37385 Affidavit of Publication Publisher's Fee $55.44 Affidavit Charge $20.00 State of New Jersey } ss. MIDDLESEX COUNTY Personally appeared LINDA DIAZ 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 8/20/03, PATRiCiA'¢v'. TG;7,';G£,*~D A.D.. 2903 NOTARY PUBLIC OF~j~W JERSEY ~ /~ MY COMMISSION EX'IRIS OCT. 2, 2005 sworn and subscrlb~ before me this N0:~ary Public of New Jersey [ v - / - BOROUGH OF CARTERET ORDINANCE #03-22 REFUNDING BOND ORDINANCE OF THE BOR- OUGH OF CARTERET IN THE COUN~ OF MID- ~. __ DLESEX, NEW JERSEY PROV D NG FOR THE REFUNDING BONDS APPROPRIATING $2 800,000 THEREFOR AND AUTHORIZING THE ISSUANCE OF $2 800 000 REFUNDING BONDS OF THE BOR- OUGH FO~ F NANC NG THE COST THEREOF. THE BOROUGH OF CARTERET IN THE COUNTY OF MIDDLESEX, NEW JERSEY ~not less than two- thirds of all members thereof affirmatively concur- ring) AS FOLLOWS: Section 1. The Borough of Carteret, in the County of Middlesex New Jersey is herebly authorized to refund all or a portion of $2,44!,000 outstand ng Bonds, Series 1995 (the "Prior Bonds"). Section 2. In order to finance the refundlnB of the Prior Bonds in an amount sufficient to meet the requirements of the Internal Revenue Code related to refunding and top; ay all related redemption premiums and costs, $2,g00,0CO is hereby appro- priated therefor and negotiable refunding bonds (the "Refunding Bonds") are hereby authorized to be issued in the ag~rregate principal amount not to exceed $2,8OO,OO(3-pursuant to the Local Bond Law of the State of New Jersey, Section 3. The Borough desires to provide for the refunding of ali or a portion of the Prior Bonds in order to provide for savings in debt service as a result of lower interest rates in the bond market. Section 4. An aggregate amount not exceeding $100,000 for items of ex~ense listed in and permit- ted under N.J B.A. 40A:2-Si(b) has been included in theauthorlze~ag~re ateherein.principal amount of Refunding Bonds Section B. A certified copy of this refunding bond etd nance as adopted on first reading should be filed with the Director of the Division of Locat Government Services in the Department of Corn munity Affairs of the State of New Jersey prior to final adootion. Section 6. This bond ordinance shall take effect 20 days after the first publication thereof after final adoption, as provided by the Local Bond Law. ovlded that the consent of the Local Finance ~oard has been endorsed upon a certi ed copy o this ordinance as finafl ado ted. STI~YTE M ~I~IT The bond ordinance published herewith has been fha y ado ted on AUGUST 14 2003 and the 20- day perio~lPof limitation within which a suit, acriD? or proceeding q~estioming the validity of such ordi- nance can be commenced, as provided in the Local Bond Law, has begun to run from the date of the first publication of this statement ($55.44) 30461