HomeMy Public PortalAbout2000/05/25
A Special Meeting of the Mayor and Council of the Borough of
Carteret was called to order by Mayor James A. Failace at 6:45 P.M.,
on Thursday, May 25, 2000, at the Municipal CourtJPolice Facility,
230 Roosevelt Avenue, Carteret, New Jersey.
Upon individual roll call, the following were noted present:
Councilmember Patrick Crilley
" Jack Fazekas
" James O'Brien
Noted absent were Councilmembers Quinones, Santoro, and Sohayda.
Also noted present was Borough Attorney Craig Coughlin.
The Clerk stated that on May 23, 2000, in full compliance with the
Open Public Meetings Act, a notice of tonight's meeting was sent to
The Home New Tribune, The Star-Ledger and posted on the bulletin
board.
To re-adopt Ordinance #00-17.
The Clerk stated the Ordinance needed to be readopted, the Public
Hearing was previously held.
Mayor Failace stated the reason for this readoption was because of the
debt statement.
Upon MMS&C, by Council members Crilley and O'Brien
ORDINANCE #00-17
"A BOND ORDINANCE PROVIDING FOR VARIOUS CAPITAL
IMPROVEMENTS OF THE BOROUGH OF CARTERET, IN THE
COUNTY OF MIDDLESEX, NEW JERSEY APPROPRIATING
THE AGGREGATE AMOUNT OF $1,211,000 THEREFORE AND
AUTHORIZING THE ISSUANCE OF $1,153,000 BONDS OR
NOTES OF THE BOROUGH TO FINANCE PART OF THE COST
THEREOF"
1.
was readopted. Upon individual roll call vote, Councilmembers
Crilley, Fazekas, O'Brien voted in the affirmative. Councilmembers
Quinones, Santoro and Sohayda were noted absent.
HAY 25, 2000
SPEX;IAL MEETING
ROlL CALL
STA'fÐ1I'Nl' OF
MEEI'ING NOTICE
RE-AOOPr
ORDINANCE #00-17
DISCUSSION
ORDINANCE #00-17
BaID ORDINANCE
APPROPRIATING
$1,211.000.00
RE: CAPITAL
IMPROVElIDITS
RE-AOOPI'ED
HAY 25, 2000
DISCUSSION
RECESS
RIDXMNED
ORDINANCE 100-17
!DID ORDINANCE
APPROPRIATING
$1,211,000.00
RE: CAPITAL
IMPROVEMENl'S
RE-AOOPI'ED
The Clerk asked Borough Attorney Coughlin if four votes were needed
for this Ordinance because it is a Bond Ordinance and questioned if
they should hold this meeting for action on this Ordinance until we
have a fourth Councilmember for the vote. Councilmember Sohayda
was the only member who notified her of his absence.
Attorney Coughlin stated the meeting does not have to be closed, it
can be recessed.
Upon MMS&C, by Councilmembers Crilley and O'Brien and
unanimous affirmative vote of the three (3) Councilmembers present,
the Mayor declared a recess at approximately 6:50 P.M.
Upon MMS&C, by Councilmembers Crilley and O'Brien and
unanimous affirmative vote of the five (5) Councilmembers present,
the meeting was reconvened at approximately 8:00 P.M.
During the recess Councilmembers Santoro and Quinones were noted
present.
Upon MMS&C, by Councilmembers Crilley and Santoro
ORDINANCE #00-17
"A BOND ORDINANCE PROVIDING FOR VARIOUS CAPITAL
IMPROVEMENTS OF THE BOROUGH OF CARTERET, IN THE
COUNTY OF MIDDLESEX, NEW JERSEY APPROPRIATING
THE AGGREGATE AMOUNT OF $1,211,000 THEREFORE AND
AUTHORIZING THE ISSUANCE OF $1,153,000 BONDS OR
NOTES OF THE BOROUGH TO FINANCE PART OF THE COST
THEREFORE"
was readopted. Upon individual roll call vote, Councilmembers
Crilley, Fazekas, O'Brien, Quinones voted in the affirmative.
Councilmember Santoro voted no. Councilmember Sohayda was
noted absent.
Adopted and Approved: Mav 25. 2000
Introduced: April 24. 2000
Tabled: April 24. 2000
Reintroduced and Adopted on First Reading: Mav 4. 2000
Advertised as adopted on First Reading with
Notice of Public Hearing: May 4. 2000
Advertised as Adopted: Mav 9. 2000
Hearing Held: May 18. 2000 2.
Adopted: May 18.2000
Re-Adopted: May 25. 2000
Approved by: Mayor James A. Failace
Adopted: May 31. 2000
"BOND ORINANCE PROVIDING FOR VARIOUS CAPITAL
IMPROVEMENTS OF THE BOROUGH OF CARTERET, IN THE
COUNTY OF MIDDLESEX, NEW JERSEY APPROPRIATING
THE AGGREGATE AMOUNT OF $1,211,000 THEREFORE AND
AUTHORIZING THE ISSUANCE OF $1,153,000 BONDS OR
NOTES OF THE BOROUGH TO FINANCE PART OF 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 several improvements described in Section 3 of this
bond ordinance are hereby respectively authorized to be undertaken by
the Borough of Carteret, New Jersey as general improvements. For
the several improvements or purposes described in Section 3, there are
hereby appropriated the respective sums of money therein stated as the
appropriation made for each improvement or purpose, such sums
amounting in the aggregated to $1,211,000, including the aggregate
sum of $58,000 as the several down payments for the improvements or
purposes required by the Local Bond Law. The down payments have
been made available by virtue of provision for down payment or for
capital improvement purposes in one or more previously adopted
budgets.
Section 2. In order to finance the cost of the several improvements or
purposes not covered by application of the several down payments,
negotiable bonds are hereby authorized to be issued in the principal
amount of $1,153,000 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. The several improvements hereby authorized and the
several purposes for which the bonds are to be issued, the estimated
cost of each improvement and the appropriation therefore, the
estimated maximum amount of bonds or notes to be issued for each
improvement and the period of usefulness of each improvement are as
follows
3.
Pumose
Appropriation
And Estimated
Cost
Estimated
Maximum
Amount of
Bonds or
Notes
Period of
Usefulness
a)Acquisition and
Installation of
Communications equipment
For the Emergency
Management Department $28,500
$27,140
10 years
HAY 25, 2000
!DID ORDINANCE
(continuedO
MAY 25, 2000
Estimated
Maximum
Appropriation Amount of
And Estimated Bonds or Period of
!DID ORDINANCE Pumose Cost Notes Usefulness
(continued) b)Acquisition of a new
equipped fire engine $400,000 $380,950 10 years
c)Acquisition of
equipment for the Fire
Department consisting
of a four-wheel drive
vehicle, air conditioners
and fire gear $70,000 $66,590 5 years
d)Acquisition of a
copier for the Health
Department $7,000 $6,600 5 years
e )Improvement of Borough
park facilities involving
acquisition and
installation of playground
equipment and site
improvements $100,000 $95,235 15 years
DAcquisition of mowers
and a tractor for the
Parks Department $72,000 $69,000 5 years
g)Rehabilitation of
evidence room and
prisoner cells at the
Police Department $56,400 $53,700 15 years
h)Acquisition of
equipment for the Police
Department consisting of
in-car video, radar,
finger printing,
monitoring and radio
equipment, a recorder,
a generator and ri fles $109,500 $104,285 10 years
i)Acquisition of office
furniture for the Police
Department $10,000 $9,000 5 years
DAcquisition of equipment 4.
for Streets & Roads
Department consisting
of a backhoe, a mini-
roller, and air compressor
and a salt spreader $82,000 $78,000 5 years
HAY 25, 2000
Estimated
Maximum !DID ORDINANCE
Appropriation Amount of (continued)
And Estimated Bonds or Period of
Pumose Cost Notes Usefulness
k)Acquisition and
installation of
telecommunications
equipment $65,000 $61,900 5 years
I)Major repairs to all
municipally-owned
buildings $100,000 $95,235 20 years
m)Removal and
replacement of
underground
storage tanks $110,000 $104,855 15 years
TOTALS: $1,211,000 $1,153,000
The excess of the appropriation made for each of the improvements or
purposes aforesaid over the estimated maximum amount of bonds or
notes to be issued therefore, as above stated, is the amount of the down
payment for each purpose.
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 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.
5.
HAY 25, 2000
!DID ORDINANCE
(Continœd)
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 Local 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 purposes described in Section 3 of this bond ordinance are not
current expenses. They are all improvements that the Borough
may lawfully undertake as general improvements, and no part of
the costs thereof has been or shall be specially assessed on
property specially benefited thereby.
(b) The average period of usefulness, computed on the basis of the
respective amounts of obligations authorized for each purpose and
the reasonable life thereof within the limitations of the Local Bond
Law, is 10.66 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 $1,153,000
and the obligations authorized herein will be within all debt
limitations prescribed by that Law.
(d) An aggregate amount not exceeding $242,200 for items of expense
listed in and permitted under N.J.S.A. 40A:2-20 is included in the
estimated costs indicated herein for the purpose of improyements.
Section 7. Any grant moneys received for the purposes described in
Section 3 hereof shall be applied either to direct payment of the cost of
the improvements 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.
Section 8. 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.
6.
Section 9. This bond ordinance shall take effect 20 days after the first
publication thereof after final adoption, as provided by the Local Bond
Law.
There being no further discussion or business, upon MMS&C, by
Councilmembers Crilley and Quinones and unanimous affirmative
vote of the five (5) Councilmembers present, the meeting was
adjourned at approximately 8:00 P.M.
KATHLEEN M. BARNEY
Municipal Clerk
KMB/cp
7.
HAY 25, 2000
!DID ORDINANCE
(Continued)
ADJOURNED
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