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Home My Public Portal AboutOrd. 06-46 No. *0(,-4(, OOrûimm.c.e af t~.e ißaraugI1 af arurt.erd1 ~. íL Councilman Presents the fo!!owing Ordinance Seconded by Cou cilman BOND ORDINANCE PROVIDING FOR VARIOUS IMP OVEMENTS WITHIN THE SPECIAL IMPROVEMENT DISTRICT I AND BY THE BOROUGH OF CARTERET, IN THE COUNTY OF M DDLESEX, NEW JERSEY, APPROPRIATING $300,000 THER FOR AND AUTHORIZING THE ISSUANCE OF $300,000 BONDS OR NOTES OF THE BOROUGH TO FINANCE PART OF THE COST HEREOF. BE IT ORDAINED BY THE BOROUGH COUNCIL OF 'HE BOROUGH OF CARTERET, IN THE COUNTY OF MIDDLESEX, NEW JER EY (not less than two-thirds of all members thereof affirmatively concurring) AS FOLLOWS: Section 1_The improvement described in Section 3 of this bond ordinance is hereby authorized to be unde taken by the Borough of Carteret, New Jersey as a general imp ovement. For the improvement or purpose described in Sectio 3, there is hereby appropriated the sum of $300,000. No down payment is required pursuant to N.J.S.A. 40A, 2-11 Ie) ,s thi s bond ordinance authorizes obligations solely fo a purpose described in N.J.S.A. 40A:2-7(d). Section 2.In order to finance the cost of t e improvement or purpose, negotiable bonds are hereby auth rized to be issued in the principal amount of $300,000 pu suant to the Local Bond Law. In anticipation of the issuance of the bonds, negotiable bond anticipation notes are hereby au horized to be issued pursuant to and within the limitations prescribed by the Local Bond Law. Section 3. (a) The improvement hereby autho ized and the purpose for the financing of which the bonds arE to be issued is any and all capital improvements within he Borough's special improvement district, including but n t limited to improvements to and/or installation of curb sidewalks, NO. Jíl6..~.Mi____ PAGE Z of 5 decorative street lighting, shade trees, pav rs and road improvements within the Lower Roosevelt Avenue Redevelopment Area, and the following roads: Roosevelt Avenue from Washington Avenue/Holmes Street to Industrial R ad, Roosevelt Avenue from Blair Road to Post Boulevard and Ro sevelt Avenue from Edwin Street to Industrial Road, including all work and materials necessary therefor and incidental ther to. (b) The estimated maximum amount of bonds r notes to be issued for the improvement or purpose is as sta ed in Section 2 hereof. (c) The estimated cost of the improvement or purpose is equal to the amount of the appropriation herein ade therefor. Section 4.AII bond anticipation notes iss ed 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 be r interest at such rate or rates and be in such form as may be determined by the chief financial officer. The chief fina cial officer shall determine all matters in connection with notes issued pursuant to this ordinance, and the chief finan ial officer's signature upon the notes shall be conclusive e idence as to all such determinations. All notes issued her under may be renewed from time to time subj ect to the prov sions of the Local Bond Law. The chief financial offic r is hereby authorized to sell part or all of the notes fro 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 t the date of delivery thereof. The chief financial officer's directed to report in writing to the governing body at the meeting next succeeding the date when any sale or deli very of the notes pursuant to this ordinance is made. Such report must include the amount, the description, the interest ate and the NO. --ito6-/,6 PAGE 3 of 5 maturity schedule of the notes sold, the price obtained and the name of the purchaser. Section 5.The Borough hereby certifies hat it has adopted a capi tal budget or a temporary capi të 1 budget, as applicable. The capi tal or temporary capi tal b dget of the Borough is heréby amended to conform with the rovisions of this ordinance to the extent of any inconsiste cy herewith. To the extent that the purposes authorized herein are inconsistent with the adopted capi tal or temp rary capi tal budget, a revised capital or temporary capital bu get has beeD filed with the Division of Local Government Servi es. Section 6.The following additional matter are hereby determined, declared, recited and stated: this la) bond The improvement or purpose described in Section 3 of ordinance is not a current expense. It is an improvement or purpose that the Borough may lawfu ly undertake as a general improvement, and no part of the cos thereof has been or shall be specially assessed on prope ty specially benefitted thereby. (b) The period of usefulness of the im rovement or purpose within the limitations of the Loca Bond Law, according to the reasonable life thereof compu ed from the date of the bonds authorized by this ordinance, i 15 years. (c) The Supplemental Debt Statement requ·red by the Local Bond Law has been duly prepared and filed n 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 f Community Affairs of the State of New Jersey. Such stateme t shows that the gross debt of the Borough as defined in the L cal Bond Law is increased by the authorization of the bon( s and notes provided in this bond ordinance by $300,000, and the NO. #06-46 PAGE 4 of 5 obligations authorized herein will be with'n all debt limitations prescribed by that Law. (d) An aggregate amount not exceeding $60,000 for items of expense listed in and permitted under N.J.S. 40A:2-20 is included in the estimated cost indicated he ein for the purpose or improvement. Section 7.Any grant moneys received for the purpose described in Section 3 hereof shall be app1' ed either to direct payment of the cost of the improvement or to payment of the obligations issued pursuant to this ordinallc The amount of obligations authorized but not issued hereu der shall be reduced to the extent that such funds are so use Section 8. The chief financial off'cer of the Borough is hereby authorized to prepare and t update from time to time as necessary a financial disclosu e document to be distributed in connection with the sale of bligations of the Borough and to execute such disclosure docu ent on behalf of the Borough. The chief financial office is further authorized to enter into the appropriate u dertaking to provide secondary market disclosure on behalf f the Borough pursuant to Rule 15c2-12 of the Securities and Exchange Commission Ithe "Rule") for the benefit of holders and beneficial owners of obligations of the Borough and to amend such undertaking from time to time in connec ion wi th any change in law, or interpretation thereof, rovided such undertaking is and continues to be, in the opinion of a nationally recognized bond counsel, consist nt with the requirements of the Rule. In the event tha the Borough fails to comply with its undertaking, the Bora gh shall not be liable for any monetary damages, and the re edy shall be limited to specific performance of the undertaki g. NO _ID.(;-h.(; PAGE _.Lof 5 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 authorize by this bond ordinance. The obligations shall be direct, unlimited obligations of the Borough, and the Borough s all be obligated to levy ad valorem taxes upon all the taxab e real property within the Borough for the payment of the abl'gations and the interest thereon without limitation of rate 0 amount. Section 10. This bond ordinance shall take effect 20 days after the first publication thereof afte final adoption, as provided by the Local Bond Law. --COUNCIU\1AN BELLINO DIAZ DO NOT USE SPACE nEl.OW nlls LINE RECOIUJ OF COUNCIL VOTE YES NO NV A.ß. COUNCILMAN NAPLES RIOS .SITARZ YE-S NO NY A.ß. x x - !IIlJicalo.; Vole AU - Ab_,cl1l NV _ Nol V\lling XOR . [nl!icalcs UIC 10 Ovcrruk Velo 1" 10, 7006 AtJoplcd on fir~¡ reauing or ¡he Cmm<.:il or (ne Bnrnllgh or Cntcrcl, N.J.. nn lcuring on August 24 2006 APPROVED BY ON f(~ . ---- MAYO/< M JNI [PAL CL ·RK -- AFFIDAVIT OF PUBLI ATION The following is a true Resolution of the Borough appeared in the Home News Tri which is printed in Freehold, New J rsey and published in Neptune, in said County and St te and of general circulation in said county. ONR (1) times, once in each issue as follows: copy of of an Ordinance or arteret that has a newspaper .J ~ Kathleen Barney, RM Municipal Clerk August 16, 2006 /{\ l l\t 1': \J v ~on 6. The bllowfnI addftionel '!UIIDfs .re _,docl.roiI, ___, (.1 ""''\r.~~.. _~"'Sac· lion... ~ ...._... ~. It... -.... . .... INt h - ~ ~ ··Sllm- no IH't Of the COlt has or.· be --.d an spe- ~~~.'" Œæ ì"nt'..e.,~. ~#£~~~~~ .. "Ihe~"_~ :r~I:-.t..~... ..muñit;'":= ..... . 'u..~ln 3:... ,_"""..__"':.~ GldlnHOl trj·noo.OOO, and 1he ~ .u- ~.htÑin will be WIthin all dItit.· Hmfbrtjons 5--· (An . amount øøt~·.MO.OOO far .. IfåCI In~ ~ Under N.J. . ; - it inctudecf Ifi the ..urn.... COlt Indfcattld heNfn tor the 1MJ*e. or Improwe- ~7...,.,___............ _ _'if-"__'''_ ::::::r-:' ~¿the co.t at~: _......~.TIIo'="'..~ ~ but not IeIued ........... .;¡¡___....rë. -.....----.....-. SeotIon 8. The chi., ftMncIIat øPItc:W at the Bot· ~ 't.:;¡t-.::::..... ..~= .....c:ICJCurne'It.Þlld~WIth ~O~ Notary Public of New Jersey Affidavit of Publicatio Publisher's Fee $160.16 Affidavit e $25.00 State of New Jersey Middlesex County } SS. ~' , c;. q :J:..i (", \r. g\ ~~ 0,\ ~ \0'" 'It" "Z. Personally appeared Kelli Fletcher Of the Home News Tribune, a newspaper printed in Freehold, New Jers y and published in NEPTUNE, in said County and State, and of general circulation in said county, who eing duly sworn, deposeth and saith that the advertisement of which the annexed is a true copy, has been pub ished in the said newspaper 1 times, once in each issue as follows: Sworn and subscribed before me, this 16 day of August, 2006 \ _ /¿1z¿1LdJJ iÎ¡þtl!y ¡f;~P~4t~' "Notary Public of New Jersey BOROUGH OF CARTERET ORDINANCE #06-46 BOND ORDINANCE PROVIDING FOR VARI- OUS IMPROVEMENTS. WITHIN THE SPE- CIAL IMPROVEMENT DISTRICT IN AND BY ¿~ÜN~~~9-U 3~DD 2[SE~~FfTf~EJER~~Y, TAHp~ PROPRIATING $300,000 THEREFOR AND AUTHORIZING THE ISSUANCE OF $300,000 BONDS OR NOTES OF THE BOR- OUGH TO FINANCE PART OF THE COST THEREOF. RF: IT ORDAINED BY THE BOROUGH COUNCIL. OF THE BOROUGH OF CARTERET, IN THE COUN- TY OF. MIDDLESEX, NEW JERSEY (not less than two-thirds otall members thereof affirmatively con- curring) AS FOLLOWS, Section l.The Improvement described in Section 3 of this bond ordinance IS hereby authOrized to be undertaken by the Borough of Carte_ret, New Jersey as a general Improvement. For the Improvement or purpose described In Section 3_ there IS hereby ap- proprlated the sum of $300,000 No down pay- mentis required, pursuant to N.J.S.A. 40A:Z-ll (c) as this bond ordinance authorizes obligations solely for a p_urpose described in N.J.S.A. 40A:2-7{d). Section 2_ In order to finance the coat of the im- provement or purpose, negotiable bonds are here- by authorized to be Issued In the principal amount o $300,000 pursuant to the Local Bond Law. _In anticipation ot the Issuance 01 the bonds, negotia- ble bond anticipatIOn notes are hereby authorized to be ,Issued pursuant to and within the limitations prescribed by the Local Bond Law. Section 3_ (a) Tile improvement _hereby authorized and Ifle purpose, for the financing at which the bonds are to be Issued IS any and all capital 1111- prOVf~rnents Within the Borough's special Improve- ment district, Including but not limited to Improve- rTlellts to and/or InstallatIOn of curbs, sidewalks, ?;igrai~~ros,J~;~~nl~;ht~Æhi~htg~ tL~~er paRg~;e~~I~ Avenûe Redevelopment Area, and the following roads· Roosevelt Avenue from Washington ~~â~~~/~~~~es B~trree~¿~dl n?~s~~it R~~~ie~a~~se~~~ Roosevelt Avenue from Edwin Street to Industrial rh~~~to~r~c~~4~nlfd:~lta'í'?h~ret~~ materials necessary (b) The estimated maximum amount of bonds or rlO~~S si~t~d i~sS~~~0~02 t~~r~~rovement or purpose The estimated cost of the improvelllent or pur- is equal to the amoullt of the appropna\Íon _.ein made therefor Section 4. All bond antlclpa- --(ion notes issued IlereulltJer shall mature at such times as may be determined by the chief financial ollocer; provided Hlat no note shall mature later than olle year from ItS date. The notes shall bear ,nterest at such rate or rates and b_e ill such form as may be ,determlned_ by the chief financial oHlcer. Tile chief financial oHlcer shall determine all mat- ters in connection with notes issued pursuant to this ordillance, and the chief financial oHlcers sig- nature UDon the notes shall be conclusive eVidence as to all ·such dete~"llinaliQns. All notes issued here- ¡~n~t~~_~~0is~¿n5r~?et~~d ¿~~~ ~~~ t~a~r:nftl~U~h~~~ financial officer 15 hereby authorized to sell part or all of H18 notes from time to time at public or pn" vate 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 wnt,ngto the governing body 81 the meeting next succeeding the ,date when any sale or delivery of ttle notes pursuant to this ordi- nance is made Suetl report must include the amount, the description, the Interest rate and the "'tUrlty schedule of the notes sold, the price ob- led and the name of the purchaser ;tion 5.TheBorough hereby certifies that it has _A. Jpted a capital budget or a temporary capital budget, as aPfllcable. The capital or temporary ~~~f~~llb~f~tt~e t~~V~~i~0~sg~fl~h7;r~~J¡n~~~~~;dt~~ extent of any inconsistency herewith. To the extent th¿t the purposes authorized herein are InconSistent with the adopted capital or temporary capital ~;j~l~~t'b~e~~v/iT:~ ~irr:tf~eoD~~~i6~ra07 L~~ita¿¿>v~~~: mcnt Services. Section 6_ nle fOllowin§ additional matters are h(~)bfll~e~~~~~nv~~~;tClb;epùr~e;~~e~:S~~i~~~tei~: Sec- tion 3 of this bond ordinance is not a current ex- ~ense, It is an improvement or purpose tllat the ;;;~~~I~n~~a~nldw~l~IIYp~r~d;~at~~ ~~st t~ee~~~fl hr;;~ ~een or shall be specially assessed on property spe- cl(gj ~~~ef¿~~foddt~1r~~~tulness of the improvement or purpose within the limitations of the Local Bond Law, according to the reasonable life thereof com- puted from the date ot the bonds authorized by lr'IS orlÍlr1ance, I:> 15 year5. th(;) r~~afuEfg~~më~~a I h~seb~e~~a~~:n6r~~~~~~da~a filed III the office of the Clerk, and a complete exe- culed duplicate thereof _has been filed in the office o~ tile Director of the DIVISiOn of Local Government Services in the Department of Community Affairs of tr,e State of New Jersey. Such statement shows ~~~t Lo~ha1 ª~nsd ~ae~t ~~ it~Zre~~~~uß~ t'hse ~~f;~~~z~~ tion of the bonds and notes provided In this bond ordlnance by $500,000, and the obligations _ au- thorized herein will be within all debt limitations prescribed by that Law. (d) An agregate amount not exceeding $60,000 IN~j.I~~JrS goÃ~~:£6e i~sti~~I~~e'dndinPetrh~ltt;s~ir:::~feeJ cost indicated Ilerein for the purpose or Improve- ment. Section 7. Any_grant moneys received for the pour· pose described In Section 3 hereof shall be applied elt!ler to direct payment of the cost of the improve- ment or to payment of the obligations Issued pur- sU.;Jnt to this ordmance. The amount of obligations authorized but not issued hereunder shall be re- duced to the extent that such funds are so used. Section 8_ The cllief financial officer of the 80r- ?,~)!f~l i~i~~r~~y ti~~~h~~Z~~c~~s~~p~r1inaanndcì~~ ~~~b~ , document to be distnbuted III connection with e s~l~c~f gi~~foa¿~~~s d~c~~e~r~~g~e~~?f tgf et~~ <sorough. The ch_ief financial off.icer is further au- ~~~~Ii~eed ~~c~~t¿~;t~n~~~e~P~r~gl~~~~e u~~e~:~I~lf ~1 ~~J~it~~ro~rf~ J1;~~;11~~~ ~0~~Tss1g~2(t~~ ,?~utl~~} 19~ the benefit of holders and beneficial owners of ob- ligations of the Borough and to amend such under- taking from time to time 111 connection with. any dlange In law" or Interpretation thereof, provided such undertaking is and continues to be In the oplrlion of a nationally, recognized bond counsel, conSistent Wllll the requirements of tile Rule. In the J~;~~tkf~1:,t i~~ ~~~~~~¡~ :~~fl ~ofo~flliab:~h f~~_ ~~y ~~0~¿~ap~ci1i~m~~eOsrm~~~et~f t~eemuendJe~~~:~ ~e Ilmlt- Section 9. 'fF,e full faith and credit of the13orough are Ilereby pledged to the punctual palment of the principal ot and the IIlterest on the OD igatlOns au- thorized by this bond. ordinance._ The obligations shall be direct, unlimited obligations of the Bor- ough, and the Borougll shall be obligated to levy ad valorem taxes upon all the taxable real property within the tlorough for the payment of the o_bliga- trans and the Interest thereon without IHnltatlon of rate or amount 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. Tile foregoing ordinance was introduced at a meet- Ing of the Council of tile Borough of Carteret held AL:gust 10, 2006 when It was adopted on First Readlng_ The said ordinance will be further consld- en~d _ on Second Reading for tinal adoption at a meetIng of said Council ot the Borou~h of Carteret Mnu~~f~aslt 2¿oC~<Þ~li~~ a~~~~~~at~~06:~go:e~if Avenue, Cartcret, _ New Jersey at which time and place all persons Interested will be given an oppor- tunity to be heard. KATHLEEN M. BARNEY, Certified Municipal Clerk ($160.16) 131918 AFFIDAVIT OF PUBL CATION The following IS a true copy 0 an Ordinance or Resolution of the Borough of Carteret that has appeared in the Home News Tr bune, a newspaper which is printed in Freehold, New ersey and published in Neptune, in said County and tate and of general circulation in s'aid county. ONE 1 times, once in each issue as follows: August 30, 2006 .~---I~ 0. ~ Notary Public ofNetrN¡JH.~VERA NOTARY PUBLIC OF NEW JERSEY MY COMMISSION EXPIRES MAY 2, 2011 Sworn and subscribed before me this,:r~ day Of~?<t. ' leen Barney, icipal Clerk 8QIDI;IIOFCMIBIEI' ''-7 /CIVIC Ó,c¡þ -If(" Affidavit of Publicatio Publisher's Fee $44.00 Affidavit C arge $25.00 State of New Jersey Middlesex County Personally appeared Elizabeth Spengler } SS. &t \\~ Of the Home News Tribune, a newspaper printed in Freehold, New Jerse and published in NEPTUNE, in said County and State, and of general circulation in said county, who ing duly sworn, deposeth and saith that the advertisement of which the annexed is a true copy, has been publi hed in the said newspaper ] tir¡¡es, once in each issue as follows: ,! I T NOTÞ.RY PUE;~.;C OF !,,¡E\\' \}Eh2='~1 r\J.\I C,,-^·"'ot (~,11 I"'> l ¡l.,. -'I.'¡ r~ ~ " I -\'.'!'Jr.'· """ Ii :' ~ ~i ,// \' ,¿/~. '¿' xt" ( / Notary Public of New Jersey ~ . , d é/ ¡ ''-e>~ BOROUGH Of CARTERET ORDINANCE #06-46 BOND ORDINANCE STATEMENT AND SUMMARY The bond ordinßnce, the summary terms of which are Included herein, has been finafly adopte_d by the Borough of Carteret, In the county of Middlesex, State of New Jersey on August 24, 2006, and the 20 day period of limitation within which a SUIt, ac- tion or proceeding questioning the validity of such ordinance can be commenced, as provided in the Local Bond Law, has begun to run from the date of the first publication of this statement. Copies of the full ordinance are available at no coast .and dUring regular business hours, at the Clerk's office for em- bers of the general public who request the same. The summary of the terms of such bond ordinance follows: Title: BCND ORDINA;'>JCE PROVIDiNG FOR VARi- OUS IMPROVEMENTS WITHIN THE SPECiAL IM- PROVEMENT DISTRICT IN AND BY THE BOR- OUGH OF CARTERET, IN THE COUNTY OF MID- DLES EX, NEW JERSEY, APPROPRIATING $300,00 BONDS OR NOTES OF THE BOROUGH TO FINANCE PART OF THE COST THEREOF. Purpose (s): The improvement. authorized and the purpose for the financing of which the bonds are to be Issued IS any and all capital Improvements With- in the Borough's special Improvement distriCt, In- ~~~f1n~ti~~t ~?tc~i;:g~,edsi~~';"~fk~ved~~g~;ti0~ as1~~~t lighting, shade trees, pavers and road improve- ments within the Lower Roosevelt Avenue Redevel- opment Area, and the followini: roads: Roosevelt Avenue -tram Washington Avenue/Holmes Street to Industrial Road, Roosevelt Avenue -trom Blair Road to Post Boulevard and Roosevelt Avenue from Edwin Street to Industrial Road, including all work and materials necessary therefor and inciaen. tal thereto. Appropriation: $300.000 Bonds/Notes Authorized: $300,000 ~~~~bsn (~gë!¿s¿fP$~¿,i5}j'g: $0 Useful Life: 15 Years Kathleen M. Barney, Clerk ($44.00) 149067 v (fU/ ;It _/-f? JON S. CORZINE Governor �� .f S fn )�{�t �� i . 327tnte of New Jeruu DEPARTMENT OF ComNtuNITY AFFAIRS March 17, 2008 Matthew D. Jessup McManimon & Scotland, LLC One Riverfront Plaza, 41h Floor Newark, New Jersey 07102 Dear Mr. Jessup: JOSEPH V. DORIA. JR. Commissioner Enclosed please find Local Finance Board (Board) Resolution(s) reflecting the action the Board took at the meeting held on Wednesday, September 13, 2006. If you have any questions regarding tNs information, please feel free to contact me at (609) 292 -4537. Sincerely, W u c rrl Patricia Parkin McNamara Executive Secretary Local Finance Board 1W Enclosure cc: Kathleen M. Barney Joseph P. Baumann, Jr. Andrew G. Hodulik New Jersey is An Equal Opportunity Employer ® Printer/ on Recycled Paper and Recyclable U� r, d ? f K , 0 il of New @rrSe1J DEPARTMENT OF COMMUNITY AFFAIRS JON S. CORZINE Governor LOCAL FINANCE BOARD RESOLUTION SUSAN BASS LEVIN Commissioner WHEREAS, the officials of the Borough of Carteret, in the County of Middlesex, have requested the Local Finance Board to consider approval of a bond ordinance without a down payment provided that an exception to N.J.S.A. 40A:2 -11 may be determined by the Local Finance Board as permitted under N.J.S.A. 40A:2 -7(d); and WHEREAS, the Municipal Clerk has certified that the governing body passed on first reading the following Bond Ordinance: BOND ORDINANCE PROVIDING FOR VARIOUS IMPROVEMENTS WITHIN THE SPECIAL IMPROVEMENT DISTRICT IN AND BY THE BOROUGH OF CARTERET, IN THE COUNTY OF MIDDLESEX, NEW JERSEY, APPROPRIATING $300,000 THEREFOR AND AUTHORIZING THE ISSUANCE OF $300,000 BONDS OR NOTES OF THE BOROUGH TO FINANCE PART OF THE COST THEREOF. WHEREAS, the Local Finance Board has reviewed and considered on September 13, 2006, the application made pursuant to N.J.S.A. 40A:2 -7(d) and found the subject ordinance to be in the public interest and for the health, welfare, convenience or betterment of the inhabitants of such local unit; and WHEREAS, the Local Finance Board has found that the amounts to be expended or financed are not unreasonable or exorbitant and that the issuance of such obligations will not materially impair the credit of such local unit or substantially reduce its ability to pay punctually the principal of and interest on its debt and to supply other essential public improvements; NOW, THEREFORE, BE IT RESOLVED by the Local Finance Board that said Board does hereby give consent to the adoption of such Bond Ordinance without the inclusion of a down payment; and R� �a New Jersey is An Egttal Oppo>ltwily Employer • Prinled on Recycled Paper and Recyclable Page 2 Local Finance Board Borough of Carteret September 13, 2006 BE IT FURTHER RESOLVED that the Executive Secretary of the Local Finance Board is hereby authorized and directed to certify or endorse such documents or instruments as may be necessary, convenient or desirable in order to carry out the purpose and provisions of the Law and this Resolution; and BE IT FURTHER RESOLVED that the Borough of Carteret shall, within 30 days of the closing date of the financing that is the subject of this resolution, file with the Executive Secretary of the Local Finance Board a statement setting forth a complete accounting of the actual issuance costs incurred by the Borough of Carteret in undertaking the financing which statement shall include the following: the name of Borough of Carteret; the closing date of the financing; the total amount of the financing; the name of the professionals or others who provided services to the Borough of Carteret in undertaking the financing; the estimated dollar amount for each type of issuance cost as set forth in the application submitted by the Borough of Carteret to the Local Finance Board with regard to the financing; and the actual dollar amount for each type of issuance cost incurred by the Borough of Carteret in undertaking the financing; and BE IT FURTHER RESOLVED that this Resolution shall take effect inunediately. APPROVED BY THE LOCAL FINANCE BOARD DATE: September 13, 2006 PATRICIA PARKIN MCNAMARA EXECUTIVE SECRETARY LOCAL FINANCE BOARD 12825/WODP -260 \ / §tatr of Xrw Jersey DEPARTMENT OF COMMUNITY AFFAIRS JON S. CORZINE Governor CERTIFICATE OF SECRETARY OF LOCAL FINANCE BOARD SUSAN BASS LEVIN Commissioner I, PATRICIA PARKIN MCNAMARA, Executive Secretary of the Local Finance Board in the Division of Local Government Services in the Department of Community Affairs of the State of New Jersey, HEREBY CERTIFY that the within Bond Ordinance approving the issuance of $300,000 Bond(s) and/or Notes by the Borough of Carteret in the County of Middlesex, New Jersey, in accordance with the provisions of N.J.S.A. 40A:2 -7(d) has been and is consented to and approved by the Local Finance Board and that this approval is hereby endorsed upon the annexed copy of the resolution pursuant to the authorization and direction of the Local Finance Board. IN WITNESS WHEREOF, I have hereunto set my hand at Trenton, New Jersey, this 20th day of September, 2006. �% - M e PATRICIA PARKIN MCNAMARA EXECUTIVE SECRETARY LOCAL FINANCE BOARD 12825/WODP -260 o New Jersey is An Equal Opportunity Employer • Printed on Recycled Paper and Recyclable