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HomeMy Public PortalAboutR 00:113No. 00-113 Date of Adoption APRIl. 6~ 2000 RESOLUTION FOR APPROPRIATION TO HOLD CARTERET BOROUGH HARMLESS AS A RESULT OF BELL ATLANTIC'S ACTION WHEREAS, a decision was made by Bell Atlantic to accelerate the depreciation of its Business Personal Property to achieve property tax savings which will affect most local municipalities in the State of New Jersey who will be forced to cover these savings by billing more to their local property taxpayers because of a decline in the assessable tax base in these municipalities as a result of Bell Atlantic' s action; and WHEREAS, the State of New Jersey has recognized the immediate hardship being placed on local municipalities and has made a one-time appropriation in the fiscal 2001 budget of $33.9 million to hold these municipalities harmless from the impact of this decision; and WHEREAS, the Borough of Carteret, like most municipalities, will realize the benefit of this program, but only for one year as the State action only covers the fiscal 2001 budget and none further; and WHEREAS, the impact of Bell Atlantic's decision will be felt much farther into the future than just one year in municipal budgets faced with annual increases in salaries, fringe benefits and other operating costs; and WHEREAS, the State of New Jersey should not only make this one-time appropriation a permanent one, but should also index it to the cost of living so as to truly hold municipalities harmless not only for one year but permanently or until an alternative source of revenue is found for this loss in tax receipts. NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council of the Borough of Carteret, County of Middlesex, State of New Jersey that the State, through our local Senate and Assembly legislators, be encouraged to make the one-time appropriation of $33.9 million permanent and index it to inflation so as to truly hold municipalities harmless by this Bell Atlantic decision and that a copy of this Resolution be sent to appropriate State authorities and to the Borough's Senate and Assembly delegations. Adopted this 6th day of April, 2000 and certified as a true copy of the original on April 7, 2000. KATHLEEN M. BARNEY, Municipal Clerk COUNCILMAN CRILLEY FAZEKAS O'BRIEN RECORD OF COUNCIL VOTE COUNCILMAN QUINONES SANTORO SOHAYDA A.B. X - Indicate Vote AB - Absent NV Not Voting XOR - Indicates Vote to Overrule Veto Adopted at a meeting of the Municipal Council