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HomeMy Public PortalAboutr 09:135 ~ezoJntion of t4e 2iorong4 of QIarteret) ~~. W ~ No09-135 D"eofAdoptio" Jlre 4.20J9 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. 58:lIB-9(a), N.J.S.A. 40A:2-7(d), N.J.S.A. 40A:2-11 AND N.J.S.A. 2-26(e) WHEREAS, the Borough of Carteret, in the County of Middlesex (the "Borough") desires to make application to the Local Finance Board for its approval (i) pursuant to N.J.S.A. 58: llB.9(a) of a proposed financing through the 2009 New Jersey Environmental Infrastructure Tmst Financing Program for the various improvements to the water and sewer systems (the "Project"), (ii) pursuant to N.J.S.A. 40A:2-26(e) ofa non-confonning maturity schedule in connection with such financing and (Hi) pursuant to NJ.S.A. 40A:2.7(d) and 40A:2.11 of a bond ordinance providing for the improvements to the Project within the Borough, appropriating $8,100,000 therefor and authorizing the issuance of $8,1 00,000 bonds or notes to finance part of the cost thereof; WHEREAS, the Borough believes that: (a) it is in the public interest to accomplish such purpose; (b) said purpose or improvements are for the health, welfare, convenience or betterment of the inhabitants of the local unit or units; (c) the amounts to be expended for said purpose or improvements are not unreasonable or exorbitant; (d) the proposal is an efficient and feasible means of providing services for the needs of the inhabitants of the local unit or units and will not create an undue financial burden to be placed upon the local unit or units; NOW THEREFORE, BE IT RESOLVED BY THE BOROUGH OF CARTERET, IN THE COUNTY OF ~IIDDLESEX, NEW JERSEY as follows: Section 1. The application to the Local Finance Board is hereby approved, and the Borough's Bond Counsel and financial advisor, 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 prepare and file a copy of the proposed resolution with the Local Finance Board as part of such application. Section 3. The Local Finance Board is hereby respectfully requested to consider such application and to record its findings, recommendations and/or approvals as provided by the applicable New Jersey Statute. AtptErl this 11th day of Juo=, 2OJ9 arrl certifie::l as a tnE cqy of t:h= or:ig:iml on JUre 12, 2OJ9. KiXJHlEEN M. l'ARL~, M1: . .Mmicip3l Clerk COUNCILl\iAN BELLINO CDLON Dr RECORD OF CO\JNCIL VOTE YES NO NY A.B. CQUNCILl\IAN YES NO NY A.B. x x _ Indicate Vole AS - Absent NV - Not Voting XOR - Indicates Vote to Overrule Velo Adopted at a meeting oflhe Municipal Council ~ " (J/~~~ CLER