Office of the Township Clerk
Ordinances

VERNON TOWNSHIP ORDINANCE #03-07

"CAP" ORDINANCE TO EXCEED INDEX RATE; INDEX RATE LESS THAN 5% LIMITATION FOR THE YEAR 2003 (N.J.S.A. 40A:4-45.14)

WHEREAS, the Local Government Cap Law, N.J.S.A. 40A:4-45.1 et. seq., provides that in the preparation of its annual budget, a municipality shall limit any increase in said budget to 54% or the index rate, whichever is less, over the previous year's final appropriations, subject to certain exceptions; and

WHEREAS, P.L. 1986, C. 203 amended the Local Government Cap Law, to provide that a municipality may, in any year in which he index rate is less than 5%, increases its final appropriations by a percentage rate greater than he index rate but not to exceed the 5% rate as defined in the amendatory law, when authorized by ordinance; and

WHEREAS, the index rate for 2003 has been certified by the Directory of the Division of Local Government Services in the Department of Community Affairs as 1.0%; and

WHEREAS, the Township Council of the Township of Vernon in the County of Sussex finds it advisable and necessary to increase its fiscal year 2003 budget by more than 1.0% over the previous year's final appropriations, in the interest of promoting the health, safety and welfare of the citizens; and

WHEREAS, the Township Council hereby determines that a 2.75% increase in the budget for said year, amounting to $296,559.70 in excess of the increase in final appropriations otherwise permitted by the Local Government Cap Law, is advisable and necessary.

NOW, THEREFORE, BE IT ORDAINED by the Township Council of the Township of Vernon, in the County of Sussex, a majority of full authorized membership of this governing body affirmatively concurring, that, in the 2003 budget year, the final appropriations of the Township of Vernon shall, in accordance with this ordinance and P.L. 1986, C. 203, be increased by 3.75%, amounting to $404,399.59, and that the 2003 municipal budget for the Township of Vernon be approved and adopted in accordance with this ordinance; and

BE IT FURTHER ORDAINED, that a certified copy of this ordinance as introduced be filed with the Director of the Division of Local Government Services within five days of introduction; and

BE IT FURTHER ORDAINED, that a certified copy of this ordinance upon adoption, with he recorded vote included thereon, be filed with the Director within five days after such adoption.

NOTICE

NOTICE IS HEREBY GIVEN that the above ordinance was introduced and passed on first reading at the Regular Meeting of the Township Council of the Township of Vernon in the County of Sussex, State of New Jersey held in the Municipal Building on March 10, 2003 and the same came up for final passage at the Regular Meeting of the Township Council held on March 24, 2003, at which time, after persons interested were given an opportunity to be heard concerning said ordinance, the same was passed and will be in full force in the Township according to law.

________________________
John P. Logan, Mayor

____________________________
Patricia A. Lycosky, R. M. C.
Township Clerk