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Office
of the Township Clerk
Ordinances
TOWNSHIP
OF VERNON
ORDINANCE #06-19
BOND ORDINANCE APPROPRIATING $4,100,000, AND AUTHORIZING THE ISSUANCE OF $3,780,500 BONDS OR NOTES OF THE TOWNSHIP, FOR VARIOUS IMPROVEMENTS OR PURPOSES AUTHORIZED TO BE UNDERTAKEN BY THE TOWNSHIP OF VERNON, IN THE COUNTY OF SUSSEX, NEW JERSEY.
BE IT ORDAINED BY THE TOWNSHIP COUNCIL OF THE TOWNSHIP OF VERNON, IN THE COUNTY OF SUSSEX, NEW JERSEY (not less than two-thirds of all the members thereof affirmatively concurring), AS FOLLOWS:
Section 1. The several improvements described in Section 3 of this bond ordinance are hereby respectively authorized as general improvements to be made or acquired by the Township of Vernon, in the County of Sussex, New Jersey. For the said several improvements or purposes stated in said Section 3, there are hereby appropriated the respective sums of money therein stated as the appropriations made for said improvements or purposes, said sums being inclusive of all appropriations heretofore made therefor and amounting in the aggregate to $4,100,000 including the aggregate sum of $170,000 as the several down payments for said improvements or purposes required by law and more particularly described in said Section 3 and now available therefor by virtue of provision in a previously adopted budget or budgets of the Township for down payment or for capital improvement purposes and including also (i) in the case of the improvement or purpose described in paragraph (e) of said Section 3, the sum of $149,500 from the Open Space Trust Fund of the Township and (ii) in the case of the improvement or purpose described in paragraph (f) of said Section 3, the sums of $250,000 and $140,000 received or expected to be received by the Township from the New Jersey Department of Transportation as grants in aid of financing said improvement to the Bike Path and Lounsberry Hollow Road, respectively.
Section 2. For the financing of said improvements or purposes and to meet the part of said $4,100,000 appropriations not provided for by application hereunder of said down payments and sum from the Open Space Trust Fund, negotiable bonds of the Township are hereby authorized to be issued in the principal amount of $3,780,500 pursuant to the Local Bond Law of New Jersey. In anticipation of the issuance of said bonds and to temporarily finance said improvements or purposes, negotiable notes of the Township in a principal amount not exceeding $3,780,500 are hereby authorized to be issued pursuant to and within the limitations prescribed by said Local Bond Law.
Section 3. The improvements hereby authorized and the several purposes for the financing of which said obligations are to be issued, the appropriation made for and estimated cost of each such purpose, and the estimated maximum amount of bonds or notes to be issued for each such purpose, are respectively as follows:
| IMPROVEMENT OR PURPOSE |
APPROPRIATION AND ESTIMATED COST |
ESTIMATED MAXIMUM AMOUNT OF BONDS AND NOTES |
| (a) Improvement of facilities and property in and by the Township, including, without limitation, the Municipal Building by the installation of new floors, and various municipal parks, including Maple Grange Park and Veteran’s Park by the improvement of fields, the upgrade of the playgrounds and the rehabilitation of irrigation systems, together with for all the aforesaid all structures, site work, equipment, work and materials necessary therefor or incidental thereto, all as shown on and in accordance with the plans and specifications therefor on file or to be filed in the office of the Township Clerk and hereby approved |
$272,000 |
$259,000 |
(b) Acquisition by purchase of new and additional fire fighting apparatus for the preservation of life and property in the Township, including, without limitation, one (1) tanker truck for use by the Pochuck Valley Fire Department, together with all equipment, attachments and accessories necessary therefor or incidental thereto, all as shown on and in accordance with the specifications therefor on file or to be filed in the office of the Township Clerk and hereby approved |
366,300 |
348,850 |
(c) Acquisition by purchase and installation, as necessary, of new and additional equipment including, without limitation, office furnishings, twelve (12) mobile radios, ten (10) portable radios, and one (1) voice recorder and communication equipment for the Police Department of the Township, office furnishings for the Municipal Building of the Township, turn out gear, hoses and other equipment for use by the Volunteer Fire Departments, one (1) forklift, one (1) field groomer, one (1) water cannon and shop diagnostic equipment for use by the Department of Public Works of the Township, and three (3) storage trailers and computer equipment for use by various departments of the Township, together with for all the aforesaid all attachments, accessories, equipment, work and materials necessary therefor or incidental thereto, all as shown on and in accordance with the plans and specifications therefor on file or to be filed in the office of the Township Clerk and hereby approved |
246,500 |
234,700 |
(d) Acquisition by purchase of new and additional vehicular equipment, including, without limitation, one (1) plow with wing and sander and one (1) dump truck with plow for use by the Department of Public Works of the Township, one (1) utility vehicle for use by the Sign Department of the Township, one (1) utility vehicle for use by the Police Department of the Township, and one (1) first responder vehicle and mass casualty trailer for use by the Ambulance Squad of the Township, together with for all the aforesaid all equipment, attachments and accessories necessary therefor or incidental thereto, all as shown on and in accordance with the specifications therefor on file or to be filed in the office of the Township Clerk and hereby approved |
275,300 |
262,190 |
(e) Acquisition by purchase of land in and by the Township for public purposes, including open space purposes, said land being located on Sandhill Road being portions of those properties identified on the official tax map of the Township as Lots 1C and 1D in Block 184, consisting of approximately five (5) acres, together with any engineering and architectural studies associated with said improvement, all in accordance with the plans therefor on file or to be filed in the office of the Township Clerk and hereby approved, the said $149,500 hereby appropriated therefor being met in full from moneys hereby appropriated from the Open Space Trust Fund of the Township |
149,500 |
0 |
(f) Improvement of various streets, locations and properties in and by the Township by the construction, reconstruction or resurfacing thereof to provide roadway pavements at least equal in useful life or durability to a roadway pavement of Class B construction (as used or referred to in Section 40A:2-22 of said Local Bond Law) including, without limitation, Main Street, Maple Grange Road, Lounsberry Hollow Road, the Bike Path (Phases II and III), initial costs associated with the relocation of the Vernon Fire Department and various other roads and locations in the Township, together with all guard rails, structures, crack sealing, drainage improvements, equipment, work and materials necessary therefor or incidental thereto, all as shown and in accordance with the plans and specifications therefor on file or to be filed in the office of the Township Clerk and hereby approved, the said $2,321,900 hereby appropriated therefor being inclusive of the sums of $250,000 and $140,000 received or expected to be received by the Township from the New Jersey Department of Transportation, as grants in aid of financing said improvements to the Bike Path and Lounsberry Hollow Road, respectively |
2,130,900 |
2,047,700 |
(g) Improvement of various streets and locations in and by the Township by the construction, reconstruction or resurfacing thereof to provide roadway pavements at least equal in useful life or durability to a roadway pavement of Class B construction (as used or referred to in Section 40A:2-22 of said Local Bond Law), including, without limitation, Edsall Drive, Van Blarcom Court, Silver Fox Lane, Mayflower Way, Ekes Court, Pilz Court, Bucky Lane, Karen Road, Lisa Drive, Tralee Place, Callan Court, Tullow Drive, Tanglewood Drive, Bantry Court, Amisa Court, Hilary Court, White Birch Road, Lakeview, Orchard, Paradise Terrace, Blueberry Lane, Sunset, Grandway Terrace, Greentree Road, West Lakeview Road, Oakway Drive, Pleasant Valley Drive, Winding Hill Drive, Pine, Cherry Tree Road, Craig Street, Old Coach Road, Laurel Lane, Black Oak Drive, Black Oak Terrace, Butternut, Birch Road, Dogwood Terrace, Tulip Road, East Shore Drive, West Shore Drive, South Shore Drive and Valley View Road, including all structures, crack sealing, drainage improvements, equipment, work and materials necessary therefor or incidental thereto, all as shown on and in accordance with the plans and specifications therefor on file or to be filed in the office of the Township Clerk and hereby approved |
209,500 |
199,500 |
(h) Improvement of the storm water drainage system in and by the Township by the rehabilitation and upgrade of pipes, catch basins and other structures in and along various roads and locations, including all structures, sidewalk and curb reconstruction, road resurfacing, equipment, work and materials necessary therefor or incidental thereto, all as shown on and in accordance with the plans and specifications therefor on file or to be filed in the office of the Township Clerk and hereby approved
|
57,500 |
54,760 |
(i) Initial costs associated with the relocation of the Department of Public Works and Animal Control Building in and by the Township including land acquisition, engineering, design and architectural studies, all in accordance with the plans therefor on file or to be filed in the office of the Township Clerk and hereby approved |
392,500 |
373,800 |
Totals |
$4,100,000 |
$3,780,500 |
Except as otherwise stated in paragraph (e) of said Section 3, 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 therefor, as above stated, is the amount of the said down payment for said purpose.
Section 4. The following additional matters are hereby determined, declared, recited and stated:
(a) The said purposes described in Section 3 of this bond ordinance are not current expenses and each is a property or improvement which the Township may lawfully acquire or make as a general improvement, and no part of the cost thereof has been or shall be specially assessed on property specially benefited thereby.
(b) The average period of usefulness of said purposes within the limitations of said Local Bond Law and taking into consideration the respective amounts of the said obligations authorized for the several purposes, according to the reasonable life thereof computed from the date of the said bonds authorized by this bond ordinance, is 13.70 years.
(c) The supplemental debt statement required by said Local Bond Law has been duly made and filed in the office of the Township 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, and such statement shows that the gross debt of the Township as defined in said Local Bond Law is increased by the authorization of the bonds and notes provided for in this bond ordinance by $3,780,500, and the said obligations authorized by this bond ordinance will be within all debt limitations prescribed by said Local Bond Law.
(d) Amounts not exceeding $600,000 in the aggregate for interest on said obligations, costs of issuing said obligations, engineering costs and other items of expense listed in and permitted under Section 40A:2-20 of said Local Bond Law may be included as part of the costs of said improvements and are included in the foregoing estimate thereof.
(e) This bond ordinance authorizes $390,000 of obligations of the Township to be issued pending receipt of the said $390,000 grants from the New Jersey Department of Transportation and pursuant to section 40A:2-11(c) of said Local Bond Law no down payment is required for such obligations.
Section 5. The funds from time to time received by the Township on account of the $390,000 grants referred to in Section 1 of this bond ordinance shall be used for financing the improvement or purpose described in Section 3(f) of this bond ordinance by application thereof either to direct payment of the costs of said improvement or purpose, or to payment or reduction of the authorization of the obligations of the Township authorized by this bond ordinance. Any such funds so received may, and all such funds so received which are not required for direct payment of such costs shall, be held and applied by the Township as funds applicable only to the payment of obligations of the Township authorized by this bond ordinance.
Section 6. 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 the notes issued pursuant to this bond 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. 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 dates of delivery thereof. The Chief Financial Officer is directed to report in writing to the governing body of the Township at the meeting next succeeding the date when any sale or delivery of the notes pursuant to this bond ordinance is made. Such report must include the principal amount, interest rate and maturities of the notes sold, the price obtained and the name of the purchaser.
Section 7. The full faith and credit of the Township are hereby pledged to the punctual payment of the principal of and interest on the said obligations authorized by this bond ordinance. Said obligations shall be direct, unlimited obligations of the Township, and the Township shall be obligated to levy ad valorem taxes upon all the taxable property within the Township for the payment of said obligations and interest thereon without limitation of rate or amount.
Section 8. The capital budget or temporary capital budget of the Township is hereby amended to conform with the provisions of this ordinance to the extent of any inconsistency herewith and the resolutions promulgated by the Local Finance Board showing all detail of the amended capital budget or temporary capital budget and capital program as approved by the Director, Division of Local Government Services, are on file with the Township Clerk and are available for public inspection.
Section 9. This bond ordinance shall take effect twenty (20) days after the first publication thereof after final adoption, as provided by said Local Bond Law.
NOTICE
The bond ordinance published herewith has been finally adopted on June 26, 2006, and the 20-day period of limitation within which a suit, action 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.
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PATRICIA A. LYCOSKY, R.M.C.
TOWNSHIP CLERK |
