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NOTICE IS HEREBY GIVEN that the foregoing Ordinance was introduced and passed on first reading at a regular meeting of the Township Council of the Township of Jackson, in the County of Ocean, State of New Jersey, held on May 12, 2009 will be considered for second reading and final passage at the regular meeting of said Governing Body to be held on the 9^{th} day of June 2009 at 7:30 P.M. or as soon thereafter as this matter can be reached, at the meeting room of the Municipal Building in said Township, at which time all persons interested shall be given an opportunity to be heard concerning this Ordinance.

Prior to the second reading, a copy of this Ordinance shall be posted on the Bulletin Board in the Municipal Building and copies shall be made available at the Township Clerk’s Office in said Municipal Building to members of the general public who shall request such copies.

DATED: 06/09/09

ANN MARIE EDEN, RMC TOWNSHIP CLERK

13-09

TITLE: CALENDAR YEAR 2009 ORDINANCE TO EXCEED THE MUNICIPAL BUDGET APPROPRIATION LIMITS ( N.J.S.A.. 40A: 4-45.14)

PUBLIC HEARING OPENED:

DAN GROSS – 18 POINTE CIRCLE could you explain this Cap Bank.

ADMINISTRATOR DEL TURCO stated the Cap Bank is established by the State it allows a provision for inflation; normally the state allows 21/2 percent and this permits a carry-over for next year to appropriate funds.

MOTION TO CLOSE PUBLIC HEARING BY: MARTIN MOTION SECONDED BY: RIVERE YES: MARTIN, TILIS, UPDEGRAVE, RIVERE & KAFTON

MOTION TO APPROVE ORDINANCE 13-09 ON SECOND READING, ADVERTISE THE APPROVAL AND NOTICE OF PASSAGE AND APPROVAL IN AN APPROVED NEWSPAPER AS REQUIRED BY LAW BY: RIVERE MOTION SECONDED BY: MARTIN YES: MARTIN, UPDEGRAVE, RIVERE NO: TILIS, KAFTON

ORDINANCE 13-09

CALENDAR YEAR 2009 ORDINANCE TO EXCEED THE MUNICIPAL BUDGET APPROPRIATION LIMITS ( 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 2.5% unless authorized by ordinance to increase it to 3.5% over the previous year's final appropriations, subject to certain exceptions; and,

WHEREAS, N.J.S.A. 40A: 4-45.15a provides that a municipality may, when authorized by ordinance, appropriate the difference between the amount of its actual final appropriation and the 3.5% percentage rate as an exception to its final appropriations in either of the next two succeeding years; and,