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Section 7. Any grant or similar moneys from time to time received by the Township for the improvements or purposes described in Section 3 hereof, shall be applied either to direct payment of the cost of the improvements within the appropriation herein authorized or to payment of the obligations issued pursuant to this ordinance. The amount of obligations authorized but not issued hereunder shall be reduced to the extent that such funds are received and so used.
Section 8. The full faith and credit of the Township are hereby pledged to the punctual payment of the principal of and the interest on the obligations authorized by this bond ordinance. The obligations shall be direct, unlimited obligations of the Township, and, unless paid from other sources, the Township shall be obligated to levy ad valorem taxes upon all the taxable property within the Township for the payment of the obligations and the interest thereon without limitation as to rate or amount.
Section 9. This bond ordinance shall take effect twenty (20) days after the first publication thereof after final adoption, as provided by the Local Bond Law.
Date: _____
Mayor Michael Reina
ORDINANCE 41-11
TITLE: AN ORDINANCE OF THE TOWNSHIP OF JACKSON, COUNTY OF OCEAN, STATE OF NEW JERSEY VACATING ALL THE RIGHT, TITLE AND INTEREST OF THE PUBLIC IN BLOCK 22801 LOT 1.02 AND AUTHORIZING THE EXECUTION OF A QUITCLAIM DEED FOR BLOCK 19201 LOTS 5 AND 6
MOTION TO APPROVE ORDINANCE 41-11 ON FIRST READING, ADVERTISE THE APPROVAL, NOTICE OF SECOND READING AND PUBLIC HEARING TO BE HELD ON DECEMBER 13, 2011 BY: UPDEGRAVE MOTION SECONDED BY: RIVERE YES: RIVERE, UPDEGRAVE & BRESSI ABSENT: KAFTON & MARTIN
BE IT ORDAINED by the Mayor and Township Council of the Township of Jackson, County of Ocean, and State of New Jersey, as follows:
SECTION 1. Jackson Township retained a public interest in roads through a certain parcel of land conveyed by the Township to Michael Pack in July of 1951; and
SECTION 2. Pursuant to N.J.S.A. 40:67-19, the Township Council of the Township of Jackson hereby determines that the public interest will be better served by releasing the Township's interest in Block 22801 Lot 1.02; and
SECTION 3. There is hereby vacated, all the right, title and interest of the public from all public uses and purposes in certain lands known and designated as part of the Clayton Mining Tract; and
SECTION 4. Pursuant to N.J.S.A.40A:12-1, et seq. the Township has the power to privately convey any real property interest where issues of title, or any cloud thereon, are at issue in order to rectify same; and
SECTION 5. A search of title has revealed that the Township may have reserved interest in property identified as Block 19201 Lots 5 and 6 on the tax map of the Township of Jackson; and
SECTION 6. Ralph Clayton & Sons, a New Jersey partnership is the current owner of the lands; and
SECTION 7. In order to grant Ralph Clayton & Sons clear title to the Property without exceptions, the Township is willing to quitclaim whatever interest it may have in the Property to Ralph Clayton & Sons; and
SECTION 8. The Township has determined that it would serve a public purpose for it to convey to Ralph Clayton & Sons, by quitclaim deed, whatever residual interest the Township might have, if any, in and to the Property, so that it may enjoy clear title thereto, free of any record interest of the Township in and to the Property.
NOW, THEREFORE, BE IT ORDAINED by the Township Council of the Township of Jackson, County of Ocean, State of New Jersey, that:
The foregoing recitals be and hereby are, incorporated herein by reference as if set forth at length, and the Township be and hereby is authorized to quitclaim whatever interest it may have in the Property to Ralph Clayton & Sons to clear title to the Property. The Mayor is hereby