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ORDINANCE: 26-18 TITLE: BOND ORDINANCE PROVIDING FOR THE ACQUISITION OF A NEW RADIO SYSTEM, APPROPRIATING 6,509,000 THEREFOR AND AUTHORIZING THE ISSUANCE OF 6,183,550 BONDS AND NOTES TO FINANCE A PORTION OF THE COSTS THEREOF, AUTHORIZED IN AND BY THE TOWNSHIP OF JACKSON, IN THE COUNTY OF OCEAN, NEW JERSEY
PUBLIC HEARING OPENED:
NO ONE CAME FORWARD.
MOTION TO CLOSE PUBLIC HEARING ON ORDINANCE 26-18 BY: NIXON MOTION SECONDED BY: CALOGERO YES: CALOGERO, UPDEGRAVE, NIXON, BRESSI ABSENT: MARTIN
MOTION TO APPROVE ORDINANCE 26-18 ON SECOND READING, ADVERTISE THE NOTICE OF PASSAGE AND APPROVAL IN AN APPROVED NEWSPAPER AS REQUIRED BY LAW BY: NIXON MOTION SECONDED BY: CALOGERO YES: CALOGERO, MARTIN, UPDEGRAVE, NIXON, BRESSI ABSENT: MARTIN
BE IT ORDAINED by the TOWNSHIP COUNCIL OF THE TOWNSHIP OF JACKSON, IN THE COUNTY OF OCEAN, STATE OF NEW JERSEY (not less than two-thirds of all members thereof affirmatively concurring), AS FOLLOWS:
Section 1. The improvements described in Section 3 of this bond ordinance are hereby authorized as general improvements to be undertaken in and by the Township of Jackson, in the County of Ocean, New Jersey (the “Township”). For the improvements or purposes described in Section 3, there is hereby appropriated the sum of $6,509,000, said sum being inclusive of all appropriations heretofore made therefor, including the sum of $325,450 as the down payment for said purposes as required by the Local Bond Law, N.J.S.A. 40A:2-1 et seq. The down payment is now available by virtue of provision for down payment or for capital improvement purposes in the Capital Improvement Fund of one or more previously adopted budgets.
Section 2. In order to finance the costs of said improvements or purposes not provided for by the application of the down payment, negotiable bonds are hereby authorized to be issued in the principal amount not to exceed $6,183,550, pursuant to the Local Bond Law. In anticipation of the issuance of said bonds and to temporarily finance said improvements or purposes, negotiable bond anticipation notes are hereby authorized to be issued pursuant to and within the limitations prescribed by the Local Bond Law.
Section 3. (a) The improvements hereby authorized and the purposes for which the obligations are to be issued consist of the acquisition of a new radio system for the Township, including, but not limited to, the construction of two (2) radio towers with radio equipment shelters and emergency generators; the acquisition of infrastructure equipment for an existing third (3rd) radio tower site; and the purchase of over three hundred (300) mobile and portable radios, together with all purposes necessary, incidental or appurtenant thereto, all as shown on and in accordance with contracts, plans, specifications or requisitions therefor on file with or through the Township Clerk, as finally approved by the governing body of the Township.