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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: 27 -18
TITLE: AN ORDINANCE OF THE TOWNSHIP OF JACKSON, COUNTY OF OCEAN, STATE OF NEW JERSEY AUTHORIZING THE ACQUISITION OF A PORTION OF PERCHUK LANE ADJACENT TO BLOCK 17206 LOT 49 FROM VICTOR AND KATHLEEN SEVCENKO
PUBLIC HEARING OPENED:
NO ONE CAME FORWARD.
MOTION TO CLOSE PUBLIC HEARING ON ORDINANCE 27-18 BY: CALOGERO MOTION SECONDED BY: NIXON YES: CALOGERO, UPDEGRAVE, NIXON, BRESSI ABSENT: MARTIN
MOTION TO APPROVE ORDINANCE 27-18 ON SECOND READING, ADVERTISE THE NOTICE OF PASSAGE AND APPROVAL IN AN APPROVED NEWSPAPER AS REQUIRED BY LAW BY: UPDEGRAVE MOTION SECONDED BY: CALOGERO YES: CALOGERO, UPDEGRAVE, NIXON, BRESSI ABSENT: MARTIN
WHEREAS, Victor and Kathleen Sevcenko are the assessed owners of Block 17206, Lot 49 and the adjacent private lane known as Perchuk Lane and as shown on the Tax Map of the Township of Jackson; and
WHEREAS, Victor and Kathleen Sevcenko wish to dedicate that portion of Perchuk Lane to the Township of Jackson in order for it to become a public roadway and maintained by the Township; and
WHEREAS, N.J.S.A. 40A:12-5(a)(1) authorizes a municipality to accept property as a dedication by the adoption of an ordinance authorizing the acquisition of the same.
NOW, THEREFORE, 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. That the governing body does hereby accept the dedication of and authorizes the acquisition of the subject property known as Perchuk Lane located adjacent to Block 17206, Lot 49 on the Tax Map of the Township of Jackson. This property is being acquired by the Township of Jackson pursuant to N.J.S.A. 40A:12-