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2008
ANNUAL DEBT STATEMENT
AS REQUIRED BY N.J.S.A. 40A:2-40
Trenton, N.J. 08625-0803. The code numbers in brackets () are for Division of Local Government Services use only.
BONDS AND NOTES FOR SCHOOL PURPOSES
CY 2008
School District Other Than Regional School District
Issued by (Municipality (Type I (Municipality (Type II))Strike out one
1. Term Bonds(50111-00)
2. Serial Bonds
(a) Issued(50112-00)$111,570,000.00
(b) Authorized but not issued(50113-00)$973.00
3. TEMPORARY BONDS AND NOTES
(a) Issued(50114-00)
(b) Authorized but not issued(50115-00)
4. TOTAL OF ABOVE BONDS AND NOTES$111,570,973.00
REGIONAL SCHOOL DISTRICT:(50116-00)
5. Serial Bonds
(a) Issued(50117-00)$0.00
(h) Authorized but not issued(50118-00)$0.00
6. TEMPORARY BONDS AND NOTES
(a) Issued(50119-00)$0.00
(b) Authorized but not issued(50120-00)
7. TOTAL OF REGIONAL SCHOOL BONDS AND NOTES$0.00
7. TOTAL OF REGIONAL SCHOOL BONDS AND NOTES $0.00 (50121-00) N.J.S.A. 40A:2-43 reads in part as follows: "Gross debt of a municipality shall also include that amount of the total of all the bonds and notes issued and authorized but not issued by any school district including the area of the municipality, which results from the application to such a total of the ratio which the equalized valuation basis of the municipality bears to the sum of the equalized valuation basis of each municipality in any such school district."
N.J.S.A. 40A:2-43 reads in part as follows: "Gross debt of a municipality shall also include that amount of the total of all the bonds and notes issued and authorized but not issued by any school district including the area of the municipality, which results from the application to such a total of the ratio which the equalized valuation basis of the municipality bears to the sum of the equalized valuation basis of each municipality in any such school district."
COMPUTATION OF REGIONAL AND/ OR CONSOLIDATED SCHOOL DISTRICT DEBT
% OF VALUATIONS APPORTIONED TO EACH MUNICIPALITY APPORTIONMENT OF DEBT-DECEMBER 31, 2008
MunicipalityAverage Equalized Valuations%Serial Bonds IssuedTemp. Bonds-Notes IssuedAuthorized But Not Issued
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
0.000.00
$111,570,973.00 (50122-00)
Page Total
Page 2
DEDUCTIONS APPLICABLE TO BONDS AND NOTES FOR SCHOOL PURPOSES
Amounts held for the sole purpose of paying bonds and notes included on the opposite page (Items 1,2,3,5,6)
Sinking funds in hand for bonds shown as Line 1, page 2 of this statement but not in excess of such bonds. (50211-00)
Funds in hand in those cases where such funds cannot be diverted to purposes other than the payment of bonds and notes included in line 4, Page 2.
(50212-00)
3 Estimated proceeds of bonds and notes authorized but not issued where such proceeds will be used for the sole purpose of paying bonds and notes included in Line 4 Page2. (50213-00)
4.000% per centum of average of equalized valuations (50221-00) 287,834,222.09
as stated in Line 5, Page1 (50214-00)
Instructions re: Line 4. Use applicable per centum as follows: 2 1/2% Kindergarden or Grade 1 through Grade 6 3% Kindergarden or Grade 1 through Grade 8 3 1/2% Kindergarden or Grade 1 through Grade 9 4% Kindergarden or Grade 1 through Grade 12 Other (insert applicable description)
4.00% % (50222-00)
Additional State School Building Aid Bonds (N.J.S.A. 18A:58-33.4(d)). (50220-00) 6. Total (50215-00) $287,834,222.09
School Debt as shown by Line 4, Page2 (50216-00) $111,570,973.00
Deduction for schoo! Debt included in Line 4, Page 2 (smaller of Line 6 or 7).
Regional School debt as Shown by Line 7, Page2.
Page Total $111,570,973.00\n(50219-00)
Page 3
BONDS AND NOTES FOR SELF LIQUIDATING PURPOSES A. Water SYSTEM (insert Applicable Utility)
(503 1-00) $___
Terms Bonds
Serial bonds
Issued (503 2-00) $ \underline{\hspace{20}} 548,175.69
Authorized but not issued (503 3-00) $ \underline{\hspace{2cm}} 0.00
Refunding Bonds (N.J.S.A. 40A:2-52)
Refunding Bonds (NJ.S.A. 40A:2-52)
Issued
Authorized but not issued (503 5-00) $_____
Bond Anticipation Notes
Issued
(503 6-00) $ ___ 0.00
Authorized but not issued (503 7-00) $ \underline{\hspace{2cm}} 0.00
Capital Notes (N.J.S.A. 40A:2-8)
Capital Notes (NJ.SA 40A:2-8)
Issued
Authorized but not issued (503 9-00) $ ___
Other
Other
Issued
Issued
Authorized but not issued (503 1100) $ 7 Total $548,175.69 (503 0-00)
SYSTEM (insert Applicable Utility)
(503 1-00) $___
8 Terms Bonds
9 Serial bonds (a) Issued (503 2-00) $___
Authorized but not issued (503 3-00) $_____
10 Refunding Bonds (N.J.S.A. 40A:2-52) (a) Issued (503 4-00) $ ___
Authorized but not issued (503 5-00) $ ___
11 Bond anticipation notes (a) Issued (503 6-00) $_____
Authorized but not issued (503 7-00) $ ___
12 Capital Notes (N.J.S.A. 40A:2-8) (a) Issued (503 8-00) $ ___
Authorized but not issued (503 9-00) $ ___
13 Other (a) Issued
Issued (503 10-00) $ ___
Authorized but not issued (503 11-00) [4 Total0.00 (503 0-00)
WHICH MUNICIPALITY DERIVES REVENUE (state on a separate sheet in the manner stated above) Total $___
Page Total ___548,175.69 (50409-00)
DEDUCTIONS APPLICABLE TO BONDS AND NOTES FOR SELF-LIQUIDATING PURPOSES
A. Water ________ SYSTEM (insert Applicable Utility)
(a) Gross Water ________ System Debt (504 1-00)$548,175.69
(b) Less: Deficit(Capitaized at 5%)
(Line 9 or Line 11, Page 11)
$ 0.00 ________ times 20(504 2-00)0.00
(c) Deduction(504 3-00)$0.00
(d) Plus. Cash held to Pay Bonds and Notes included in 2(a) above(504 4-00)
(e) Total Deduction$ 0.00 ________
B. ________ SYSTEM (insert Applicable Utility)
(a) Gross ________ System Debt (504 1-00)$0.00 ________
(b) Less: Deficit(Capitaized at 5%)
(Line 20 or Line 22, Page 11)
$ ________ times 20(504 2-00)
(c) Deduction(504 3-00)
(d) Plus: Cash held to Pay Bonds and Notes included in 2(a) above(504 4-00)
(e) Total Deduction$ 0.00 ________
(5045-00)
NOTE-the deficit in revenues may be capitalized by either dividing such deficit by 05 or by multiplying such deficit by 20 as indicated above.
$0.00(50499.00)
Page Total
Page 5
OTHER BONDS NOTES AND LOANS
TERM BONDS (state purposes separately)
(1)___
(2)___
(3)___
(4)___
(5)___
(6)___
(7)___
(8)___ $___
Total Term Bonds
SERIAL BONDS (state purposes separately)
Issued
General Improvement Bond -Various Purposes- 11/15/96
General Improvement Bonds - Various Purposes- 12/01/01
General Improvement Bonds- Various Purposes- 12/01/03
Open Space Bonds-12/01/03
General Improvement Bonds -Various Purposes- I2/01/08
Open Space Bonds-12/01/08
(7)___
(8)___
(9)___
(10)___
(11)___
(12)___
(13)___
(14)___
(15)___
(16)___ 3,175,000.00
(17)___ ___ ___ ___ ___ ___6,120,000.00
Page 6
$ ___
$ ___
$___
$___
$___
$___
$ (50509-00)
3,175,000.00
6,120,000.00
5,031,000.00
4,468,000.00 _____16,102,000.00
$_____3,739,000.00
$___
$___
$___
$ ___
$___
$___
$ ___
$___
OTHER BONDS NOTES AND LOANS
3. SERIAL BONDS (Continued)
(a) Issued (18)___
(19)___
(20)___
$___
(21)___
(22)___
$ ___
(23)___
$___
(24)___
$___
(25)___
$ ___
(26)___
(27)___
(28)___
(29)___
$ ___
(30)___
$___
(31)___
(32)___
<div style="text-align: center;"><img src="imgs/img_in_image_box_8_1_692_95.jpg" alt="Image" width="95%" /></div> <div style="text-align: center;"><img src="imgs/img_in_image_box_14_38_678_129.jpg" alt="Image" width="92%" /></div>
(33)___
$___
Total Serial Bonds Issued
/ (38,635,000.00}{(50547-00)} $
(b) Authorized but not issued
(1)___
$___
(2)___
(3)___
$ ___
(4)___
$___
(5)___
$___
(6)___ $___
(7)___
$ ___
(8)___ $___
$ ___ .
(9)___
$___
(10)___ $___
$___
(11)___
$___
(12)___ $___
$___
(13)___
$___
(14)___ $___
Total Serial Bonds Authorized but not Issued
$ $0.00 (50564-00)
/38,635,000.00}{(50565-00)} $
OTHER BONDS AND NOTES
5. BOND ANTICIPATION NOTES (state purposes separately)
Issued
$
(2)___
___ ___ ___
(3)___
(4)___
____ ___ ___ ___
(5)___
___
(6)___
<div style="text-align: center;"><img src="imgs/img_in_image_box_18_1_664_89.jpg" alt="Image" width="93%" /></div> ## <div style="text-align: center;"><img src="imgs/img_in_image_box_20_78_660_98.jpg" alt="Image" width="92%" /></div>
(7)___
<div style="text-align: center;"><img src="imgs/img_in_image_box_19_1_671_89.jpg" alt="Image" width="94%" /></div> ## <div style="text-align: center;"><img src="imgs/img_in_image_box_10_76_663_105.jpg" alt="Image" width="94%" /></div>
(8)___
___
(9)___
___
(10)___
___
(11)___
<div style="text-align: center;"><img src="imgs/img_in_image_box_9_2_663_100.jpg" alt="Image" width="94%" /></div> ##
(12)___
(I3)___
<div style="text-align: center;"><img src="imgs/img_in_image_box_18_2_663_85.jpg" alt="Image" width="93%" /></div> ##
(14)___
___
(15)___
<div style="text-align: center;"><img src="imgs/img_in_image_box_18_1_671_81.jpg" alt="Image" width="94%" /></div> ## <div style="text-align: center;"><img src="imgs/img_in_image_box_21_68_660_88.jpg" alt="Image" width="92%" /></div>
(16)___
<div style="text-align: center;"><img src="imgs/img_in_image_box_0_5_168_694.jpg" alt="Image" width="52%" /></div> <div style="text-align: center;"><img src="imgs/img_in_image_box_144_2_316_673.jpg" alt="Image" width="54%" /></div>
(17)___
(18)___
(19)___
Bond Anticipation Notes Issued
0.00/((50625-00)) 250.00
Authorized but not issued
Ord. 16-00/10-02 Various Improvements _____ 250.00
Ord. 41-02 Various Improvements _____ _____ 200.00
Ord. 07-03/35-03 Various Improvements ___ 473.00
Ord. 35-05 Various Improvements _____
___12.00___
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(5)___
(6)___
(7)___
(8)___
(9)___
(10)___
Bond Anticipation Notes Authorized but not Issued $935.00 (50661-00)
$935.00 (50661-00)
_____935.00
OTHER BONDS, NOTES AND NOTES
7. MISCELLANEOUS BONDS AND NOTES (not including Tax Anticipation Notes, Emergency Notes, Special Emergency and Utility Revenue Notes)
Issued
Capital Notes (N J.S.A. 40A:2-8) (50711-00)
Bonds issued by another Public Body Guaranteed by the Municipality (50712-00)
Green Trust Loan (50713-00)
Infrastructure Trust (50714-00)
Miscellaneous Bonds and Notes Issued $ $0.00
Authorized but not issued
Miscellaneous Bonds and Notes Authorized but not Issued
Capital Notes (N.J.S.A. 40A:2-8) (50721-00)
Bonds issued by another Public Body Guaranteed by the Municipality (50722-00)
$0.00
$0.00
$0.00
8. Total Miscellaneous Bonds, Notes and Loans Issued and Authorized but not Issued $ $0.00
0.00/((50726-00))
Total of Pages 6, 7, 8, and 9
(38,635,935.00)/((50799-00))
Page 9
DEDUDUCTIONS APPLICABLE TO OTHER BONDS AND NOTES
Amounts held or to be held for the sole purpose of paying bonds and notes included on Pages 6, 7, 8, and 9.
Sinking funds in hand for term bonds shown on Line 2 on Page 6
$0.00 $ $ $ (50814-00)
(1)_____
(2)___
(3)___
Funds in hand (including proceeds of bonds and notes held to pay other bonds and notes), in those cases where such funds cannot be diverted to purposes other than the payment of bonds and notes included on Pages 6, 7, 8, and 9
(1)___
(2)___
(3)___
Estimated proceeds of bonds and notes authorized but not issued where such proceeds will be used for the sole purpose of paying bonds and notes included on Pages 6, 7, 8, and 9
(1)___
(2)___
(3)___
$ ___
$ $ ___
$ $ ___
0.00/((50824-00))
$0.00 $ $ $ (50834-00)
Accounts receivable from other public authorities applicable only to the payment of any part of the gross debt not otherwise deductible (1) Open Space Trust (40A:2-44h) (2) ___
Bonds authorized by another Public Body to be guaranteed by the municipality _____8,207,000.00 (50843-00)
Bonds issued and bonds authorized but not issued to meet cash grants-in-aid for housing authority, redevelopment agency or municipality acting as its local public agency[N.J.S.A. 55:14B-4.1(d)]
Bonds issued and bonds authorized but not issued - Capital projects for county colleges(N.J.S.A. 18A:64A-22.1 to N.J.S.A. 18A:64A-22.8)
Page Total
8,207,000.00
S phantom s; hline S hline 8,207,000.00; (50843-00)
0.00/((50844-00))
$ ___ (50848-00)
$ ___ (50851-00)
(8,207,000.00)/((50849-00))
(Set forth in the following form, the figures showing whether the self-liquidating utility(s) have supported themselves during fiscal year 2008
Utility (Insert Applicable Utility)
Total Cash Receipts from Fees, Rents or other Charges for Year (509 1-00)
Operating and Maintenance Cost (509 2-00)
Debt Service per Sewer Accounts (a) Interest (b) Notes (c) Serial Bonds (d) Sinking Fund Requirement 4. Debt Service per Current Budget (N.J.S.A. 40A:2-52) (509 3-00) (509 4-00) (509 5-00) (509 6-00)
Interest on
Refunding Bonds
Refunding Bonds
Anticipated Deficit in Dedicated
Assessment Budget (509 9-00)\n(510 0-00) $0.00
Total Debt Service
Total Deductions(Line 2 plus Line 6) (510 1-00)\n(510 2-00) $0.00
Excess in Revenues(Line 1 minus Line 7) (510 2-00) $0.00
Deficit in Revenues (Line 7 minus Line 1) (510 3-00) $0.00
Total Debt Service (Line 6) (510 4-00) $0.00
Deficit(smaller of Line 9 or Line 10) to Page 5 (510 5-00)
If Excess in Revenues (Line 8) all Utility Debt is Deductible
Utility (Insert Applicable Utility)
Total Cash Receipts from Fees, Rents or other Charges for Year (509 1-00) 0
Operating and Maintenance Cost (509 2-00) 0.00
Debt Service per Water Accounts
Interest (509 3-00) 0.00
Notes
Serial Bonds (509 4-00) 0.00
Sinking Fund Requirement (509 5-00) 0.00
Debt Service per Current Budget (N.J.S.A. 40A:2-52)
Interest on
Refunding Bonds (509 7-00)
Refunding Bonds (509 8-00)
Assessment Budget (509 9-00)
Anticipated Deficit in Dedicated
Total Debt Service (510 0-00)
Total Deductions(Line 13 plus Line 17) (510 1-00)
Excess in Revenues(Line 12 minus Line 18) (510 2-00)
Deficit in Revenues (Line 18 minus Line 12) (510 3-00)
Total Debt Service (Line 17) (510 4-00)
Deficit(smaller of Line 20 or Line 21) to Page 5 (510 5-00)
If Excess in Revenues (Line 19)all ___ Utility Debt is Deductible (If Municipality has other utilities or enterprises, additional pages are to be added to this statement.)
SPECIAL DEBT STATEMENT BORROWING POWER AVAILABLE UNDER N.J.S.A. 40A:2-7(f)
Balance of debt incurring capacity as of December 31, 2008 under N.J.S.A. 40:1-16(d)
(51100-00)
Obligations heretofore authorized during 2008 in excess of debt limitation and pursuant to
N.J.S.A. 40A:2-7 paragraph (d) (51101-00) ___
N.J.S.A. 40A:2-7 paragraph (f) (51102-00) ___
N.J.S.A. 40A:2-7 paragraph (g) (51103-00)___ Total (51104-00)___
Less 2008 authorizations repealed during 2008 (51105-00)___
Net authorizations during 2008
___
(51106-00) (51107-00)
Balance of debt incurring capacity December 31, 2008 under N.J.S.A. 40:1-16(d)
Director of the Division of Local Government Services of the Department of Community Affairs of the State of New Jersey, do hereby certify that I have compared this copy of an Annual Debt Statement of the above municipality or county with the original Annual Debt Statement filed in the Division of Local Government Services of the Department of Community Affairs of the State of New Jersey on 2-5-09 and that this is a true copy of said statement and of the whole thereof. In witness Whereof, I have hereunto set my hand as Director of the Division of Local Government Services of the Department of Community Affairs of the State of New Jersey this 37th day of February, 2009
In witness Whereof, I have hereunto set my hand as Director of the Division of Local Government Services of the Department of Community Affairs of the State of New Jersey this 34 day of February, 2009
0
Director
TOWN'S OFFICE JACKSON TIP
2009 FEB 11 A 11:42
Page 12