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Any disbursement checking accounts not specifically authorized by this resolution shall be considered null and void. All funds in said accounts shall be immediately transferred into the Current Fund account. Any individual attempting to establish or use an unauthorized account shall be subject to criminal prosecution as provided for by law and/or disciplinary action as provided by Administrative Code.
It is the policy of Jackson Township to maximize its investment earnings potential while preserving capital in secured investment programs authorized by the State of New Jersey’s Fiscal Affairs Law. The governing body of Jackson Township permits the Chief Financial Officer to:
Secure State and Local approved interest bearing checking funds protected through collateralized securities authorized by the Government Unit Depository Protection Act.
Promote a diverse authorized Investment program approved by the State of New Jersey as subject to market conditions through various bank and agency acquisitions to include:
Guaranteed bonds and obligations of the United States of America Government Money Market Funds
Any Federal Agency or Instrumentality authorized by Congress Jackson Township Board of Education Bonds or Obligations Obligations permitted by the Division of Investments Local Government Investment pools (E.g. NJ Class, NJ/ARM) New Jersey Cash Management Fund
Authorized Repurchase Agreements
All municipal investments will meet rigid State and local standards to protect Jackson Township’s taxpayers. Investments will be selected based upon a criterion to include guarantee as to the preservation of the principal, liquidity and maturity management to ensure cash conversion for needed municipal expenditures.
Certified copy of this resolution to the CFO.
JANICE KISTY, R.M.C.
TOWNSHIP CLERK
DATED: 4-13-2021
RESOLUTION 169R-21
TITLE: AMEND RESOLUTION NO. 072R-21 AUTHORIZING PURCHASES AND/OR SERVICES FROM APPROVED NEW JERSEY STATE CONTRACT VENDORS FOR CY 2021 TO ADD SHI INTERNATIONAL, AN AUTHORIZED DEALER FOR EMC CORPORATION IN THE AMOUNT OF $36,220.24
MOTION TO APPROVE BY: SAUICKIE
MOTION SECONDED BY: FLEMMING
YES: BORRELLI, SAUICKIE, FLEMMING, KERN
ABSENT: CHISHOLM
WHEREAS, the Township of Jackson, as a contracting unit may, without advertising for bids, purchase any materials, supplies, services or equipment under any contract or contracts entered into by the NJ Division of Purchase and Property in the Department of the Treasury, for such materials, supplies, services or equipment pursuant to N.J.S.A. 40A:11-12; and
WHEREAS, purchases/services made utilizing approved New Jersey State Contract Vendors meet the requirements of using a fair and open process; and
WHEREAS, the Township Council approved purchases/services from approved New Jersey State Contract Vendors for CY 2021 on January 12, 2021 by way of Resolution No. 072R-21; and
WHEREAS, the Purchasing Department is seeking approval to amend Resolution No. 072R-21 to include the following vendor for CY 2021 under the approved New Jersey State Contract Vendors, and further authorizing the purchase of four (4) Power Edge R74- servers for the Jackson Township Municipal Building: