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Camden County introduces open-space bond resolution, schedules June 19 public hearing
Summary
Camden County officials introduced resolutions authorizing county consent for up to $27 million in Camden County Improvement Authority open-space trust fund bonds and a separate bond order for $3,336,653 for Camden County College; public hearings were set for June 19, 2025 at the Camden County Courthouse.
Camden County officials on Thursday introduced resolutions that would let the Camden County Improvement Authority issue county-guaranteed open-space trust fund revenue bonds and bond anticipation notes with aggregate principal not to exceed $27,000,000 and introduced a bond order appropriating $3,336,653 for Camden County College.
The measures were presented by Director Cappelli, who told commissioners that public hearings on the items will be held on June 19, 2025, at 12 p.m. in the Camden County Courthouse meeting room at 520 Market Street. "Public hearings on both resolutions will be held on 06/19/2025 at the Camden County Courthouse, 520 Market Street, Sixth Floor, Meeting Room at 12 noon," Cappelli said.
The larger resolution would provide the county's consent to the issuance by the Camden County Improvement Authority of tax-exempt, county-guaranteed open-space trust fund revenue bond series 2025A and/or county-guaranteed open-space trust fund revenue bond anticipation note series 2025A in an aggregate principal amount not to exceed $27,000,000 to finance park improvements and related open-space projects in furtherance of the Camden County Open Space Recreation Farmland and Historic Preservation Trust Fund referendum.
A separate bond order introduced would appropriate $3,336,653 in bonds or notes of the county to finance specified improvements at Camden County College. The resolution text as read to the commission also references an amendment to the loan agreement between the county and the Improvement Authority and cites NJSA 40:37A-56 as the enabling statute for aspects of the financing.
Commissioner Dyer interjected during the reading but no formal vote on these introductions occurred during the caucus; the items were placed on the agenda for the June 19 public hearing, when the public and commissioners will have the opportunity to comment before any final action is taken.
Details not specified in the caucus reading include final bond documents, bond numbers, and the exact project-by-project breakdown of the $27,000,000 aggregate financing; all of that is expected to be discussed and recorded at the June 19 public hearings.
