Lambertville council introduces $1.1 million bond ordinance for capital improvements

The Lambertville City Council voted to introduce a bond ordinance authorizing approximately $1.1 million in capital improvements and $1,045,000 in bonds or notes, with a public hearing scheduled for June 26, 2025.

The mayor outlined line items in the proposed ordinance: police equipment and body-worn cameras (about $60,000), replacement vehicles including a $46,000 pickup and a $350,000 recycling truck, updates to courtroom technology (vendor estimates around $75,000), stormwater inlet retrofits required to meet NJDEP Tier A standards (about $225,000), stormwater mapping work ($15,000), stump grinding and tree replacement in the central business district ($40,000), and a FEMA mitigation floodgate project that the city expects to cover about 60% of through a grant.

Several council members supported introduction but asked for more information before final approval. One councilmember asked for a consolidated amortization schedule and a clear display of current bond maturities, citing Moodys reports and the need to understand long-term debt costs before adding new bonds. Another councilmember suggested consulting bond counsel and the citys financial adviser about how proceeds or land-sale receipts should be applied to existing debt.

A motion to introduce the ordinance carried; the chair noted a public hearing will be held on 06/26/2025 and that staff will provide the amortization schedule and additional financial documents before final action.

Ending: Council indicated it will obtain more detailed debt-service information, consult financial advisers and bond counsel, and proceed to a public hearing on June 26.