Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Capital Bond topic
No spam. Unsubscribe anytime.
North Haledon introduces $2.08 million bond ordinance for 2023 capital improvements including roadwork and recreation upgrades
Summary
Council introduced a bond ordinance appropriating $2,080,604 for 2023 capital projects — including Werner Avenue and other road and sidewalk work, pickleball courts, municipal building and library improvements — with $462,340 in expected NJDOT grant funding; final adoption was scheduled for March 15, 2023.
On Feb. 15 the North Haledon Borough Council introduced Ordinance #10-2023, a bond ordinance establishing the borough’s 2023 capital improvement program and authorizing the issuance of up to $1,513,128 in bonds or notes to finance part of a $2,080,604 appropriation.
The ordinance lists a $462,340 grant expected from the New Jersey Department of Transportation and a down payment of $105,136 (including $78,800 received from the Federal Emergency Management Agency allocated to the Werner Avenue project) as part of the funding plan. Projects enumerated in the ordinance include roadway improvements (Werner Avenue, Michelle Court, Grandview Drive, Peach Tree Lane, Crest Court, Cranberry Court, Squaw Brook Road and Saw Mill Road), sidewalk improvements on Linda Vista Avenue, drainage and manhole/water valve replacements, police and fire equipment, installation of pickleball courts at the recreation complex, roof and other building repairs including American Legion improvements, a library canopy, and information‑technology upgrades.
Council Member George Pomianek moved to pass the bond ordinance on first reading; Council Member Donna Puglisi seconded. The measure passed first reading and the council set a public hearing and final passage for the March 15, 2023 meeting at 7:30 p.m. The ordinance text specifies that final adoption requires the statutory notice and recorded vote and that a certified copy must be filed with the Director of the Division of Local Government Services.
The ordinance directs the borough CFO to manage note issuance and report sales to the governing body and contains standard covenant and reimbursement language consistent with municipal bond practice. Because the ordinance was introduced on first reading, the council did not take a final adoption vote on Feb. 15.
If adopted on final reading, the ordinance would: appropriate $2,080,604 for capital projects; authorize issuance of bonds/notes up to $1,513,128; apply a $462,340 NJDOT grant and $105,136 down payment; and authorize the borough to levy taxes to secure debt obligations as required by the Local Bond Law.
