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Boonton approves short‑term borrowing for TAP/Main Street work and a water bond sale to NJIB; remediation grant noted as 100% reimbursable
Summary
Council authorized up to $4.5 million in bond anticipation notes to provide cash flow for TAP/Main Street improvements, approved a $1.725 million water bond sale to the New Jersey Infrastructure Bank, and confirmed a $300,000 Jersey Plating remediation grant is expected to be 100% reimbursed.
The Boonton Town Council on May 4 approved several financing measures to support capital and remediation projects.
Resolution 26-124 authorizes issuance of not‑to‑exceed $4,500,000 bond anticipation notes (short‑term borrowing) to provide cash flow for town projects, including Main Street improvements tied to the TAP grant. Council…
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