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North Haledon approves $56,000 bond ordinance to buy breathing air system for fire department
Summary
The council adopted Ordinance #17-2024, repealing and replacing a prior bond ordinance and authorizing up to $53,000 in bonds (total appropriation $56,000) to acquire a high-pressure breathing air system for the Fire Department.
On Aug. 21, 2024 the Borough Council adopted Ordinance #17-2024, which repealed and replaced the prior bond ordinance and appropriated $56,000 for acquisition of a high-pressure breathing air system for the North Haledon Fire Department. The ordinance authorizes issuance of bonds or notes in an aggregate principal amount not to exceed $53,000, with a $3,000 down payment specified in the ordinance.
The ordinance describes required compliance with the Local Bond Law, authorizes the Chief Financial Officer to determine note maturities and sale details, and pledges the full faith and credit of the Borough to the timely payment of principal and interest. The council opened and closed the public comment period with no speakers and approved the ordinance on second and final reading by unanimous roll call.
The provision also allows the Borough to apply any later grants or contributions to reduce the bond principal, and directs the Chief Financial Officer to prepare required disclosure and reporting documents associated with the sale of obligations.
