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Seaside Heights council adopts bond and loan measures to fund sewer and water projects
Summary
At its March 4 meeting the Seaside Heights Borough Council approved multiple financing measures, including ordinances and resolutions to pursue $3 million in general obligation bonds and a $6.4 million water improvements bond, and authorized loan agreements with the New Jersey Infrastructure Bank and New Jersey Water Bank.
Seaside Heights’ governing body on March 4 approved a slate of financing measures intended to fund sewer and water system projects and to enable sale of up to $3 million in general obligation bonds to the New Jersey Infrastructure Bank.
The council adopted Bond Ordinance 2026-04, which appropriates $3,000,000 for sanitary sewer improvements, and Bond Ordinance 2026-05, which appropriates $6,400,000 for water system improvements. Both ordinances were adopted with recorded roll-call approval by Mayor Vaz and council members in attendance; no public comment was recorded during the hearings.
Council members also listed and approved, as part of the evening’s resolutions, documents authorizing the form and sale of up to $3,000,000 in general obligation bonds (Resolution No. 26-103) and authorizing execution and delivery of loan agreements with the New Jersey Infrastructure Bank and the State of New Jersey through the Department of Environmental Protection and the Water Bank (Resolutions Nos. 26-104 and 26-105). Together, the measures enable the borough to use state financing programs for equipment procurement and capital improvements tied to its water and sewer systems.
The ordinances and resolutions were presented on the consent and ordinance calendars and passed by motions recorded in the minutes. The council gave final approval to Ordinance 2026-07 (zoning and land-use amendments) in the same meeting, and then voted to adopt the three bond ordinances; the votes on the bond ordinances were recorded in favor by Council Members Ferrone, Tompkins, Triano, Carbone, Smith and Graichen.
The measures position the borough to proceed with engineering and procurement steps tied to sanitary sewer and water system upgrades; officials indicated the loans would be executed with state programs but did not provide a construction timetable during the meeting. The council made no further public comment on project schedules at the March 4 session.
Votes at a glance - Ordinance 2026-07 (zoning and land-use amendments): adopted; motion by Rich Tompkins, second by Harry Smith; recorded approval by Ferrone, Tompkins, Triano, Carbone, Smith and Graichen. - Bond Ordinance 2026-04 (sanitary sewer improvements, $3,000,000): adopted; motion by Michael Carbone, second by Bob Triano; recorded approval by Ferrone, Tompkins, Triano, Carbone, Smith and Graichen. - Bond Ordinance 2026-05 (water system improvements, $6,400,000): adopted; motion by Harry Smith, second by Michael Carbone; recorded approval by Ferrone, Tompkins, Triano, Carbone, Smith and Graichen. - Bond Ordinance 2026-06 (zoning/land-use amendments): adopted; motion by Rich Tompkins, second by Michael Carbone; recorded approval by Ferrone, Tompkins, Triano, Carbone, Smith and Graichen.
The council did not schedule further public hearings on these financing items at the meeting. The ordinances’ adoption authorizes the borough to proceed toward sale of bonds and execution of state loan agreements; any final sale and contract awards will follow the borough’s procurement process and required state approvals.
