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Seaside Park reports $2.345M BAN sale, announces new District 3 polling area and a planning-board appointment
Summary
Officials reported the sale of $2,345,000 in bond anticipation notes (4% interest, maturity 04/09/2027, purchaser Fidelity Capital Markets), announced South Seaside Park will vote in District 3 for upcoming elections, and the mayor named an alternate planning-board member to an unexpired two-year term.
At the Seaside Park work session on April 16, the borough reported a public sale of bond anticipation notes totaling $2,345,000 and made several administrative announcements affecting upcoming elections and a planning-board appointment.
Shannon read the statutory sale report under N.J.S.A. 48:2-28: principal amount $2,345,000; interest rate 4%; maturity date April 9, 2027; price obtained $2,371,146.75; purchaser Fidelity Capital Markets; net interest cost 2.885%. Shannon said the sale was made pursuant to previously granted ordinances listed in the record.
Staff announced that, following an emergency meeting of the county Board of Elections, the South Seaside Park section will be designated voting District 3 for the upcoming primary and general elections; residents will remain in Congressional District 2 and will be able to vote for Seaside Park municipal candidates. Council and election staff said they are preparing logistics for the polling location and encouraged residents to consult the borough website for posted notices.
The mayor also announced a mayoral appointment to the Planning Board for Alternate No. 1 to fill an unexpired two-year term that runs through the end of the year previously held by Joseph De Bosio.
Before moving to a closed executive session on potential litigation and contract negotiations, council members moved and approved a motion to close the public portion and enter executive session. The work session was then closed and the council moved into the borough's regular meeting.
