Council adopts $3.33 million bond ordinance for capital equipment and infrastructure

The Borough Council of Eatontown adopted Bond Ordinance 11-2026 on June 10, 2026, approving $3,325,748 in appropriations for a package of capital improvements and equipment across municipal departments and authorizing the issuance of up to $2,668,892 in bonds and notes to finance a portion of the costs. The ordinance lists projects ranging from Community Center parking repaving to DPW equipment, firefighting equipment and turnout gear, Police SUVs and protective equipment, park and drainage improvements, and infrastructure repairs. The ordinance includes anticipated grant funding ($161,370 from the Monmouth County Municipal Open Space Grant and $355,018 from NJDOT) and a $140,468 down payment.

Attorney Bayer read an objection submitted by absent Councilmember Maria Grazia Escalante: "Her vote for this Ordinance is No as she is not convinced borrowing is necessary for every item included. She would like further clarity and additional review." After the public hearing produced no public comments, councilmembers proceeded to a roll-call vote. The motion to adopt the bond ordinance was made by Councilmember Meir Araman, seconded by Council President Virginia M. East, and carried on roll call: AYE ' C/East, C/Araman, C/Jones, C/Lawson; C/Escalante and C/Faust were recorded as absent.

The ordinance spells out the scope of eligible uses, the maximum bond amount, and the borough's intent to pledge its full faith and credit for the obligations; it also allows for bond anticipation notes and sets forth reporting requirements for the sale of notes and issuance of obligations. Councilmembers indicated the ordinance will enable replacements and upgrades across emergency services, public works, parks, information technology and borough buildings.