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Paulsboro introduces cap-bank and bond ordinances to fund capital projects
Summary
On addendum the council introduced O.26.03 to exceed municipal appropriation limits (create a cap bank) and O.26.04, a bond ordinance authorizing up to $517,750 in bonds toward $545,000 of equipment and capital improvements; hearings are set for March 10, 2026.
The council introduced two financial ordinances on Feb. 10: O.26.03, which would permit the Borough to exceed municipal appropriation limits and establish a cap bank for 2026, and O.26.04, a bond ordinance appropriating $545,000 for capital equipment and improvements and authorizing the issuance of up to $517,750 in bonds or bond anticipation notes.
Council President Thomas moved and the council approved introduction of both ordinances; public hearings and second readings are scheduled for March 10, 2026. The ordinances are part of the Borough’s capital-planning work to fund public-works and park projects.
