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South River adopts $950,000 bond ordinance to fund road work including Mercer, Lyons and Mitchell streets
Summary
The Borough Council adopted Bond Ordinance 2026-03 to fund $950,000 in road improvements, using a $582,753 NJDOT grant and issuing up to $253,500 in bonds and notes to cover the remainder.
The Borough of South River on March 2 adopted Bond Ordinance 2026-03 to fund improvements to various roads in the borough, including Mercer Street, Lyons Street and Mitchell Avenue. The ordinance appropriates $950,000 for the work and anticipates $582,753 in grant funding from the New Jersey Department of Transportation; bonds and notes of up to $253,500 were authorized to finance the remaining cost.
Council members waived a full reading of the ordinance and opened a public hearing; no members of the public spoke. The ordinance requires submission of design plans and authorizes the chief financial officer to issue bond anticipation notes and report back to the governing body when notes are sold. The ordinance also includes an estimated $190,000 for interest, issuance costs, engineering and legal fees and will take effect 20 days after first publication following final adoption.
