South River council introduces $2.92M bond ordinance to fund trucks, field, police and sewer work

The Borough of South River on June 8 introduced a bond ordinance that would authorize $2,921,000 for capital improvements and equipment across multiple departments. The ordinance funds a sanitation truck, police and fire equipment, improvements to Veterans Drive Athletic Field and a package of sewer system upgrades; it authorizes issuance of up to $1,805,000 in bonds to finance part of the cost.

Chief Financial Officer Joseph Zanga told the council the appropriation includes $1,020,738.85 in expected grant funds from the Middlesex County Open Space, Recreation and Farmland and Historic Preservation Trust Fund (MCTF) toward Veterans Drive work and a $95,261.15 down payment. The ordinance was introduced on first reading and set for second reading and final passage at the council’s June 29 meeting, when the public may comment.

If adopted, the ordinance would permit the sale of bond anticipation notes and bonds subject to Local Bond Law requirements; the CFO will report details of any note sales at the meeting following issuance. The ordinance text lists an estimated aggregate amount up to $556,000 for interest, issuance costs and professional fees. The council did not vote on final adoption at the June 8 meeting; the public hearing and final vote are scheduled for June 29.