A Regular meeting of the Township Council of the Township of Old Bridge was held on March 25, 2002 in the Municipal Complex. The meeting was called to order by Vice-president Redmond who asked all present to participate in a salute to the flag which was followed by a short prayer.

Deputy Clerk Stella Ward announced that this meeting is being held in conformance with the open public meetings act, notice has been given to the newspaper and notice of the meeting has been posted in public places. The next meeting will be April 1 , 2002 at 8:00 p.m.

Roll call at 7:02 p.m. by Deputy Clerk Stella Ward, showed the following members present: Councilmen Baker, Calogera, Greene, Maher, Councilwoman Panos, Vice-president Redmond. Councilmen Testino and Hoff arrived late. President Butler was absent.

RESOLUTION TO GO INTO EXECUTIVE SESSION @ 7:05 p.m.

RESOLUTION #160-02

BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, New Jersey that:

that the public be excluded from this meeting pursuant to NJSA 10:4-13 for the discussion of the following matter or matters:

• Hovnanian
• Crystal Lake - Possible Litigation - Attorney Client Strategy
• Lambertson

BE IT FURTHER RESOLVED that this meeting shall reconvene in public session in fifty (50) minutes and that the minutes or other record of these discussions shall be available to be disclosed to the public in sixty (60) months unless a sooner date is determined by vote of the governing body at a public session.

Moved by Councilman Calogera, seconded by Councilman Baker and so ordered on the following roll call vote:

AYES: Councilmen Baker, Calogera, Greene, Maher, Councilwoman Panos, Vice President Redmond.

NAYS: None.

ABSENT: Councilmen Hoff, Testino, President Butler.

Meeting Reconvened at 8:10 p.m.

BILL LIST

RESOLUTION #161-02

BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, New Jersey that:

WHEREAS, the Business Administrator has the responsibility of approving all bills and vouchers subject to preaudit and control; and

WHEREAS, the Director of Finance is responsible for the preaudit, the disbursement of all monies and the control over all expenditures to ensure that the budget appropriations are not exceeded; and

WHEREAS, the Finance Committee of the Township Council has satisfied themselves in respect to the bill listing of March 25, 2002 that there exists a detailed bill or voucher supporting each payment and there is indication that goods or services have been received or rendered.

NOW, THEREFORE, BE IT RESOLVED by the Township Council of the Township of Old Bridge that the bill listing of March 25, 2002 as approved by the Business Administrator after preaudit and control by the Director of Finance and after review by the Finance Committee be spread on the minutes in the amount of $12,548,843.46 (General Fund).

Moved by Councilman Hoff, seconded by Councilman Baker and so ordered on the following roll call vote:

AYES: Councilmen Baker, Calogera, Greene, Hoff, Maher, Councilwoman Panos, Vice President Redmond.

NAYS: None.

ABSENT: Councilman Testino. President Butler.

BILL LIST

RESOLUTION #162-02

BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, New Jersey that:

WHEREAS, the Business Administrator has the responsibility of approving all bills and vouchers subject to preaudit and control; and

WHEREAS, the Director of Finance is responsible for the preaudit, the disbursement of all monies and the control over all expenditures to ensure that the budget appropriations are not exceeded; and

WHEREAS, the Finance Committee of the Township Council has satisfied themselves in respect to the bill listing of March 25, 2002 that there exists a detailed bill or voucher supporting each payment and there is indication that goods or services have been received or rendered.

NOW, THEREFORE, BE IT RESOLVED by the Township Council of the Township of Old Bridge that the bill listing of March 25, 2002 as approved by the Business Administrator after preaudit and control by the Director of Finance and after review by the Finance Committee be spread on the minutes in the amount of $695,609.95 (Payroll).

Moved by Councilman Hoff, seconded by Councilman Baker and so ordered on the following roll call vote:

AYES: Councilmen Baker, Calogera, Greene, Hoff, Maher, Councilwoman Panos, Vice President Redmond.

NAYS: None.

ABSENT: Councilman Testino. President Butler.

BILL LIST DENIED

RESOLUTION #163-02

WHEREAS, the Business Administrator has the responsibility of approving all bills and vouchers subject to preaudit and control; and

WHEREAS, the Director of Finance is responsible for the preaudit, the disbursement of all monies and the control over all expenditures to ensure that the budget appropriations are not exceeded; and

WHEREAS, the Finance Committee of the Township Council has satisfied themselves in respect to the bill listing of March 25, 2002 that there exists a detailed bill or voucher supporting each payment and there is indication that goods or services have been received or rendered.

NOW, THEREFORE, BE IT RESOLVED by the Township Council of the Township of Old Bridge that the bill listing of March 25, 2002 as approved by the Business Administrator after preaudit and control by the Director of Finance and after review by the Finance Committee be spread on the minutes in the amount of $31,825.09(Overtime).

Moved by Councilman Hoff, seconded by Councilman Baker and so denied on the following roll call vote:

AYES: Councilmen Baker, Testino, Vice President Redmond

NAYS: Calogera, Greene, Hoff, Maher, Councilwoman Panos.

ABSENT: President Butler.

Report of the Attorney

Attorney Ruggierio: Pursuant to Councilman Calogera's request to charge for the mass assembly, we have issued a report that states: It looks like you can charge a licensing fee, assuming that you can justify it, or you can come up with a novel approach to it and take it to the State Legislature, that seems to be the only two approaches you can take.

2. The Hovnanian negotiations led to an almost complete comprehensive settlement and I hope to have a written settlement before you shortly.

3. Raceway Park returned the signed agreement which will be appended to the permit that the Clerk issues for the mass assembly for the Harley Davidson event.

4. An April 5^th date has been set for trial in the Woodland Trails condemnation matter. This may slip if we get a late report from the adversary. At this point we are scheduled to have the three commissioners decide the value of the property on that date.

5. We have received a trial notice for May 13, 2002 in the Popek vs. Old Bridge case. This is a special compensation case.

6. We spent substantial time this week meeting and drafting the documents for the Penrose Properties project. I have drafts that I will be faxing them. I have asked the clerk to remove the resolution that were scheduled for tonight and have the council act on these Monday at our agenda meeting.

7. We have reached a tentative settlement of sorts, subject to council endorsement on the Lambertson Tract.

Councilman Redmond: There was a memo from the county attorney on the Olympia & York property about vacating a paper road. How long before you can have this prepared?

Attorney Ruggierio: This is relatively simple, it is an ordinance. I sent the letter to our engineering department to see if there were any issues relating to this vacation. I think that we can put it on the next agenda.

Vice President Redmond: They are anxious to get started on the park there.

Councilman Testino: I received your memo that we are scheduled for a meeting with Cablevision on May 16, 2002 at the offices of Administrative Law, it that a firm date?

Attorney Ruggierio: I think so.

Councilman Testino: Are all the issues that we discussed on the council still part of the litigation?

Attorney Ruggierio: The council passed an ordinance for the renewal and there were a number of conditions, I expect that the cable company will challenge some of those conditions. As I have told you before, they will win some of those issues. They will also lose the issue that they are most interested in; which is that they have a right to receive a modification of the terms of the franchise if competition is such that they are not on an equal footing with others who provide this type of programming, i.e.: that they do not have to allow for public access. This is the kind of case that cries out for a settlement.

Councilman Testino: Is the township ready to go with its case?

Attorney Ruggierio: I am ready to justify our position, as I have told you in the past, there may be elements that are supportable in an agreement but won't be before Cable TV. I haven't really worked up the case.

Councilman Testino: I miss Mr. Sohor being here because he was right on top of this. Have they paid the franchise fees that were in dispute?

Attorney Ruggierio: The provision that we put in was that we had the right to audit. I think that the administrative law judge will sustain that, and then we will see if we want to spend the money for the audit. I think that Mr. Shah said that there was a 15 or 20 thousand dollar difference.

Councilman Testino: We are three years into the process, if they get their license granted will those three years count against the license?

Attorney Ruggierio: Yes. We renewed it for five years.

Councilman Calogera: On the Penrose property is the 6.28 the amount per year? Or is it indexed anyway?

Attorney Ruggierio: It does not need to be indexed because the rents presumable increase. That is why in the housing and mortgage finance pilot that you have in front of you shows that you get 20%, 40% and 60% or something like that, it is graduated in that way that it will be the larger of that percentage or 6.28%.

Councilman Calogera: This is a privately owned profit making organization that will be running this, correct?

Attorney Ruggierio: Yes, they are a profit making entity but they will create a non-profit limited liability company, and they will be bound by the obligation contractually with the Housing Authority, the Department of Community Affairs and the Housing and Mortgage Finance Agency to keep the rents unusually low, so it will accommodate lower income senior citizens.

Councilman Calogera: So, there is some over sight in this?

Attorney Ruggierio: Yes.

Councilman Hoff: You referred in Executive Session to the Lambertson property as an acquisition and what we are really doing is condemnation. I am opposed to taking a land owners property because we need it. I do know how badly we need this property. I am opposed to this condemnation. I am going to urge you to keep negotiating.

Attorney Ruggierio: What I presented in Executive Session was an agreement that has been reached by the owners and township for the acquisition. I guess that we can count on you to vote yes on this because it is not a taking of the property.

MOTION

to accept the report of the attorney by Councilman Hoff, seconded by Councilman Greene and so ordered on the following roll call vote:

AYES: Councilmen Baker, Calogera, Greene, Hoff, Maher, Testino, Councilwoman Panos, Vice President Redmond.

NAYS: None.

ABSENT: President Butler.

Preliminary Public Comments

Joseph Dunn: I am a co-chairman of the rec. committee and also the chairman of a subcommittee for the proposed golf course. I understand that $600,000.00 was supposed to be allocated towards the golf course and I understand that it has been reallocated for something else. We are disappointed and we have been discussing this for three years and we have spent over $50,000.00 for two studies which both came back very positive. For this to once again to be delayed is troubling. What direction are we going with this? Why did we move the $600,000.00 allocation?

Vice-president Butler: The $600,000.00 was in the bonding and we reallocated that money because we don't own the property yet. We thought it was premature to spend the money until we owned the property. We have just put it off, we haven't canceled the golf course.

Mr. Dunn: We don't own the land for the pool and yet we are starting to move forward on that. I think that we spent $300,000.00 on that.

Gerald Haran: We have had two studies on the golf course, do we need another? Councilman Maher, when you were president, you ordered another study, has that come back yet?

Councilman Maher: We just got it back last week.

Mr. Haran: Are the results favorable?

Councilman Maher: For the first five years there is no money made. There is a certain profit shown in year five, we have asked the finance director to ask KPMG to find out what the discounted payback period is, when will we recoup all the money we laid out.

Mr. Shah: I received an e-mail today and forwarded to all the council. The e-mail from Peter Marwick indicated that if you did not count the land amortization, it is 14 years and if you do include it, it is 40 years. I plan on asking them for more details on how they arrive at the figures.

Councilman Maher: So the township wouldn't recoup their initial out lay for 40 years, if they operate the golf course.

Mr. Shah: Their indication was that if you include the amortization on the land it is 40 years. Remember that 50 or 75% of the land funds are a grant. Our cost is estimated to be $3,600,000.00. I am not sure how Pete Marwick is arriving at those numbers. I need further clarifications from them before I can give you a firm answer.

Councilman Maher: The golf course does not pay us back until 14 to 40 years.

Mr. Haran: That is hard for me to understand, if we use regular math, after 5 years this golf course is projected $250,000.00 a year in net revenue profits.

Mr. Shah: I don't have the report in front of me and I think after 3 years it was generating positive cash flow and after 5 years; including amortization of land it was about $300,000.00 return.

Mr. Haran: Has the land been appropriated?

Vice President Redmond: We are not stopping the golf course; we are just not spending the money on it.

Mr. Haran: I have been reading in the newspaper that the county wants to build one. If the county builds it, the land is coming from Perth Amboy. Does Perth Amboy pay taxes to Old Bridge on that land? How much do they pay? Let the light in, don't be afraid of the truth.

Gary Brown: I am not a golfer and I want to support the township building this golf course. It will preserve the land and will create a habitat for wildlife. I recognize the golf course as a very unique application of the land because there are limited golf resources in the center of the state. It would be a magnet and create tremendous revenue. I think that it will compete with private businesses already established in the towns and will not create uniqueness to the town.

Seeing no hands Vice-president Redmond closed the public portion.

Consent Agenda

Vice President Redmond: Why has the resolution for putting the O&Y property with a deed restriction on the open space list been removed from the agenda?

Deputy Clerk Ward: I never got a resolution from Legal, so you have nothing to vote on.

Attorney Ruggierio: I told the clerk before the meeting that as far as I knew that resolution was turned in, but it is exactly the same resolution as Mannino Park.

Vice President Redmond: Does Mannino Park come with a deed restriction? There is a committee that sits in Trenton and all you have to do is call them and say that you inadvertently added this to the open space inventory and they will take it off. If we put a deed restriction on it, they will know that we are serious.

Mayor Cannon: I was told that a deed restriction can be removed by resolution.

Vice President Redmond: I want this to be added to open space and I want a deed restriction, so it won't be taken off the open space list.

Attorney Ruggierio: I apologize to the clerk, I didn't realize that this was the deed restriction.

Vice President Redmond: I am curious, we had no problem putting the Mannino resolution on.

Mayor Cannon: You said that you wanted a deed restriction.

Vice President Redmond: I said that I wanted it combined. I want open space and a deed restriction.

Councilman Greene: At the last meeting we discussed this. If you put a piece of property on the open space inventory it means that its perpetually preserved as open space. There was an article in the newspaper where the government is rethinking a piece of property they put in open space. I don't know why we have to take a piece of property that we own and we acknowledge that we want to keep it as open space and we want to put it in the open space inventory. Why do we have to have this deed restriction, I think it is overkill.

Vice President Redmond: There is no resolution for either the restriction or open space.

Councilman Testino: Why can't we vote on it tonight?

Vice President Redmond: I want to vote on it tonight...

Mayor Cannon: Is this going into the township or county open space inventory?

Vice President Redmond: The township.

Mayor Cannon: Is it going to be owned by the county?

Vice President Redmond: I want a resolution to vote on tonight. I want to make sure that no one in five years calls Trenton and says that we made a mistake.

Councilman Testino: Let's vote on it tonight.

Vice President Redmond: Why was it taken off?

Attorney Ruggierio: I have no idea, we turned it in and here it is. The clerk was asking for the deed restriction resolution and now I understand, there was nothing nefarious.

Councilman Testino: Can we do the open space inventory and talk about the deed restriction next agenda?

AUTHORIZING BLOCK PARTY FOR YORK STREET

RESOLUTION #164-02

BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, New Jersey that:

WHEREAS, the residents of have requested permission to close York Street at the intersection of Adams Street and Pym Street for the purpose of a block party to be held on July 20, 2002 (rain date July 27)

NOW, THEREFORE, BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, New Jersey that permission is hereby granted to hold said block party contingent upon the following conditions. It is a requirement of this approval that you must submit a sign-off sheet of approval from all residents affected in this closing. This list must be delivered to the Clerk's office before Council approval.

It is a requirement of this approval that York Street be completely closed to vehicular traffic from the intersection of Adams Street and Pym Street. This closing must apply also to the residents' vehicles as well as other vehicles.

You will be responsible for making provision to have the roadway blocked, making sure that there is access for residents to enter and depart as they desire. It is also a requirement of this approval that a 12 foot clearance be maintained on each side of the fire hydrant and that amusement games are prohibited from being set up on the side of the street having the fire hydrant (food tables may be set up on the side of the street having a hydrant).

The party must end and the streets reopened to traffic and completely cleared of people, paraphernalia and debris by 10:00 p.m.

Moved by Councilman Maher, seconded by Councilman Baker and so ordered on the following roll call vote:

AYES: Councilmen Baker, Calogera, Greene, Hoff, Maher, Testino, Councilwoman Panos, Vice President Redmond.

NAYS: None.

ABSENT: President Butler.

RESOLUTION AUTHORIZING THE WAIVER OF TOPOGRAPHICAL MAP FEES

RESOLUTION #165-02

BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, New Jersey that:

BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, State of New Jersey that the fees for topographical maps be waived for Robert Lewicki; and

BE IT FURTHER RESOLVED that Robert Lewicki shall be required to execute an agreement approved by the Township Attorney which shall assure that the said maps will be utilized solely for the purpose of challenging a stream encroachment permit application filed with the New Jersey Department of Environmental Protection in connection with the Legacy Grand development and no other purpose. In the event the maps are used for any unauthorized purpose the full cost of the maps shall be paid.

Moved by Councilman Maher, seconded by Councilman Baker and so ordered on the following roll call vote:

AYES: Councilmen Baker, Calogera, Greene, Hoff, Maher, Testino, Councilwoman Panos, Vice President Redmond.

NAYS: None.

ABSENT: President Butler.

RESOLUTION FOR CALENDAR YEAR 2002 RECYCLING TONNAGE GRANT

RESOLUTION #166-02

BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, New Jersey that:

WHEREAS, the Township Council has been made aware that a Mandatory Source Separation and Recycling Act, P.L. 1987, C.102, has established a recycling fund from which tonnage grant may be made to municipalities in order to encourage local source separation and recycling programs; and

WHEREAS, it is the intent and the spirit of the Mandatory Source Separation and Recycling Act to use the tonnage grants to develop new municipal recycling programs and to continue and to expand existing programs; and

WHEREAS, the New Jersey Department of Environmental Protection is promulgating recycling regulations to implement the Mandatory Source Separation and Recycling Act; and

WHEREAS, a resolution authorizing the Township of Old Bridge to apply for such tonnage grants will memorialize the commitment of the Township to recycling and to indicate the assent of the Township of Old Bridge to the efforts undertaken by the municipality and the requirements contained in the Recycling Act and recycling regulations; and

WHEREAS, such a resolution should designate the individual authorized to ensure the application is properly completed and timely filed.

NOW, THEREFORE, BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, State of New Jersey that the Township Council hereby endorses the submission of the recycling tonnage grant application of 2002/2003 to The New Jersey Department of Environmental Protection and designates Cindy Bell, Recycling Coordinator, to ensure that the application is properly filed; and

BE IT FURTHER RESOLVED that the monies received from the recycling tonnage grant be deposited in a dedicated recycling trust fund to be used solely for the purposes of recycling.

Moved by Councilman Maher, seconded by Councilman Baker and so ordered on the following roll call vote:

AYES: Councilmen Baker, Calogera, Greene, Hoff, Maher, Testino, Councilwoman Panos, Vice President Redmond.

NAYS: None.

ABSENT: President Butler.

RESOLUTION AUTHORIZING ADDITION OF MANNINO PARK TO GREEN ACRES OPEN SPACE INVENTORY

RESOLUTION #167-02

BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, New Jersey that:

BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, State of New Jersey that the parcel of land known as Mannino Park should be hereinafter listed on the Green Acre Inventory.

Moved by Councilman Maher, seconded by Councilman Baker and so ordered on the following roll call vote:

AYES: Councilmen Baker, Calogera, Greene, Hoff, Maher, Testino, Councilwoman Panos, Vice President Redmond.

NAYS: None.

ABSENT: President Butler.

RESOLUTION AUTHORIZING ADDITION OF ENGLISHTOWN ROAD TO GREEN ACRES OPEN SPACE INVENTORY

RESOLUTION #167A-02

BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, New Jersey that:

BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, State of New Jersey that the parcel of land known as O&Y Property (Englishtown Road) should be hereinafter listed on the Green Acre Inventory. This resolution is intended to cover approximately three hundred (300) acres of land, the former site for market Senior Citizen project.

Moved by Councilman Maher, seconded by Councilman Baker and so ordered on the following roll call vote:

AYES: Councilmen Baker, Calogera, Greene, Hoff, Maher, Testino, Councilwoman Panos, Vice President Redmond.

NAYS: None.

ABSENT: President Butler.

RESOLUTION AUTHORIZING CANCELLATION OF CDBG MORTGAGE OF GEORGE AND ROSEANN CORBETT

RESOLUTION #168-02

WHEREAS, a Community Block Development Grant (CDBG) Mortgage was entered into by George J. and Roseann Corbett with the Township of Old Bridge for premises known as 213 Park Avenue, Old Bridge, New Jersey; and

WHEREAS, the amount of CDBG mortgage was for the amount of $24,1150.00; and

WHEREAS, the above-named individuals have paid the outstanding amount of the mortgage and are requesting cancellation of said mortgage.

NOW, THEREFORE, BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, State of New Jersey that the CDBG Mortgage in the amount of $24,115.00 is hereby canceled. The Township Council authorized the Mayor and Clerk to execute the discharge documents.

Moved by Councilman Maher, seconded by Councilman Baker and so ordered on the following roll call vote:

AYES: Councilmen Baker, Calogera, Greene, Hoff, Maher, Testino, Councilwoman Panos, Vice President Redmond.

NAYS: None.

ABSENT: President Butler.

MEMBER PARTICIPATION IN A COOPERATIVE PRICING SYSTEM

RESOLUTION #169-02

BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, New Jersey that:

WHEREAS, N.J.S.A. 40A:1-11(5) Authorized the Township of Old Bridge to enter into Cooperative Pricing Agreements; and

WHEREAS, a Cooperative Pricing Agreement will effect substantial economies in the purchase of services, materials and supplies; and

WHEREAS, the Township of Plainsboro, hereinafter referred to as the Lead Agency has offered voluntary participation in a Cooperative Pricing System for the purchase of services, materials and supplies; and

WHEREAS, the Township of Old Bridge, County of Middlesex, State of New Jersey, desires to participate in the Cooperative Pricing System of Mercer/Middlesex Counties.

NOW, THEREFORE, BE IT RESOLVED that the Township Council of the Township of Old Bridge wishes to join the Cooperative Pricing System of Mercer/Middlesex Counties pursuant to the provision of N.J.S.A. 40A:11-11(5) and that the Mayor and Township Clerk are hereby authorized to enter into a Cooperative Pricing Agreement with the County of Middlesex, which is attached hereto and made a part hereof.

Moved by Councilman Maher, seconded by Councilman Baker and so ordered on the following roll call vote:

AYES: Councilmen Baker, Calogera, Greene, Hoff, Maher, Testino, Councilwoman Panos, Vice President Redmond.

NAYS: None.

ABSENT: President Butler.

RESOLUTION FOR MEMBER PARTICIPATION IN A COOPERATIVE PRICING SYSTEM

RESOLUTION #170-02

BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, New Jersey that:

WHEREAS, N.J.S.A. 40A:11-11(5) authorizes contracting unites to establish a Cooperative Pricing System and to enter into Cooperative Pricing Agreements for its administration; and

WHEREAS, the County of Middlesex, hereinafter referred to as the "Lead Agency" has offered voluntary participation in a Cooperative Pricing System for the purchase of goods and services;

WHEREAS, on March 25, 2002 the governing body of the Township of Old Bridge, County of Middlesex, State of New Jersey duly considered participation in a Cooperative Pricing System for the provision and performance of goods and services;

NOW, THEREFORE BE IT RESOLVED as follows:

This Resolution shall be known and may be cited as the Cooperative Pricing Resolution of the Township of Old Bridge.

Pursuant to the provisions of N.J.S.A. 40A:11-11(5), the Business Administrator, Alayne M. Shepler, is hereby authorized to enter into a Cooperative Pricing Agreement with the Lead Agency.

The County of Middlesex shall be responsible for complying with the provisions off the Local Public Contracts Law (N.J.S.A. 40A:11-1 et seq.) and all other provisions of the revised statutes of the State of New Jersey.

This resolution shall take effect immediately upon passage.

Moved by Councilman Maher, seconded by Councilman Baker and so ordered on the following roll call vote:

AYES: Councilmen Baker, Calogera, Greene, Hoff, Maher, Testino, Councilwoman Panos, Vice President Redmond.

NAYS: None.

ABSENT: President Butler.

RESOLUTION MEMORIALIZING THE RELEASE OF PERFORMANCE GUARANTEE FOR RENAISSANCE CORPORATE CENTER (PHASE 1 BLDG. 2)

RESOLUTION #171-02

BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, New Jersey that:

WHEREAS, the developer of Renaissance Corporate Center, Building 2 Route 9 South, has requested a release of its performance guarantee; and

WHEREAS, the Township Engineer has recommended release of the Performance Guarantee for Renaissance Corporate Center; and

WHEREAS, the Township Engineer has performed an inspection of the site improvement works and find that these have been completed satisfactorily; and

WHEREAS, the Township Engineer recommends release of the Performance Guarantee as follows:

Performance Bond - $187,536.87

10% Cash Deposit - $20,837.43

Total $208,374.30

WHEREAS, release of the Performance Guarantee will be subject to the following:

• Posting of a Maintenance Bond for a two (2) year period in the amount of $31,256.15. (15% of the Performance Guarantee)

• Submission of "As Built" drawings.

NOW, THEREFORE, BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, State of New Jersey, that the request of Renaissance Corporate Center, Building 2, for a release of its cash performance guarantee is hereby granted.

Moved by Councilman Maher, seconded by Councilman Baker and so ordered on the following roll call vote:

AYES: Councilmen Baker, Calogera, Greene, Hoff, Maher, Testino, Councilwoman Panos, Vice President Redmond.

NAYS: None.

ABSENT: President Butler.

RESOLUTION REQUESTING MIDDLESEX COUNTY TO REEXAMINE THE DESIGN OF THE INTERSECTION OF COUNTY ROAD 516 AND BUSHNELL ROAD

RESOLUTION #172-02

BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, New Jersey that:

WHEREAS, Middlesex County has begun a road construction project to improve certain intersections on County Road 516; and

WHEREAS, the construction of the improvements to the intersection of County Road 516 and Bushnell Road are nearly complete; and

WHEREAS, the Township Council is concerned that the improvements as constructed are over designed and may not adequately meet the needs of the driving public, local businesses and residents of Old Bridge;

NOW THEREFORE, BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, State of New Jersey that the Township of Old Bridge requests that Middlesex County instruct the County Engineer to reexamine the design of the intersection of County Road 516 and Bushnell Road to determine if any additional changes in the design of the intersection can be made to further improve the safety and efficiency of the intersection; and

BE IT FURTHER RESOLVED that a copy of this resolution be sent to the Middlesex County Board of Chosen Freeholders.

Moved by Councilman Maher, seconded by Councilman Greene and so ordered on the following roll call vote:

AYES: Councilmen Baker, Calogera, Greene, Hoff, Maher, Councilwoman Panos, Vice President Redmond.

NAYS: None.

ABSENT: President Butler.

ABSTAIN: Councilman Testino.

Prior to the vote the following discussion took place

Councilman Maher: I would like to add the driving public to paragraph three.

EMERGENCY APPROPRIATION - DOWN PAYMENT FOR CEDAR RIDGE $200,000.00

RESOLUTION #173-02

BE IT RESOLVED by the Township Council of the Township of Old Bridge, County of Middlesex, New Jersey that:

WHEREAS, an emergency has arisen with respect to the Down Payment on the Purchase of Cedar Ridge, and no adequate provision was made in the SFY 2002 Budget for the aforesaid purpose, and N.J.S.A. 40A4-46 provides for the creation of an emergency appropriation for the purpose above mentioned; and

WHEREAS, the total amount of emergency appropriation created including the appropriation to be created by this resolution is $200,000.00.

NOW, THEREFORE, BE IT RESOLVED by the Township Council of the Township of Old Bridge that in accordance with N.J.S.A. 40A:4-48, an emergency appropriation be and the same is hereby made for the Down Payment of the Purchase of Cedar Ridge in the aggregate amount of $200,000.00 and that said emergency appropriation shall be provided in full in the SFY 2003 Budget.

BE IT FURTHER RESOLVED that three certified copies of this Resolution will be filed with the Director of Local Government Services.

Moved by Councilman Maher, seconded by Councilman Baker and so ordered on the following roll call vote:

AYES: Councilmen Baker, Greene, Maher, Testino, Councilwoman Panos, Vice President Redmond.

NAYS: Councilman Hoff.

ABSENT: President Butler.

ABSENT PODIUM: Councilman Calogera.

Prior to the vote the following discussion took place

Councilman Hoff: I have been opposed to this from the beginning and I will be voting no.

Vice-president Redmond opened the public portion.

Ms. Greenberg: I thought the price hasn't been agreed to yet.

Attorney Ruggierio: We are under a 90 day obligation to pay in the difference between 6.2 million and $13,660,000.00.

Mr. Shah: In order to amend the bond ordinance we need a 5% down payment and we need to appropriate this money.

Ms. Greenberg: This doesn't mean that you will necessarily pay the higher amount of the appraisals.

Attorney Ruggierio: These are the township appraisals, these aren't the appraisals from the other side, one was $12,700,000.00 and the other was $13,660,000.00. You cannot expect that the commissioners that are meeting on April 5^th will give a nickel less then the township's highest appraisals.

Ms. Greenberg: Why is there is such a difference in the appraisals, this is vacant land, there are no utilities. I think that you have the right to hear how he came up with this figure.

Attorney Ruggierio: There are two different appraisals. They are about a million dollars apart. I think that you are referring to the $5,200,000.00 that was determined in 1999. Since then there has been substantial appreciation to land values. In addition, this development was within a hair of getting an approval. Appraisals faced with those facts must consider the property as if it was an approved lot. Based on the discussions that I had with the Township Planner and Planning Attorney, this property would have received an approval for 139 lots. I know that many people want to say that is not true, but this is what our township experts were telling me and the appraisers.

Ms. Greenberg: I was at every meeting and I would have hired environmental engineers, foresters, there would not have been 139 approved lots. Please go back over the minutes. The town should not pay to the developer more than it is worth.

Attorney Ruggierio: That is not what Mr. Rizzo or Mr. Norman believe. These are the people that would be relied upon by the appraiser.

Ms. Greenberg: Regardless of what the professionals say it would also require a vote of the planning board. What did the appraiser compare these lots to?

Attorney Ruggierio: There are a number of comparable sale.

Ms. Greenberg: My property is next to this, so are you telling me that my property has increased that much in value. Should we all sell our property to developers and move out of Old Bridge. What will happen if this resolution is not passed?

Attorney Ruggierio: That would be big trouble, we would be in violation of some court order. We have already acquired the property so we have to pay for it.

Ms. Greenberg: I think that there should be an investigation of this appraisal. This developer still has problems with other developments in town, will that money be deducted from the price?

Gene Dunlop: The developer said his property is worth $14,000,000.00, is he being taxed on that?

Mayor Cannon: No. Some of it is assessed as farmland.

Attorney Ruggierio: The more important point is that the tax assessor cannot spot value a property, they can re-value the whole township.

Mr. Dunlop: Can he do this on this property?

Attorney Ruggierio: No, the State Legislature passed a law that doesn't allow him to do that anymore and this will become a problem in the future.

Mr. Dunlop: Now that it is has been appraised the tax assessor can look at that?

Attorney Ruggierio: Not unless the taxpayer sues us to get the taxes lower, we cannot do what you suggest.

Ms. Greenberg: What other property in Old Bridge has more than doubled in value? The 139 homes did not change from 1999 to 2000. I really think that there is a problem with the value of the property.

Gerald Cucchiara: What is the eventual cost of the property going to be?

Mr. Shah: $22,000,000.00.

Roman Sohor: I have been advocating the acquisition of this property for years and I am glad to see this finally coming to a close. The council needs to address the problem of developers that are holding undeveloped land in the township and are getting a free ride. The total assessed value of vacant land in the township is $110,000,000.00. If this little parcel of 200 acres has a value of $15,000,000.00 then the remaining vacant land that is being held by developers is severely undervalued.

Vice President Redmond: Is this the down payment of the $14,000,000.00 bond?

Mr. Shah: Yes. We are adding $8,000,000.00 to the previously approved 6.2 million bond. We are amending the bond ordinance.

Vice President Redmond: If we got $2,000,000.00 from the county and we got a million from Green Acres.....

Mr. Shah: One of the reasons that I need an approved $14,000,000.00 authorization, even though all these funding sources will be available is the we need to pay this money right now. We will get reimbursed. We have $2,000,000.00 but we have to borrow everything else.

Councilman Testino: I had asked last week that we move to get the other funding in so that we don't have to do the stop gap financing that long. We need to find out the status of the monies from the state and county. I would like this on the next agenda.

Seeing no hands Vice-president Redmond closed the public portion.

Ordinance for Second Reading

AN ORDINANCE OF THE TOWNSHIP OF OLD BRIDGE
ESTABLISHING A PARKING FEE FOR THE INVERNESS DRIVE COMMUTER PARKING LOT

BE IT ORDAINED by the Township Council of the Township of Old Bridge, County of Middlesex, State of New Jersey, as follows:

Section 1. Purpose

This ordinance establishes a $1.00 parking fee for the Old Bridge Township commuter parking lot located near the intersection of Inverness Drive and Route 9.

Section 2. Parking Fee

The Township of Old Bridge hereby establishes a daily parking fee of $1.00 per parking space at the Inverness Drive Commuter Parking Lot. The collection of parking fees shall not be instituted until the Mayor certifies the resurfacing of the commuter parking lot projected to occur in 2002 is complete.

Section 3. Inconsistent Ordinances.

All ordinances or parts of ordinances inconsistent with or in conflict with this ordinance are hereby repealed to the extent of such inconsistency.

Section 4. Partial Invalidity.

If any section, paragraph, clause or provision of this ordinance shall be adjudged invalid, such adjudication shall apply only to the section, paragraph, clause or provision so adjudged and the remainder shall be deemed valid and effective.

Section 5. Effective Date.

A. Except as set forth at subparagraphs B and C hereof, this Ordinance shall take effect on the earlier of the following dates: (1) on the date the Mayor affixes his/her signature thereto and returns same to the Municipal Council by delivering it to the Municipal Clerk pursuant to NJSA 40A:69A-41 or (2) on the tenth day following presentment to the Mayor of the Ordinance pursuant to NJSA 40A:69A-41 applicable when the Mayor has failed to return the Ordinance; whichever occurs first.

B. If the Mayor vetoes the Ordinance (in the manner set forth at NJSA 40A:69A-41), this Ordinance shall become effective upon the Township Council's vote to override the Mayor's veto.

C. Notwithstanding any other provision hereof, this Ordinance shall not take effect less than twenty (20) days after its final passage by the Council and approval by the Mayor, where such approval is required, unless the Council shall have also adopted a resolution declaring an emergency and at least two-thirds (2/3) of all the members of the Council vote in favor of such resolution.

Moved by Councilman Maher, seconded by Councilman Greene and so ordered on the following roll call vote:

AYES: Councilmen Baker, Greene, Hoff, Maher, Testino, Councilwoman Panos, Vice President Redmond.

NAYS: None.

ABSENT: President Butler.

ABSENT PODIUM: Councilman Calogera.

Prior to the vote the following discussion took place:

Councilman Testino: I thought that they had agreed to pay for the paving.

Mayor Cannon: Part of the agreement was that they were going to pave the parking lot but since we don't have a finished agreement, we are going to get started with the improvements.

Vice President Redmond: Hovnanian is going to pave this?

Mayor Cannon: Yes.

Councilman Testino: Will they pay us back?

Mayor Cannon: That is the understanding.

Mr. Vincenti: There is no infinitive agreement, we were negotiating up until this afternoon.

Attorney Ruggierio: It did not end on a happy note.

Councilman Testino: I would ask that this be put on the next agenda.

Vice-president Redmond opened the public portion.

Seeing no hands Vice-president Redmond closed the public portion.

Ordinance for Second Reading

BE IT ORDAINED by the Township Council of the Township of Old Bridge, County of Middlesex, State of New Jersey, as follows:

Section 1. Purpose

The purpose of this ordinance is to amend Ordinance 52-01 in order to set a fee for signs applicants are required to post to provide notice of a proposed development.

Section 2. Ordinance

Township of Old Bridge Ordinance No. 52-01 is amended as follows:

Section 4-3 of the Old Bridge Land Development Ordinance is amended to include Subsection M which shall state as follows:

M. Posting of Notice of Development Application

Upon the filing of an application for development, applicant shall post a sign upon the property which is the subject of the application. Such signs shall provide notice to the public that the property is the subject of a proposed subdivision, site plan, and/or variance application. The signs shall be obtained by the applicant from the Township of Old Bridge at the expense of the applicant. The fee for such signs shall be $150.00 per sign. Signs shall be posted in such a manner so that one sign is clearly visible from all the roadways which abut the subject property. Signs shall be posted within seven days of the filing of the application and shall not be removed until the application is approved, rejected or withdrawn.

Section 3. Inconsistent Ordinances.

All ordinances or parts of ordinances inconsistent with or in conflict with this ordinance are hereby repealed to the extent of such inconsistency

Section 4. Partial Invalidity.

If any section, paragraph, clause or provision of this ordinance shall be adjudged invalid, such adjudication shall apply only to the section, paragraph, clause or provision so adjudged and the remainder shall be deemed valid and effective.

Section 5. Effective Date.

A. Except as set forth at subparagraphs B and C hereof, this Ordinance shall take effect on the earlier of the following dates: (1) on the date the Mayor affixes his/her signature thereto and returns same to the Municipal Council by delivering it to the Municipal Clerk pursuant to NJSA 40A:69A-41 or (2) on the tenth day following presentment to the Mayor of the Ordinance pursuant to NJSA 40A:69A-41 applicable when the Mayor has failed to return the Ordinance; whichever occurs first.

B. If the Mayor vetoes the Ordinance (in the manner set forth at NJSA 40A:69A-41), this Ordinance shall become effective upon the Township Council's vote to override the Mayor's veto.

C. Notwithstanding any other provision hereof, this Ordinance shall not take effect less than twenty (20) days after its final passage by the Council and approval by the Mayor, where such approval is required, unless the Council shall have also adopted a resolution declaring an emergency and at least two-thirds (2/3) of all the members of the Council vote in favor of such resolution.

Moved by Councilwoman Panos, seconded by Councilman Baker and so ordered on the following roll call vote:

AYES: Councilmen Baker, Greene, Hoff, Maher, Testino, Councilwoman Panos, Vice President Redmond.

NAYS: None.

ABSENT: President Butler.

ABSENT PODIUM: Councilman Calogera.

Vice-president Redmond opened the public portion. Seeing no hands Vice-president Redmond closed the public portion.

Ordinance for Second Reading

BE IT ORDAINED by the Township Council of the Township of Old Bridge, County of Middlesex, State of New Jersey, as follows:

Section 1. Purpose

This ordinance establishes a new schedule of fees for the licensing of retail food establishments and also establishes a five ($5.00) dollar fee for certified copies of vital statistics.

Section 2. Retail Food Establishment Fees

Section 19-10.5 of the Code of the Township of Old Bridge is hereby deleted in its entirety and replaced with the following:

19-10.5 Fees. The following shall be the schedule of fees for each retail food establishment.

a. All persons required to be licensed pursuant to this subchapter shall pay an annual license fee as follows:

1. Restaurants

Seating Capacity Fee

1 - 49 $150.00
50 - 99 $250.00
100 or greater $350.00

2. Retail food stores other than restaurants

Square Feet Fee

0 - 2,500 $ 75.00
2,501 - 5,000 $150.00
5,001 - 7,500 $200.00
7,501 - 9,999 $250.00
10,000 or greater $350.00

3. Mobile Vendors

Units with food preparation $125.00

All food items pre-packaged $100.00

Ice Cream or Ices $100.00

b. Reinspection. There shall be a fifty ($50.00) dollar fee for each reinspection which is required as a result of an inspection rating other than satisfactory.

Section 3. Certified Copies of Vital Statistics

Chapter 19 of the Code of Old Bridge is amended to include the following subchapter.

19-14. Fees for certified copies of vital statistics. There shall be a fee of five ($5.00) dollars for certified copies of vital statistics.

Section 4. Inconsistent Ordinances.

All ordinances or parts of ordinances inconsistent with or in conflict with this ordinance are hereby repealed to the extent of such inconsistency.

Section 5 Partial Invalidity.

If any section, paragraph, clause or provision of this ordinance shall be adjudged invalid, such adjudication shall apply only to the section, paragraph, clause or provision so adjudged and the remainder shall be deemed valid and effective.

Section 6. Effective Date.

A. Except as set forth at subparagraphs B and C hereof, this Ordinance shall take effect on the earlier of the following dates: (1) on the date the Mayor affixes his/her signature thereto and returns same to the Municipal Council by delivering it to the Municipal Clerk pursuant to NJSA 40A:69A-41 or (2) on the tenth day following presentment to the Mayor of the Ordinance pursuant to NJSA 40A:69A-41 applicable when the Mayor has failed to return the Ordinance; whichever occurs first.

B. If the Mayor vetoes the Ordinance (in the manner set forth at NJSA 40A:69A-41), this Ordinance shall become effective upon the Township Council's vote to override the Mayor's veto.

C. Notwithstanding any other provision hereof, this Ordinance shall not take effect less than twenty (20) days after its final passage by the Council and approval by the Mayor, where such approval is required, unless the Council shall have also adopted a resolution declaring an emergency and at least two-thirds (2/3) of all the members of the Council vote in favor of such resolution.

Moved by Councilman Hoff, seconded by Councilman Greene and so ordered on the following roll call vote:

AYES: Councilmen Baker, Greene, Hoff, Maher, Testino, Councilwoman Panos, Vice President Redmond.

NAYS: None.

ABSENT: President Butler.

ABSENT PODIUM: Councilman Calogera.

Vice-president Redmond opened the public portion. Seeing no hands Vice-president Redmond closed the public portion.

Ordinance for Second Reading

BE IT ORDAINED by the Township Council of the Township of Old Bridge, County of Middlesex, State of New Jersey as follows:

Section 1. Purpose

This ordinance establishes the fees for the 2002 Summer Recess Program pursuant to the recommendation of the coordinator of the Before &After School Daycare program.

Section 2. Fees

A. Tuition fees for the Summer Recess Program (Grades K-5) shall be $950.00 per child.

B. Tuition fees for the Summer Recess program for middle school children (Grades 6-8) shall be $1,100 per child.

Section 3. Inconsistent Ordinances.

All ordinances or parts of ordinances inconsistent with or in conflict with this ordinance are hereby repealed to the extent of such inconsistency.

Section 4. Partial Invalidity.

If any section, paragraph, clause or provision of this ordinance shall be adjudged invalid, such adjudication shall apply only to the section, paragraph, clause or provision so adjudged and the remainder shall be deemed valid and effective.

Section 5. Effective Date.

A. Except as set forth at subparagraphs B and C hereof, this Ordinance shall take effect on the earlier of the following dates: (1) on the date the Mayor affixes his/her signature thereto and returns same to the Municipal Council by delivering it to the Municipal Clerk pursuant to NJSA 40A:69A-41 or (2) on the tenth day following presentment to the Mayor of the Ordinance pursuant to NJSA 40A:69A-41 applicable when the Mayor has failed to return the Ordinance; whichever occurs first.

B. If the Mayor vetoes the Ordinance (in the manner set forth at NJSA 40A:69A-41), this Ordinance shall become effective upon the Township Council's vote to override the Mayor's veto.

C. Notwithstanding any other provision hereof, this Ordinance shall not take effect less than twenty (20) days after its final passage by the Council and approval by the Mayor, where such approval is required, unless the Council shall have also adopted a resolution declaring an emergency and at least two-thirds (2/3) of all the members of the Council vote in favor of such resolution.

Moved by Councilman Hoff, seconded by Councilman Maher and so ordered on the following roll call vote:

AYES: Councilmen Baker, Greene, Hoff, Maher, Testino, Councilwoman Panos, Vice President Redmond.

NAYS: None.

ABSENT: President Butler.

ABSENT PODIUM: Councilman Calogera.

Councilman Testino: This is a successful program and I want to thank the administration and Mr. Shah for the numbers on this.

Vice-president Redmond opened the public portion. Seeing no hands Vice-president Redmond closed the public portion.

Ordinance for First Reading

TOWNSHIP OF OLD BRIDGE
ORDINANCE NO. 12-01

ORDINANCE AUTHORIZING COMPENSATION TO WARD COMMISSIONERS

WHEREAS, N.J.S.A. 40-44-12 authorizes the payment of compensation to ward commissioners;

BE IT ORDAINED by the Township Council of the Township of Old Bridge, County of Middlesex, State of New Jersey as follows:

Section 1: Purpose

This Ordinance authorizes the payment of compensation to ward commissioners for the performance of their duties with re-division of the Township of Old Bridge into wards.

Section 2: Ordinance

Ward commissioners shall be paid the sum of $750.00 each as compensation for the performance of their duties.

Section 3. Inconsistent Ordinances.

All ordinances or parts of ordinances inconsistent with or in conflict with this ordinance are hereby repealed to the extent of such inconsistency

Section 4. Partial Invalidity.

If any section, paragraph, clause or provision of this ordinance shall be adjudged invalid, such adjudication shall apply only to the section, paragraph, clause or provision so adjudged and the remainder shall be deemed valid and effective.

Section 5. Effective Date.

A. Except as set forth at subparagraphs B and C hereof, this Ordinance shall take effect on the earlier of the following dates: (1) on the date the Mayor affixes his/her signature thereto and returns same to the Municipal Council by delivering it to the Municipal Clerk pursuant to N.J.S.A. 40A:69A-41 or (2) on the tenth day following presentment to the Mayor of the Ordinance pursuant to N.J.S.A. 40A:69A-41 applicable when the Mayor has failed to return the Ordinance; whichever occurs first.

B. If the Mayor vetoes the Ordinance (in the manner set forth at N.J.S.A. 40A:69A-41), this Ordinance shall become effective upon the Township Council's vote to override the Mayor's veto.

C. Notwithstanding any other provision hereof, this Ordinance shall not take effect less than twenty (20) days after its final passage by the Council and approval by the Mayor, where such approval is required, unless the Council shall have also adopted a resolution declaring an emergency and at least two-thirds (2/3) of all the members of the Council vote in favor of such resolution.

Moved by Councilman Maher, seconded by Councilman Testino and so ordered on the following roll call vote:

AYES: Councilmen Baker, Greene, Hoff, Maher, Testino, Councilwoman Panos. Vice President Redmond.

NAYS: None.

ABSENT: President Butler.

ABSENT PODIUM: Councilman Calogera.

Ordinance for First Reading

TOWNSHIP OF OLD BRIDGE
ORDINANCE No. 13-02

ORDINANCE ACCEPTING STREET WITHIN THE CEDAR VIEW ESTATES DEVELOPMENT FOR USE AS PUBLIC ROADS

BE IT ORDAINED by the Township Council of the Township of Old Bridge, County of Middlesex, State of New Jersey as follows:

Section 1 Purpose

This Ordinance formally accepts the streets within the Cedar View Estates development for use as public roads and permits the enforcement of the traffic laws of New Jersey Statutes Title 39.

Section 2. Ordinance

The Township of Old Bridge formally accepts the following roads in their entirety for use as public roads: Shelly Road, Avery Drive, Karen Court, Amara Court, Jonathan Circle.

Section 3. Inconsistent Ordinances.

All ordinances or parts of ordinances inconsistent with or in conflict with this ordinance are hereby repealed to the extent of such inconsistency

Section 4. Partial Invalidity.

If any section, paragraph, clause or provision of this ordinance shall be adjudged invalid, such adjudication shall apply only to the section, paragraph, clause or provision so adjudged and the remainder shall be deemed valid and effective.

Section 5. Effective Date.

A. Except as set forth at subparagraphs B and C hereof, this Ordinance shall take effect on the earlier of the following dates: (1) on the date the Mayor affixes his/her signature thereto and returns same to the Municipal Council by delivering it to the Municipal Clerk pursuant to N.J.S.A. 40A:69A-41 or (2) on the tenth day following presentment to the Mayor of the Ordinance pursuant to N.J.S.A. 40A:69A-41 applicable when the Mayor has failed to return the Ordinance; whichever occurs first.

B. If the Mayor vetoes the Ordinance (in the manner set forth at N.J.S.A. 40A:69A-41), this Ordinance shall become effective upon the Township Council's vote to override the Mayor's veto.

C. Notwithstanding any other provision hereof, this Ordinance shall not take effect less than twenty (20) days after its final passage by the Council and approval by the Mayor, where such approval is required, unless the Council shall have also adopted a resolution declaring an emergency and at least two-thirds (2/3) of all the members of the Council vote in favor of such resolution.

Moved by Councilman Testino, seconded by Councilman Hoff and so ordered on the following roll call vote:

AYES: Councilmen Baker, Greene, Hoff, Maher, Testino, Councilwoman Panos. Vice President Redmond.

NAYS: None.

ABSENT: President Butler.

ABSENT PODIUM: Councilman Calogera.

Ordinance for First Reading

TOWNSHIP OF OLD BRIDGE, NEW JERSEY
ORDINANCE No. 14-02

BOND ORDINANCE AUTHORIZING THE COMPLETION OF VARIOUS ROAD AND RELATED IMPROVEMENTS IN THE TOWNSHIP OF OLD BRIDGE, COUNTY OF MIDDLESEX, NEW JERSEY; APPROPRIATING THE SUM OF $2,325,000 THEREFOR; AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OR BOND ANTICIPATION NOTES OF THE TOWNSHIP OF OLD BRIDGE, COUNTY OF MIDDLESEX, NEW JERSEY, IN THE AGGREGATE PRINCIPAL AMOUNT OF UP TO $2,200,000; MAKING CERTAIN DETERMINATIONS AND COVENANTS; AND AUTHORIZING CERTAIN RELATED ACTIONS IN CONNECTION WITH THE FOREGOING

BE IT ORDAINED by the Township Council of the Township of Old Bridge, County of Middlesex, New Jersey (not less than two-thirds of all the members thereof affirmatively concurring), pursuant to the provisions of the Local Bond Law, Chapter 169 of the Laws of 1960 of the State of New Jersey, as amended and supplemented ("Local Bond Law"), as follows:

Section 1. The purposes described in Section 7 hereof are hereby authorized as general improvements to be made or acquired by the Township of Old Bridge, County of Middlesex, New Jersey ("Township").

Section 2. It is hereby found, determined and declared as follows:

(a) the estimated amount to be raised by the Township from all sources for the purposes stated in Section 7 hereof is $2,325,000;

(b) the estimated amount of bonds or bond anticipation notes to be issued for the purposes stated in Section 7 hereof is $2,200,000;

(c) a down payment in the amount of $125,000 for the purposes stated in Section 7 hereof is currently available in accordance with the requirements of Section 11 of the Local Bond Law, N.J.S.A. 40A:2-11; and

Section 3. The sum of $2,200,000, to be raised by the issuance of bonds or bond anticipation notes, together with the sum of $125,000, which amount represents the required down payment, are hereby appropriated for the purposes stated in this bond ordinance ("Bond Ordinance").

Section 4. The issuance of negotiable bonds of the Township in an amount not to exceed $2,200,000 to finance the costs of the purposes described in Section 7 hereof is hereby authorized. Said bonds shall be sold in accordance with the requirements of the Local Bond Law.

Section 5. In order to temporarily finance the purposes described in Section 7 hereof, the issuance of bond anticipation notes of the Township in an amount not to exceed $2,200,000 is hereby authorized. Pursuant to the Local Bond Law, the Chief Financial Officer is hereby authorized to sell part or all of the bond anticipation notes from time to time at public or private sale and to deliver the same to the purchasers thereof upon receipt of payment of the purchase price plus accrued interest from their date to delivery thereof. The Chief Financial Officer is hereby directed to report in writing to the governing body at the meeting next succeeding the date when any sale or delivery of the bond anticipation notes pursuant to this Bond Ordinance is made. Such report must include the amount, the description, the interest rate and the maturity schedule of the bond anticipation notes sold, the price obtained and the name of the purchaser.

Section 6. The amount of the proceeds of the obligations authorized by this Bond Ordinance which may be used for the payment of interest on such obligations, accounting, engineering, legal fees and other items as provided in Section 20 of the Local Bond Law, N.J.S.A. 40A:2-20, shall not exceed the sum of $107,000.

Section 7. The improvements hereby authorized and the purposes for which said obligations are to be issued; the estimated costs of each said purpose; the amount of down payment for each said purpose; the maximum amount obligations to be issued for each said purpose and the period of usefulness of each said purpose within the limitations of the Local Bond Law are as follows:

Section 8. The average period of useful life of the several purposes for the financing of which this Bond Ordinance authorizes the issuance of bonds or bond anticipation notes, taking into consideration the respective amounts of bonds or bond anticipation notes authorized for said several purposes, is not less than 10.752 years.

Section 9. Grants or any other funds received from any governmental or private entity will be applied to the payment of or repayment of obligations issued to finance, the costs of improvements described in Section 7 above.

Section 10. The supplemental debt statement provided for in Section 10 of the Local Bond Law, N.J.S.A. 40A:2-10, was duly filed in the office of the Clerk prior to the passage of this Bond Ordinance on first reading and a complete executed duplicate original thereof has been filed in the Office of the Director of the Division of Local Government Services in the Department of Community Affairs of the State of New Jersey. The supplemental debt statement shows that the gross debt of the Township, as defined in Section 43 of the Local Bond Law, N.J.S.A. 40A:2-43, is increased by this Bond Ordinance by $2,200,000 and that the obligations authorized by this Bond Ordinance will be within all debt limitations prescribed by said Local Bond Law.

Section 11. The full faith and credit of the Township are irrevocably pledged to the punctual payment of the principal of and interest on the bonds or bond anticipation notes authorized by this Bond Ordinance, and to the extent payment is not otherwise provided, the Township shall levy ad valorem taxes on all taxable real property without limitation as to rate or amount for the payment thereof.

Section 12. The applicable Capital Budget of the Township is hereby amended to conform with the provisions of this Bond Ordinance to the extent of any inconsistency therewith, and the resolution promulgated by the Local Finance Board showing full detail of the amended applicable Capital Budget and Capital Program as approved by the Director of the Division of Local Government Services, is on file with the Clerk and available for inspection.

Section 13. The Township hereby declares its intent to reimburse itself from the proceeds of the bonds or bond anticipation notes authorized by this Bond Ordinance pursuant to Income Tax Regulation Section 1.150-2(e), promulgated under the Internal Revenue Code of 1986, as amended ("Code"), for "original expenditures", as defined in Income Tax Regulation Section 1.150-2(c)(2), made by the Township prior to the issuance of such bonds or bond anticipation notes.

Section 14. The Township hereby covenants as follows:

(a) it shall take all actions necessary to ensure that the interest paid on the bonds or bond anticipation notes authorized by the Bond Ordinance is exempt from the gross income of the owners thereof for federal income taxation purposes, and will not become a specific item of tax preference pursuant to Section 57(a)(5) of the Code;

(b) it will not make any use of the proceeds of the bonds or bond anticipation notes or do or suffer any other action that would cause the bonds or bond anticipation notes to be "arbitrage bonds" as such term is defined in Section 148(a) of the Code and the Regulations promulgated thereunder;

(c) it shall calculate or cause to be calculated and pay, when due, the rebatable arbitrage with respect to the "gross proceeds" (as such term is used in Section 148(f) of the Code) of the bonds or bond anticipation notes;

(d) it shall timely file with the Ogden, Utah Service Center of the Internal Revenue Service, such information report or reports as may be required by Sections 148(f) and 149(e) of the Code; and

(e) it shall take no action that would cause the bonds or bond anticipation notes to be "federally guaranteed" within the meaning of Section 149(b) of the Code.

Section 15. The improvements authorized hereby are not current expenses and are improvements that the Township may lawfully make. No part of the cost of the improvements authorized hereby has been or shall be specially assessed on any property specially benefited thereby.

Section 16. All ordinances, or parts of ordinances, inconsistent herewith are hereby repealed to the extent of such inconsistency.

Section 17. In accordance with the Local Bond Law, this Bond Ordinance shall take effect twenty (20) days after the first publication thereof after final passage.

Moved by Councilman Hoff, seconded by Councilman Testino and so ordered on the following roll call vote:

AYES: Councilmen Baker, Greene, Hoff, Maher, Testino, Councilwoman Panos. Vice President Redmond.

NAYS: None.

ABSENT: President Butler.

ABSENT PODIUM: Councilman Calogera.

Ordinance for First Reading

TOWNSHIP OF OLD BRIDGE, NEW JERSEY
ORDINANCE No 15-02

BOND ORDINANCE AUTHORIZING THE ACQUISITION OF VARIOUS PIECES OF CAPITAL EQUIPMENT FOR THE TOWNSHIP OF OLD BRIDGE, COUNTY OF MIDDLESEX, NEW JERSEY; APPROPRIATING THE SUM OF $211,000 THEREFOR; AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OR BOND ANTICIPATION NOTES OF THE TOWNSHIP OF OLD BRIDGE, COUNTY OF MIDDLESEX, NEW JERSEY, IN THE AGGREGATE PRINCIPAL AMOUNT OF UP TO $200,000 MAKING CERTAIN DETERMINATIONS AND COVENANTS; AND AUTHORIZING CERTAIN RELATED ACTIONS IN CONNECTION WITH THE FOREGOING

BE IT ORDAINED by the Township Council of the Township of Old Bridge, County of Middlesex, New Jersey (not less than two-thirds of all the members thereof affirmatively concurring), pursuant to the provisions of the Local Bond Law, Chapter 169 of the Laws of 1960 of the State of New Jersey, as amended and supplemented ("Local Bond Law"), as follows:

Section 1. The purposes described in Section 7 hereof are hereby authorized as general improvements to be made or acquired by the Township of Old Bridge, County of Middlesex, New Jersey ("Township").

Section 2. It is hereby found, determined and declared as follows:

(a) the estimated amount to be raised by the Township from all sources for the purposes stated in Section 7 hereof is $211,000;

(b) the estimated amount of bonds or bond anticipation notes to be issued for the purposes stated in Section 7 hereof is $200,000;

(c) a down payment in the amount of $11,000 for the purposes stated in Section 7 hereof is currently available in accordance with the requirements of Section 11 of the Local Bond Law, N.J.S.A. 40A:2-11; and

Section 3. The sum of $200,000, to be raised by the issuance of bonds or bond anticipation notes, together with the sum of $11,000, which amount represents the required down payment, are hereby appropriated for the purposes stated in this bond ordinance ("Bond Ordinance").

Section 4. The issuance of negotiable bonds of the Township in an amount not to exceed $200,000 to finance the costs of the purposes described in Section 7 hereof is hereby authorized. Said bonds shall be sold in accordance with the requirements of the Local Bond Law.

Section 5. In order to temporarily finance the purposes described in Section 7 hereof, the issuance of bond anticipation notes of the Township in an amount not to exceed $200,000 is hereby authorized. Pursuant to the Local Bond Law, the Chief Financial Officer is hereby authorized to sell part or all of the bond anticipation notes from time to time at public or private sale and to deliver the same to the purchasers thereof upon receipt of payment of the purchase price plus accrued interest from their date to delivery thereof. The Chief Financial Officer is hereby directed to report in writing to the governing body at the meeting next succeeding the date when any sale or delivery of the bond anticipation notes pursuant to this Bond Ordinance is made. Such report must include the amount, the description, the interest rate and the maturity schedule of the bond anticipation notes sold, the price obtained and the name of the purchaser.

Section 6. The amount of the proceeds of the obligations authorized by this Bond Ordinance which may be used for the payment of interest on such obligations, accounting, engineering, legal fees and other items as provided in Section 20 of the Local Bond Law, N.J.S.A. 40A:2-20, shall not exceed the sum of $15,000.

Section 7. The improvements hereby authorized and the purposes for which said obligations are to be issued; the estimated costs of each said purpose; the amount of down payment for each said purpose; the maximum amount obligations to be issued for each said purpose and the period of usefulness of each said purpose within the limitations of the Local Bond Law are as follows:

Section 8. The supplemental debt statement provided for in Section 10 of the Local Bond Law, N.J.S.A. 40A:2-10, was duly filed in the office of the Clerk prior to the passage of this Bond Ordinance on first reading and a complete executed duplicate original thereof has been filed in the Office of the Director of the Division of Local Government Services in the Department of Community Affairs of the State of New Jersey. The supplemental debt statement shows that the gross debt of the Township, as defined in Section 43 of the Local Bond Law, N.J.S.A. 40A:2-43, is increased by this Bond Ordinance by $200,000 and that the obligations authorized by this