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ORDINANCE 2013-15 Boardwalk Bond Amendment

ADOPTED: APRIL 23, 2013

BOND ORDINANCE TO AMEND SECTION 1 OF THE BOND ORDINANCE (ORD. NO. 2012-32) ENTITLED: "BOND ORDINANCE TO AUTHORIZE THE REPAIR AND REPLACEMENT OF APPROXIMATELY 400 FEET OF THE BOARDWALK LOCATED NORTH OF THE SOUTHERLY INTERSECTION OF TRENTON AVENUE AND THE BOARDWALK IN, BY AND FOR THE BOROUGH OF POINT PLEASANT BEACH, IN THE COUNTY OF OCEAN, STATE OF NEW JERSEY, TO APPROPRIATE THE SUM OF $565,000 TO PAY THE COST THEREOF, TO MAKE A DOWN PAYMENT, TO AUTHORIZE THE ISSUANCE OF BONDS TO FINANCE SUCH APPROPRIATION AND TO PROVIDE FOR THE ISSUANCE OF BOND ANTICIPATION NOTES IN ANTICIPATION OF THE ISSUANCE OF SUCH BONDS," ADOPTED ON OCTOBER 2, 2012.

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BE IT ORDAINED by the Borough Council of the Borough of Point Pleasant Beach, in the County of Ocean, State of New Jersey, as follows:
Section 1. Section 1 of Ordinance No. 2012-32 entitled:
"BOND ORDINANCE TO AUTHORIZE THE REPAIR AND REPLACEMENT OF APPROXIMATELY 400 FEET OF THE BOARDWALK LOCATED NORTH OF THE SOUTHERLY INTERSECTION OF TRENTON AVENUE AND THE BOARDWALK IN, BY AND FOR THE BOROUGH OF POINT PLEASANT BEACH, IN THE COUNTY OF OCEAN, STATE OF NEW JERSEY, TO APPROPRIATE THE SUM OF $565,000 TO PAY THE COST THEREOF, TO MAKE A DOWN PAYMENT, TO AUTHORIZE THE ISSUANCE OF BONDS TO FINANCE SUCH APPROPRIATION AND TO PROVIDE FOR THE ISSUANCE OF BOND ANTICIPATION NOTES IN ANTICIPATION OF THE ISSUANCE OF SUCH BONDS"

adopted by the Borough Council of the Borough of Point Pleasant Beach, in the County of Ocean, New Jersey (the "Borough") on October 2, 2012 (the "Prior Ordinance") is hereby amended to increase the length of the Boardwalk being repaired or replaced from 400 to 800 feet, and shall hereafter read as follows:
"Section 1. The Borough of Point Pleasant Beach, in the County of Ocean, State of New Jersey (the "Borough") is hereby authorized to repair and replace approximately 800 feet of the Boardwalk located north of the southerly intersection of Trenton Avenue and the Boardwalk in, by and for the Borough. Said improvement shall include all work, materials and appurtenances necessary and suitable therefor."
Section 2. The capital budget is hereby amended to conform with the provisions of this amendatory bond ordinance to the extent of any inconsistency therewith and the resolutions promulgated by the Local Finance Board showing full detail of the amended capital budget and capital program as approved by the Director, Division of Local Government Services, is on file with the Borough Clerk and is available for public inspection.
Section 3. This ordinance shall take effect twenty days after the first publication thereof after final passage.


NOTICE OF PENDING BOND ORDINANCE AND SUMMARY


The bond ordinance, the summary terms of which are included herein, was introduced and passed upon first reading at a meeting of the Borough Council of the Borough of Point Pleasant Beach, in the County of Ocean, State of New Jersey, on April 9, 2013. It will be further considered for final passage, after public hearing thereon, at a meeting of the Borough Council to be held at its meeting room in the Borough Hall, 416 New Jersey Avenue, Point Pleasant Beach, New Jersey, on April 23, 2013 at 7:30 P.M. During the week prior to and up to and including the date of such meeting copies of the full ordinance will be available at no cost and during regular business hours, at the Clerk's office for the members of the general public who shall request the same. The summary of the terms of such bond ordinance follows:

Title: ORDINANCE 2013-15

BOND ORDINANCE TO AMEND SECTION 1 OF THE BOND ORDINANCE (ORD. NO. 2012-32) ENTITLED: "BOND ORDINANCE TO AUTHORIZE THE REPAIR AND REPLACEMENT OF APPROXIMATELY 400 FEET OF THE BOARDWALK LOCATED NORTH OF THE SOUTHERLY INTERSECTION OF TRENTON AVENUE AND THE BOARDWALK IN, BY AND FOR THE BOROUGH OF POINT PLEASANT BEACH, IN THE COUNTY OF OCEAN, STATE OF NEW JERSEY, TO APPROPRIATE THE SUM OF $565,000 TO PAY THE COST THEREOF, TO MAKE A DOWN PAYMENT, TO AUTHORIZE THE ISSUANCE OF BONDS TO FINANCE SUCH APPROPRIATION AND TO PROVIDE FOR THE ISSUANCE OF BOND ANTICIPATION NOTES IN ANTICIPATION OF THE ISSUANCE OF SUCH BONDS," ADOPTED ON OCTOBER 2, 2012.

Purpose(s): Amend Section 1 of Bond Ordinance No. 2012-32 adopted on October 2, 2012 to increase the length of the Boardwalk being repaired or replaced from 400 to 800 feet.


This Notice is published pursuant to N.J.S.A. 40A:2-17.


Maryann Ellsworth, RMC
Borough Clerk
Borough of Point Pleasant Beach
County of Ocean
State of New Jersey


Published April16, 2013 | New Ordinances | 1575


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