AGENDA

LOCAL FINANCE BOARD

         DATE:  Wednesday, May 13, 2009                               LOCATION:   Department of Community Affairs

                                                                                                               Conference Room #129

                                                                                                               101 South Broad Street

                                                                                                               Trenton, New Jersey  08625-0803

          TIME:    9:00 AM

         

          I.           Roll Call

         

          II.          Certification of Public Notice

         

          III.         Local Finance Board

                       State - NJSA 40A:9-22

                       Local Government Ethics Law

         

IV.                  Applications:

 

      10:00 AM    CAP Waiver Requests

                          (See CAP Waiver Agenda)

 

**THE FOURTY-SEVEN (47) PENSION DEFERRALS REQUESTS WILL BE CONSIDERED ON CONSENT AGENDA**

        11:00 AM  Proposed Requests for Pension Deferrals

                         NJSA 43:15A-24(c)

                         NJSA 43:16A-15(9)

                          (See Pension Deferral Agenda)

                         

       11:15 AM Proposed Requests for Pension Deferrals

                       Manville Borough- Somerset                  Deferred               Billed                      

                       Police and Fire Retirement System       $234,723             $254,604

                       Public Employees Retirement System      87,465              109,209

 

       11:20 AM Haworth Borough- Bergen                                                                    

                       Police and Fire Retirement System       $124,888             $135,159

                       Public Employees Retirement System       44,514                 55,580

                                                                                                                               

       11:25 AM Plainsboro Township- Middlesex                                                          

                       Police and Fire Retirement System       $375,157             $406,010

                       Public Employees Retirement System     170,796                213,256

 

**THE FOLLOWING FOUR (4) APPLICATIONS WILL BE CONSIDERED ON CONSENT AGENDA**          

        11:30 AM  #1  Linwood City                           

                              Atlantic - NJSA 58:11B-9(a)

                              $875,000 Proposed Environmental Infrastructure Trust Loan Program

                              NJSA 40A:2-26(e)

                              $875,000 Proposed Non-Conforming Maturity Schedule

                              NJSA 40A:2-11(c)

                              $875,000 Proposed Waiver of Down Payment

 

Page 2 of 9

 

                        #2  Brigantine City                        

                              Atlantic - NJSA 58:11B-9(a)

                              $7,100,000 Proposed Environmental Infrastructure Trust Loan Program

                              NJSA 40A:2-26(e)

                              $7,100,000 Proposed Non-Conforming Maturity Schedule

                              NJSA 40A:2-11(c)

                              $7,100,000 Proposed Waiver of Down Payment

                        #3  Galloway Township                      

                              Atlantic - NJSA 58:11B-9(a)

                              $2,050,000 Proposed Environmental Infrastructure Trust Loan Program

                              NJSA 40A:2-26(e)

                              $2,050,000 Proposed Non-Conforming Maturity Schedule

                              NJSA 40A:2-11

                              $2,050,000 Proposed Waiver of Down Payment

                        #4  Linden City                            

                              Union - NJSA 58:11B-9(a)

                              $1,850,000 Proposed Environmental Infrastructure Trust Loan Program

                              NJSA 40A:2-26(e)

                              $1,850,000 Proposed Non-Conforming Maturity Schedule

                              NJSA 40A:2-11(c)

                              $1,850,000 Proposed Waiver of Down Payment

 

 

**THE FOLOWING ONE (1) APPLICATION WILL BE CONSIDERED ON CONSENT AGENDA**

              11:35 AM  Lakewood Township                      

                              Ocean - NJSA 40A:2-51

                              $4,250,000 Proposed Refunding Bond Ordinance

 

**THE FOLOWING ONE (1) APPLICATION WILL BE CONSIDERED ON CONSENT AGENDA**

              11:40 AM  Bridgewater-Raritan Board of Education 

                              Somerset - NJSA 18A:24-61.5(1)

                              $3,500,000 Proposed School Refunding Bonds

              11:45 AM  Morris County

                              Morris - NJSA 40A:2-26(e)

                              $48,000,000 Proposed Non-Conforming Maturity Schedule

              11:50 AM  Teaneck Township                       

                              (Judgment)

                              Bergen - NJSA 40A:2-51

                              $5,950,000 Proposed Refunding Bond Ordinance

              11:55 AM  Woodland Park Borough

                              Passaic - NJSA 40A:2-26(e)

                              $9,500,000 Proposed Non-Conforming Maturity Schedule

 

Page 3 of 9

              12:00 PM  Ridgefield Park Village                

                              (Tax Appeals)

                              Bergen - NJSA 40A:2-51

                              $1,870,000 Proposed Refunding Bond Ordinance

              12:05 PM  Somers Point City                      

                              Atlantic - NJSA 40A:2-26(e)

                              $7,220,000 Proposed Non-Conforming Maturity Schedule

              12:10 PM  Paulsboro Borough                       

                              (Tax Appeals)

                              Gloucester - NJSA 40A:2-51

                              $4,600,000 Proposed Refunding Bond Ordinance

              12:15 PM  West Deptford Township                 

                              Gloucester - NJSA 40A:2-51

                              $5,750,000 Proposed Refunding Bond Ordinance

                              NJSA 40A:2-7(d)

                              $5,750,000 Proposed Extension of Credit

              12:20 PM  Franklin Township Fire District #2  

                              Gloucester - NJSA 40A:5A-6

                              $200,000 Proposed Project Financing

              12:25 PM  Asbury Park City                       

                              Monmouth - NJSA 40A:3-4(e)

                              $6,405,000 Proposed Maturity Schedule

                                                 (Qualified Bond Act)

 

                               NJSA 40A:3-1

                              $1,065,000 Proposed Qualified Bond Ordinance         

              12:30 PM  Perth Amboy City                       

                              Middlesex - NJSA 40A:2-11(c)

                              $1,675,000 Proposed Waiver of Down Payment

                              NJSA 40A:3-1

                              $1,675,000 Proposed Qualified Bond Ordinance

              12:35 PM  Perth Amboy City                       

                              Middlesex - NJSA 40A:2-11(c)

                              $4,690,000 Proposed Waiver of Down Payment

                              NJSA 40A:3-1

                              $4,690,000 Proposed Qualified Bond Ordinance

              12:40 PM  Paterson City

                              (Construction of a Fire House)

                              Passaic - NJSA 40A:3-1

                              $3,200,000 Proposed Qualified Bond Ordinance

                              (General Improvement Bonds)

                              NJSA 40A:3-1

                              $23,294,000 Proposed Qualified Bond Ordinance

 

Page 4 of 9

 

              12:45 PM  Plainfield Municipal Utilities Authority

                              (Sewer & Solid Waste Revenue Refunding Bonds)

                              Union - NJSA 40A:5A-6

                              $12,500,000 Proposed Project Financing

              12:50 PM  Bayonne City                           

                              Hudson - NJSA 40A:2-26(e)

                              $67,625,000 Proposed Non-Conforming Maturity Schedule

                              NJSA 40A:3-4(e)

                              $67,625,000 Proposed Maturity Schedule

                                                   (Qualified Bond Act)

 

              12:55 PM  Bayonne City

                              Hudson –NJSA 52:27BB-87

                              Proposed Approval of Municipal Budget

                1:00 PM  Bergen County Improvement Authority

                              (Guaranteed Loan Revenue Bonds)

                               Bergen - NJSA 40A:5A-6

                              $20,584,000 Proposed Project Financing

                              NJSA 40A:5A-6

                              $30,700,000 Proposed County Guarantee

                                                  ($20,584,000 Project Financing)

                              Edgewater Borough                      

                              Bergen - NJSA 40A:2-26(e)

                              $4,884,000 Proposed Non-Conforming Maturity Schedule

                             

                              NJSA 40A:2-51

                              $2,800,000 Proposed Refunding Bond Ordinance

                              Fairview Borough                       

                              Bergen - NJSA 40A:2-51

                              $2,850,000 Proposed Refunding Bond Ordinance

                              Haworth Borough Board of Education     

                              Bergen - NJSA 18A:24-61.5(1)

                              $2,950,000 Proposed School Refunding Bonds

                              Little Ferry Borough                   

                              Bergen - NJSA 40A:2-51

                              $1,820,000 Proposed Refunding Bond Ordinance

                              Ridgefield Park Village                 

                              Bergen - NJSA 40A:2-51

                              $2,650,000 Proposed Refunding Bond Ordinance

                              Upper Saddle River Borough             

                              Bergen - NJSA 40A:2-51

                              $2,550,000 Proposed Refunding Bond Ordinance

 

 

Page 5 of 9

 

                1:05 PM  Old Business

                              Ocean County Utilities Authority       

                              Ocean - NJSA 58:11B-9(a)

                              $16,000,000 Proposed Environmental Infrastructure Trust Loan Program

                              NJSA 40A:5A-6

                              $16,000,000 Proposed Project Financing                          

                              NJSA 58:11B-9(a)

                              $28,000,000 Proposed Environmental Infrastructure Trust Loan Program

                              NJSA 40A:5A-6

                              $28,000,000 Proposed Project Financing

                1:10 PM  Lakewood Township                      

                              Ocean - NJSA 40A:5A-20

                              Proposed Dissolution of Airport Authority

 

                1:15 PM  Hamilton Township

                              Mercer – NJSA 52:27BB-91

                              Proposed Termination of Supervision

 

                

                                                 Patricia Parkin McNamara

                                                 Executive Secretary

                                                 Local Finance Board

All visitors to the Department of Community Affairs Building are required to show picture identification for admittance into the Building.

Scheduled times are approximate, please arrive 30 minutes prior to your listed time.

          Representatives of the News Media with a desire for further information regarding this

          Agenda, please follow DCA policy and contact the Department of Community Affairs Public

          Information Officer at (609) 292-6055.

 

 

                                                                                                                             May 13, 2009

 

Consent Agenda Items

(Pension Deferrals)

 

 

Aberdeen Township- Monmouth                                                 Deferred                                         Billed

    Police and Fire Retirement System                                           302,112                               326,958

    Public Employees Retirement System                                       104,869                               130,940

                                                                                                                                

Audubon Borough- Camden                                                                                   

    Police and Fire Retirement System                                           162,976                               176,379

    Public Employees Retirement System                                         55,985                                 69,903

 

Page 6 of 9

 

                                                                                                                               

Bloomfield Township- Essex                                                                                  

    Police and Fire Retirement System                                        2,155,830                             2,333,124

    Public Employees Retirement System                                       286,406                               357,607

                                                                                                                               

Brielle Borough- Monmouth                                                                                   

    Police and Fire Retirement System                                           162,867                               176,261

    Public Employees Retirement System                                         46,167                                 57,644

                                                                                                                               

Brooklawn Borough- Camden                                                                                

    Police and Fire Retirement System                                             39,254                                 42,482

    Public Employees Retirement System                                         21,809                                 27,231

                                                                                                                               

Buena Borough- Atlantic                                                                                        

    Police and Fire Retirement System                                             45,361                                 49,091

    Public Employees Retirement System                                         28,444                                 35,515

                                                                                                                               

Chesilhurst Borough- Camden                                                                                

    Police and Fire Retirement System                                             53,887                                 58,319

    Public Employees Retirement System                                           9,758                                12,184

                                                                                                                               

Cinnaminson Township- Burlington                                                                       

    Police and Fire Retirement System                                           413,124                               447,099

    Public Employees Retirement System                                         81,618                               101,908

                                                                                                                               

East Hanover Township- Morris                                                                              

    Police and Fire Retirement System                                          398,139                               430,882

    Public Employees Retirement System                                       173,445                               216,564

                                                                                                                               

East Newark Borough- Hudson                                                                               

    Police and Fire Retirement System                                             44,919                                 48,613

    Public Employees Retirement System                                           5,453                                  6,809

                                                                                                                               

Egg Harbor Township- Atlantic                                                                               

    Police and Fire Retirement System                                           784,766                               849,305

    Public Employees Retirement System                                       215,040                               268,500

                                                                                                                               

Emerson Borough- Bergen                                                                                     

    Police and Fire Retirement System                                           219,811                               237,888

    Public Employees Retirement System                                         56,615                                 70,690

                                                                                                                               

Englewood Cliffs Borough- Bergen                                                                        

    Police and Fire Retirement System                                           384,247                               415,847

    Public Employees Retirement System                                         51,994                                 64,920

                                                                                                                               

Fanwood Borough- Union                                                                                      

    Police and Fire Retirement System                                           181,641                               196,579

    Public Employees Retirement System                                         51,598                                 64,425

                                                                                                                               

Garwood Borough- Union                                                                                       

    Police and Fire Retirement System                                           149,221                               161,493

    Public Employees Retirement System                                         37,865                                 47,278

 

 

 

 

Page 7 of 9

 

                                                                                                                               

Glen Ridge Borough- Essex                                                                                    

    Police and Fire Retirement System                                           238,021                               257,596

    Public Employees Retirement System                                         70,292                                 87,767

                                                                                                                               

Gloucester City- Camden                                                                                        

    Police and Fire Retirement System                                           470,777                               509,493

    Public Employees Retirement System                                       116,261                               145,164

                                                                                                                               

Hightstown Borough- Mercer                                                                                  

    Police and Fire Retirement System                                           128,160                               138,700

    Public Employees Retirement System                                         73,533                                 91,814

                                                                                                                               

Holmdel Township- Monmouth                                                                               

    Police and Fire Retirement System                                           459,184                               496,947

    Public Employees Retirement System                                       129,693                               161,935

                                                                                                                               

Lacey Township- Ocean                                                                                         

    Police and Fire Retirement System                                           444,611                               481,176

    Public Employees Retirement System                                       176,762                               220,706

                                                                                                                               

Lambertville City- Hunterdon                                                                                 

    Police and Fire Retirement System                                             63,973                                 71,585

    Public Employees Retirement System                                         28,860                                 36,035

                                                                                                                               

Maplewood Township- Essex                                                                                 

    Police and Fire Retirement System                                        1,014,185                             1,097,591

    Public Employees Retirement System                                       242,059                               302,236

                                                                                                                               

Matawan Borough- Monmouth                                                                               

    Police and Fire Retirement System                                           215,448                               233,166

    Public Employees Retirement System                                         63,548                                 79,346

                                                                                                                               

Maurice River Township- Cumberland                                                                   

    Police and Fire Retirement System                                                                        

    Public Employees Retirement System                                         25,675                                 32,058

                                                                                                                               

Milltown Borough- Middlesex                                                                                 

    Police and Fire Retirement System                                           145,865                               157,861

    Public Employees Retirement System                                         87,610                               109,390

                                                                                                                               

Mount Arlington Borough- Morris                                                                           

    Police and Fire Retirement System                                             88,697                                 97,154

    Public Employees Retirement System                                         44,706                                 55,820

                                                                                                                               

North Plainfield Borough- Somerset                                                                       

    Police and Fire Retirement System                                                                        

    Public Employees Retirement System                                       712,112                               770,676

                                                                                                                               

Oceanport Borough- Monmouth                                                                             

    Police and Fire Retirement System                                           154,761                               167,488

    Public Employees Retirement System                                         34,991                                 43,690

 

 

 

 

Page 8 of 9

 

                                                                                                                               

Oradell Borough- Bergen                                                                                       

    Police and Fire Retirement System                                           223,499                               241,879

    Public Employees Retirement System                                         66,013                                 82,424

                                                                                                                               

Palisades Park Borough- Bergen                                                                           

    Police and Fire Retirement System                                           347,835                               376,441

    Public Employees Retirement System                                       100,707                               125,743

                                                                                                                               

Passaic County- Passaic                                                                                         

    Police and Fire Retirement System                                        6,600,998                             7,156,112

    Public Employees Retirement System                                    2,966,197                             3,703,603

                                                                                                                               

Passaic County Board of Social Services                                                               

    Police and Fire Retirement System                                                                        

    Public Employees Retirement System                                    1,174,419                             1,466,384

                                                                                                                               

Pleasantville City- Atlantic                                                                                     

    Police and Fire Retirement System                                        1,033,690                             1,118,700

    Public Employees Retirement System                                       137,994                               172,300

 

Raritan Township- Hunterdon                                                                                 

    Police and Fire Retirement System                                           354,955                               384,670

                                                                                                                               

River Edge Borough- Bergen                                                                                  

    Police and Fire Retirement System                                           274,030                               296,566

    Public Employees Retirement System                                       101,092                               126,224

                                                                                                                               

Roseland Borough- Essex                                                                                       

    Police and Fire Retirement System                                           265,741                               287,595

    Public Employees Retirement System                                         91,296                               113,992

                                                                                                                               

South Brunswick Township- Middlesex                                                                  

    Police and Fire Retirement System                                           814,062                               881,010

    Public Employees Retirement System                                       498,161                               622,005

                                                                                                                               

South Orange Village Township- Essex                                                                 

    Police and Fire Retirement System                                           957,530                             1,036,277

    Public Employees Retirement System                                       196,049                               244,787

                                                                                                                               

Sussex Borough- Sussex                                                                                        

    Police and Fire Retirement System                                                                        

    Public Employees Retirement System                                         13,465                                 16,812

                                                                                                                               

Upper Saddle River- Bergen                                                                                  

    Police and Fire Retirement System                                           213,155                               230,685

    Public Employees Retirement System                                         60,672                                 75,755

                                                                                                                               

Wall Township- Monmouth                                                                                     

    Police and Fire Retirement System                                           825,285                               893,156

    Public Employees Retirement System                                       303,394                               378,819

                                                                      

Wanaque Borough- Passaic                                                                                   

    Police and Fire Retirement System                                           234,925                               254,245

    Public Employees Retirement System                                         80,353                               100,329

 

Page 9 of 9

 

                                                                                

Washington Borough- Warren                                                                                

    Police and Fire Retirement System                                           112,756                               122,029

    Public Employees Retirement System                                         51,530                                 64,340

                                                                                                                               

West Long Branch Borough- Monmouth                                                                 

    Police and Fire Retirement System                                           172,864                               187,080

    Public Employees Retirement System                                                                    

                                                                                                                               

Willingboro Township- Burlington                                                                          

    Police and Fire Retirement System                                           737,101                               797,720

    Public Employees Retirement System                                       232,731                               290,589

                                                                                                                               

Woodbury Heights Borough- Gloucester                                                                

    Police and Fire Retirement System                                             49,997                                 54,109

    Public Employees Retirement System                                         30,590                                 38,195

                                                                                                                               

Woodland Park Borough- Passaic                                                                          

    Police and Fire Retirement System                                           251,873                               272,587

    Public Employees Retirement System                                         78,171                                 97,604