City Council

The Regular Meeting of the City Council: of the City of Hackensack was held at City Hall, 65 Central Avenue, Hackensack, New Jersey, on Tuesday, February 17, 1998 . · Mayor Zisa called the meeting to order at 8: 00 P . M . and asked e�eryone to stand for the flag salute . The Mayor then asked the City Clerk to call the roll . Present - Councilman Jesus R . Galvis, Deputy Mayor Juanita I Tranunell, Councilman Mark A . Stein, Mayor John F . Zisa, City Manager James S . Lacava, City Clerk Doris L . Dukes and City Attorney Richard E . Salkin Absent - Councilman Roger B . Mattei Mrs . Dukes: " In accordance with the Open Public Meetings Act, Chapter 231, Laws of 1975 adequate notice of this meeting was provided by sending a notice to The Record and by posting a copy on the Bulletin Board in City Hall . " Mayor Zisa called for a motion to approve the minutes of the meetings held February 2nd and 9th 1998 . Motion offered by Stein, seconded by Tranunell, that the minutes be approved as submitted . Carried Mayor Zisa, before starting the regular business of the meeting introduced Police Chief Zisa who introduced the H-Cops, a new group of volunteers working with th Police Department . Mayor Zisa and membe�s of Council thanked both the Chief and the Voluteers for volunteering their time and service to the citizens of Hackensack . Chief Zisa, also presented citations to Officers Inglima, I Longobardo and Lloyd in recognition of special performance while on duty . RESOLUTION #43 OFFERED BY: TRAMMELL SECONDED BY: STEIN BE IT RESOLVED by the City Council of the City of Hackensack that the following organizations be granted permission to conduct a Raffle and amend a Bingo License in accordance with applications on file in the office of the City Clerk: RA : 1553 Capt . H . B . Doremus Post #55, American Legion RA : 1554 The Columbians BL: 1546 (to Amend) Parent Teachers Guild o St. Francis Church Roll Call: Ayes - Galvis, Trammell, Stein, Zisa Absent - Mattei RESOLUTION #44 OFFERED BY: STEIN SECONDED BY: GALVIS WHEREAS, it is the wish of the City of Hackensack to conform with Chapter 119, Laws of 1973, N . J . S . A . 54: 4-14 governing REG . 18: 12A-1 . 6, which deals with petition of Appeal; and WHEREAS, the Bergen County Board of Taxation shall not accept, for filing, any petitions of appeal by the Taxing District unless I the petition is accompanied by a certified copy of a resolution of the governing body authorizing the appeal; and WHEREAS, upon continuing review of the Tax List it may become apparent that inequities may exist or errors may have been made, which will require correction by appeal to the Bergen County Board of Taxation; NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council of the City of Hackensack that they hereby authorize the Tax Collector and/or the City Tax Attorney and/or the Bergen County Board of Taxation in any and all cases where inequities or errors may exist for the tax year 1998 and further authorize the Tax Collector · and/or City Tax Attorney and/or City Attorney to take any and all actions that may be required to prosecute same to the final determination . Roll Call: - Ayes - Galvis, Trammell, Stein, Zisa Absent - Mattei I RESOLUTION #45 OFFERED BY: GALVIS SECONDED BY: TRAMMELL WHEREAS, the governing body of the City of Hackensack has been advised that an emergency affecting the safety and welfare of the citizens of the City of Hackensack and the general public who operate motor vehicles within the City limits of the City of Hackensack, when a traffic signal located at the intersection of Main Street and Passaic Street was accidentally knocked down and rendered inoperable on December 22, 1997; and WHEREAS, the Chief of Police of the City of Hackensack has furnished to the City Manager a written report setting forth the time, place and circumstances regarding the emergency; and WHEREAS, the governing body is satisfied that an emergency did exist and that immediate action was necessary to restore the aforementioned traffic signal to full operation; and WHEREAS, the cost of the repair was $4,815 . 00, which is a fair and reasonable quotation; and WHEREAS, the Chief Financial Officer has certified that funds are available in account #7-010-318-267 of the General Fund, P . O . #103797; and I WHEREAS, it is anticipated that the entire cost of the repairs will be recovered from the insurance carriers . NOW,. THEREFORE, BE IT RESOLVED by the City Council of the City of Hackensack that pursuant to N . J . S . A . 40A: ll-6, which authorizes the governing body to award contracts without public bidding in emergency situations, the vendor, Traffic Control Equipment Corp . , Inc . , 242-252 Hudson Street, Hackensack, NJ 07601, be paid therefor . Roll Call: Ayes - Galvis, Trammell, Stein, Zisa Absent - Mattei RESOLUTION #46 OFFERED BY: STEIN SECONDED BY: GALVIS WHEREAS, the governing body of the City of Hackensack has been advised that an emergency affecting the safety and welfare of the citizens of the City of Hackensack and the general public who operate motor vehicles within the City limits of the City of Hackensack, when a traffic signal located at the intersection of Main Street and Berry Street was accidentally knocked down and rendered inoperable on December 6, 1997; and WHEREAS, the Chief of Police of the City of Hackensack has furnished to the City Manager a written report setting forth the I time, place and circumstances regarding the emergency; and WHEREAS, the governing body is satisfied that an emergency did exist and that immediate action was necessary to restore the aforementioned traffic signal to full operation; and WHEREAS, the cost of the repair was $4,871.00, which is a fair and reasonable quotation; and WHEREAS, the Chief Financial Officer has certified that funds are available in account #7-010-318-267 of the General Fund, P . O . #103308; and  WHEREAS, it is anticipated that the entire cost of the repairs will be recovered from the insurance carriers . NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Hackensack that pursuant to N . J . S . A . 40A: ll-6, which authorizes the governing body to award contracts without public bidding in emergency situations, the vendor, Traffic Control Equipment Corp . , Inc . , 242-252 Hudson Street, Hackensack, NJ 07601, be paid therefor . I Roll Call: Ayes - Galvis, Trammell, Stein, Zisa Absent - Mattei RESOLUTION #47 OFFERED BY: TRAMMELL SECONDED BY: STEIN BE IT RESOLVED by the City Council of the City of Hackensack that the proper officers be and are hereby authorized to make the following refunds for the reasons stated: Amount Block Lot Name Year Reason $ 496 . 00 540 1C00K2 Mary Ellen Iazzetti 1998 Err . Pymt . Roll Call: Ayes - Galvis, Trammell, Stein, Zisa ·· · Absent - Mattei RESOLUTION #48 OFFERED BY: GALVIS SECONDED BY: TRAMMELL WHEREAS, R . S . 40: 2-35 provides that monies held in any separate fund shall be treated as monies held in trust and shall not be diverted to any other purpose . NOW, THEREFORE, BE IT RESOLVED that the following banks be made the depositories for various accounts effective immediately; I Bank of New York Chase Bank City National Bank of NJ Commerce Bank First Union Fleet Bank Hudson Union Bank PC Bank Summit Bank Trust Company of New Jersey Valley National Bank BE IT FURTHER RESOLVED that the Custodian shall be Louis J . Garbaccio and that all disbursements shall be made by checks signed by Mayor John F . Zisa, Treasurer, Louis J . Garbaccio and City Clerk Doris L . Dukes, or in her absence Chief Financial Officer, Louis J . Garbaccio . Roll Call: Ayes - Galvis, Tr ammell, Stein, Zisa Absent - Mattei RESOLUTION #49 OFFERED BY: STEIN SECONDED BY: TRAMMELL WHEREAS, various 1997 bills have been presented for payment this year, which bills were not covered by number and/or recorded I at the time of transfers between the 1997 Budget Appropriations reserve in the last two months of 1997, and WHEREAS, N . J . S . 40A: 4-59 provides that all unexpended balances carried forward after the close of the year are available, until lapsed at the close of the succeeding year, to meet specific claims, commitments or contracts incurred during the preceding fiscal year, and allow transfers to be made from unexpended balances which are expected to be insufficient during the first three months of the succeeding year;  NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Hackensack that the transfers in the amount of $49,800. 00 be made between the 1997 Budget Appropriation Reserves as follows: FROM TO Traffic Control S/W 600 . 00 Financial Admin O/E 600. 00 Pub Bldg & Grnd S/W 600 . 00 Pub Bldg & Grnd 0/E 400. 00 I Telephone O/E 200 . 00 Police S/W 12,200 . 00 Police O/E 2,000 . 00 Community Dev O/E 10,000 . 00 City Garage O/E 200. 00 Street Cleaning S/W 700 . 00 Street Cleaning 0/E 700 . 00 Police S/W 35,700 . 00 Garbage & Trash O/E 5,200 . 00 Recycling O/E 5,ooo. oo Parks & Playground O/E 300 . 00 Recreation O/E 200 . 00 Reserve for Unemployment 25,000 . 00 Total 49,800 . 00 49,800 . 00 Roll Call: Ayes - Galvis, Trammell, Stein, Zisa Absent - Mattei RESOLUTION #50 OFFERED BY: TRAMMELL SECONDED BY: STEIN WHEREAS, an emergent condition has arisen with respect to insufficient temporary appropriations to facilitate the awarding of annual contracts and no adequate provision has been made in the 1998 temporary appropriations for the aforesaid purpose, and N . J . S . I 40A: 4-20 provides for the creation of an emergency temporary appropriation for the purpose above mentioned, and WHEREAS, the total emergency temporary resolutions adopted in the year 1998 pursuant to the provisions of N . J . S . 40A; 4-20 (Chapter 96, P.L. 1951) including this resolution total $739,000 . 00 . NOW, THEREFORE, BE IT RESOLVED (not less than two-thirds of all the members thereof affirmatively concurring) that in accordance with the provisions of N . J . S . 40A: 4-20: 1. An emergency temporary appropriation be and the same is hereby made for the awarding of annual contracts in the amount of $739,000 . 00 Financial Admin . 0/E 10,000 . 00 Tax Collector 0/E $ 4,000 . 00 Pub Bldg & Grounds O/E 25,000 . 00 Group Insurance Plans O/E 300,000 . 00 Fire Official S/W 10,000. 00 Building Inspector S/W 50,000 . 00 Inspection of Property Mgmt S/W 15,000 . 00 Community Development S/W 45,000 . 00 DPW O/E 3,000. 00 Library 0/E Master Plan SSS-OAS! O/E 10,000 . 00 6,000 . 00 140,000. 00 I TOTAL $618,000 . 00 2. That said emergency temporary appropriation will be provided for in the 1998 budget .  3 . That one certified copy of this resolution be filed with Director of Local Government Services . Roll Call: Ayes - Galvis, Trammell, Stein, Zisa Absent - Mattei RESOLUTION #51 OFFERED BY: TRAMMELL SECONDED BY: GALVIS WHEREAS, the City of Hackensack requires the services of a Financial Consultant; and I WHEREAS, such professional services will be rendered or performed by a person authorized by law to practice a recognized profession and whose practice is regulated by law pursuant to N . J . .S . A . 40A: ll-3 (1) (a) (i) of the Local Public Contracts Law; and WHEREAS, the Local Public Contracts Law requires that the resolution authorizing the award of contracts for professional services without competitive bids and the contract itself must be available for public inspection; and WHEREAS, it is the desire of the City Council of the City of Hackensack to retain the services of Joseph Scrivo, 15 Dogwood Court, Mahwah, NJ to provide Financial Consulting services; and WHEREAS, a certificate establishing that funds are available from Account No . 8-010-210-204 of the Current Fund, in the amount of $10,000 . 00, P . O . 104022, has been issued by the Chief Financial Officer pursuant to and in accordance with N . J . A . C . 5: 30-14 . 5 of the Rules and Regulations of the New Jersey Department of Community Affairs, Local Finance Board . NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Hackensack as follows: I 1. The Mayor and City Clerk be and they are hereby authorized and directed to exe�ute a contract with Joseph Scrivo to provide said services . 2. This contract is awarded without competitive bidding as professional services in accordance with N . J . S . A . 40: 11-5 (1) (a) (i) of the Local Public Contracts Law because said services are to be rendered or performed by a person authorized by law to practice a recognized profession and whose profession is regulated by law; and BE IT FURTHER RESOLVED that the City Clerk be and hereby is responsible to retain a copy of the contract for public inspection and to publish notice of this action once in The Record . Roll Call: Ayes - Galvis, Trammell, Stein, Zisa Absent - Mattei RESOLUTION #52 OFFERED BY: STEIN SECONDED BY: GALVIS WHEREAS, pursuant to N . J . S . A . 40A: 10-6 et seq., the Mayor and Council of the City of Hackensack have instituted a self insurance program by the adoption of Ordinance No . 26-91, creating an insurance fund and providing for the administration thereof; and WHEREAS, pursuant to said Statute and Ordinance, it is I necessary that the Mayor and Council appoint three (3) City officials to serve as Insurance Fund Commissioners and a Secretary to the Commission; NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council of the City of Hackensack, that the following City Officials be and hereby are appointed to serve as Insurance Fund Commissioners for a period of two (2) years to expire on December 31, 1999, or until their successor (s) have been duly appointed and qualified, whichever occurs later: 1. Gordon Sieck 2. Louis Garbaccio 3 . Raymond Carnevale  BE IT FURTHER RESOLVED that Gladys Paciullo be and hereby is appointed to serve as Secretary to the Insurance Fund Commission. Roll Call: Ayes - Galvis, Trammell, Stein, Zisa Absent - Mattei RESOLUTION #53 OFFERED BY: TRAMMELL SECONDED BY: STEIN WHEREAS, L. & B. Masciulli are the owners and taxpayers of certain real properties known as Block 206, Lots 7 and 1 3, I designated as 81 Moore Street and 8 0 Main Street, respectively: and WHEREAS, the taxpayers filed appeals to their 1996 real property tax assessments, which matters are presently pending in the Tax Court of New Jersey; and WHEREAS, the yearly assessment is $47,900 for Lot 7 and $162,100 for Lot 13; and WHEREAS, upon review of information submitted, reductions appear appropriate; and WHEREAS, it is the recommendation of the Tax Attorney and Tax Assessor that these matters should be settled; and . WHEREAS, said settlement is in the best interests of the City of Hackensack; NOW THEREFORE BE IT RESOLVED by the Mayor and Council of the City of Hackensack that the Tax Counsel be and he is hereby authorized and directed to execute any and all documents which may be necessary in order to effectuate a settlement of litigation entitled " L. Masciulli c/o Cardinal Color v. City of Hackensack" , Docket No. 007978 -96 presently pending in the Tax Court of New Jersey, so that the assessment for Lot 13 be reduced to $117,100 I and the assessment for Lot 7 be retained at $47,900 and not reduced and that the provisions of the Freeze Act (N. J. S. A. 54: 51A-8) be incorporated into such settlement documents; and BE IT FURTHER RESOLVED, that the foregoing settlement is predicated upon a full waiver of any interest payable to the taxpayer on the refund . Roll Call: - Ayes - Galvis, Trammell, Stein, Zisa Absent - Mattei RESOLUTION #54 OFFERED BY: TRAMMELL SECONDED BY: STEIN WHEREAS, Camm Associates is the owner and taxpayer of certain real properties known as Block 66, Lots 8 and 1 0, designated as 39 Hudson Street and 42 Kansas Street, respectively; and WHEREAS, the taxpayer filed appeals to its 1996 and 1997 real property tax assessments, which matters are presently pending in the Tax Court of New Jersey; and WHEREAS, the yearly assessment is $2,295,000 for Lot 8 and $53,600 for Lot 10; and WHEREAS, upon review of information submitted, reductions appear appropriate; and WHEREAS, it is the recommendation of the Tax Attorney and Tax Assessor that these matters should be settled; and I WHEREAS, said settlement is in the best interests of the City of Hackensack; NOW THEREFORE BE IT RESOLVED by the Mayor and Council of the City of Hackensack that the Tax Counsel be and he is hereby authorized and directed to execute any and all documents which may be necessary in order to effectuate a settlement of litigation  entitled " Camm Associates v . City of Hackensack" , Docket Nos . 003445-96 and 001310-07 presently pending in the Tax Court of New Jersey, so that the assessment on Lot 8 be reduced to $1,945,400 for 1996 and 1997, and that the assessment for Lot 10 be retained at $53,600 and not reduced; and BE IT FURTHER RESOLVED, that the foregoing settlement is predicated upon a full waiver of any interest payable to the taxpayer on the refund . I Roll Call: Ayes - Galvis, Trammell, Stein, Zisa Absent - Mattei RESOLUTION #55 OFFERED BY: TRAMMELL SECONDED BY: STEIN WHEREAS, Tenworth Associates is the owner and taxpayer of certain real property known as Block 518, Lot 26, designated as 90 Grand Avenue; and WHEREAS, the taxpayer has filed an appeal to its 1994 and 1995 real property tax assessment, which matters are presently pending in the Tax Court of New Jer�ey; and WHEREAS, the assessment for the subj ect property is $593,300 ; and WHEREAS, upon review of information submitted, a reduction appears appropriate for each year; and WHEREAS, it is the recommendation of the Tax Attorney and Tax Assessor that this matter should be settled; and WHEREAS, said settlement is in the best interests of the City of Hackensack; I NOW THEREFORE BE IT RESOLVED by the Mayor and Council of the City of Hackensack that the Tax Counsel be and he is hereby authorized and directed to execute litigation entitled " Tenworth Associates v . City of Hackensack" , Docket Nos . 013226-94 and 010148-95 presently pending in the Tax Court of New Jersey, so that the assessment be reduced to $493,000 for 1994 and 1995 and that the provisions of the Freeze Act shall apply; and BE IT FURTHER RESOLVED, that the foregoing settlement is predicated upon a full waiver of any interest payable to the taxpayer on the refund . Roll Call: Ayes - Galvis, Trammell, Stein, Zisa Absent - Mattei RESOLUTION #56 OFFERED BY: TRAMMELL SECONDED BY: STEIN WHEREAS, JM Larkin and others are the owners and taxpayer� of certain real property known as Block 73, Lot 14, desig�ated as 75 Fair Street; and WHEREAS, the taxpayers filed appeals to their 1995, 1996 and 1997 real property tax assessment, which matter is presently pending in the Tax Cour� of New Jersey; and I WHEREAS, the yearly assessment is $479,000 for 1995 and 1996 and $600,000 for 1997 ; and WHEREAS, upon review of information submitted, a reduction appears appropriate; and WHEREAS, it is the recommendation of the Tax Attorney and Tax Assessor that these matters should be settled; and WHEREAS, said settlement is in the best interests of the City of Hackensack;  NOW THEREFORE BE IT RESOLVED by the Mayor and Council of the City of Hackensack that the Tax Counsel be and he is hereby authorized and directed to execute any and all documents which may be necessary in order to effectuate a settlement of litigation entitled " Larkin JM & PJ & JB & TA v. City of Hackensack" , Docket Nos . 010202-95, 008678-96 and 006660-97 presently pending in the Tax Court of New Jersey, so that the assessments for 1995 and 1996 be retained and that the provisions of the Freeze Act (N . J. S . A. 54: 51A-8) be incorporated into such settlement doc�ents; and I BE IT FURTHER RESOLVED, that the foregoing settlement is predicated upon a full waiver of any interest payable to the taxpayer on the refund . Roll Call: Ayes - Galvis, Trammell, Stein, Zisa Absent - Mattei RESOLUTION #57 OFFERED BY: TRAMMELL SECONDED BY: STEIN WHEREAS, Paul & Gretta Cooper are the owners and taxpayers of certain real property known as Block 230, Lot 24. C, designated as 173 Beech Street; and WHEREAS, the taxpayer filed appeals to their 1995 and 1996 real property tax assessment, which matter is presently pending in the Tax Court of New Jersey; and WHEREAS, the yearly assessment is $192,900; and WHEREAS, upon review of information submitted, reductions appear appropriate; and WHEREAS, it is the recommendation of the Tax Attorney and Tax Assessor that these matters should be settled; and I WHEREAS, said settlement is in the best interests of the City of Hackensack; NOW THEREFORE BE IT RESOLVED by the Mayor and Council of the City of Hackensack that the Tax Counsel be and he is hereby authorized and directed to execute any and all documents, in provision for application of the Freeze Act, which may be necessary in order to effectuate a settlement of litigation entitled " Cooper, Paul C. & Gretta v. City of Hackensack", Docket Nos . 010207-95 and 008682-96 presently pending in the Tax Court of New Jersey, so that the assessments be reduced to $170,000 for both years, and BE IT FURTHER RESOLVED, that the foregoing settlement is predicated upon a full waiver of any interest payable to the taxpayer on the refund. Roll Call: Ayes - Galvis, Trammell, Stein, Zisa Absent - Mattei RESOLUTION #58 OFFERED BY: TRAMMELL SECONDED BY: STEIN WHEREAS, Gloria Kushman and Sheila Singer are the owners and taxpayers of certain real property known as Block 100 . H, Lot 2, designated as 116 So. Newman Street; and WHEREAS, the taxpayers filed an appeal to their 1995, 1996 and 1997 real property tax assessment, which matter is presently pending in the Tax Court of New Jersey; and I WHEREAS, the yearly assessment is $359,900; and WHEREAS, upon review of information submitted, a reduction appears appropriate; and WHEREAS, it is the recommendation of the Tax Attorney and Tax Assessor that these matters should be settled; and  WHEREAS, said settlement is in the best interests of the City of Hackensack; NOW THEREFORE BE IT RESOLVED by the Mayor and Council of the City of Hackensack that the Tax Counsel be and he is hereby authorized and directed to execute any and all documents which may be necessary in order to effectuate a settlement of litigation entitled "Gloria Kushman and Sheila Singer v. City of Hackensack", Docket Nos. 009971-95, 008194-96 and 005268-97 presently pending in the Tax Court of New Jersey, so that the assessment be reduced to I $300,000 for 1995,1996 and 1997; and BE IT FURTHER RESOLVED, that the foregoing settlement is predicated upon a full waiver of any interest payable to the taxpayer on the refund. Roll Call: Ayes - Galvis, Trammell, Stein, Zisa Absent - Mattei RESOLUTION #59 OFFERED BY: TRAMMELL SECONDED BY: STEIN WHEREAS, F. William Koestner, Jr. is the owner and taxpayer of certain real property known as Block 66, Lot 53.A, designated as 61 Hudson Street; and WHEREAS, the taxpayer filed an appeal to his 1996 real property tax assessment, which matter is presently pending in the Tax Court of New Jersey; and WHEREAS, the yearly assessment is $702,200; and WHEREAS, upon review of information submitted, a reduction appears appropriate; and WHEREAS, it is the recommendation of the Tax Attorney and Tax I Assessor that these matters should be settled; and WHEREAS, said settlement is in the best interests of the City of Hackensack; NOW THEREFORE BE IT RESOLVED by the Mayor and Council of the City of Hackensack that the Tax Counsel be and he is hereby authorized and directed to execute any and all documents which may be necessary in order to effectuate a settlement of litigation entitled "F. William Koestner Jr. v. City of Hackensack", Docket No. 008558-96 presently pending in the Tax Court of New Jersey, so that the assessment be reduced to $625,000 for 1996 and that the provisions of the Freeze Act (N.J.S.A. 54:51A-8) be incorporated into such settlement documents; and BE IT FURTHER RESOLVED, that the foregoing settlement is predicated upon a full waiver of any interest payable to the taxpayer on the refund. Roll Call: Ayes - Galvis, Tr ammell, Stein, Zisa Absent - Mattei RESOLUTION #60 OFFERED BY: GALVIS OFFERED BY: TRAMMELL BE IT RESOLVED by the City C ��ncil of the City of Hackensack I that the bills in the following accounts be and are hereby ordered paid: Current Fund Account $ 1,432,864.59 Public Assistance II Account 20,959.52 Capital Account 222,170.86 Public Parking System Account 3,560.15 Payroll Agency Account 96,119.88  BE IT FURTHER RESOLVED that said bills are on file as a public record in the office of the Chief Financial Officer. Roll Call: Ayes - Galvis, Trammell, Stein, Zisa Absent - Mattei RESOLUTION #61 OFFERED BY: TRAMMELL SECONDED BY: GALVIS RESOLUTION DETERMINING THE FORM AND OTHER DETAILS OF $12, 445,000 GENERAL OBLIGATION BONDS CONSISTING OF $9,695,000 GENERAL IMPROVEMENT BONDS AND $2,750,000 PARKING UTILITY BONDS OF I THE CITY OF HACKENSACK, IN THE COUNTY OF BERGEN, NEW JERSEY AND PROVIDING FOR THEIR SALE. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF HACKENSACK, IN THE COUNTY OF BERGEN, NEW JERSEY AS FOLLOWS; Section 1. The $9,695,000 General Improvement Bonds of the City of Hackensack, in the County of BERGEN, New Jersey (the "City") referred to and described in the resolution adopted by the City Council pursuant to the Local Bond Law of the State of New Jersey on February 17, 1998 and entitled, "Resolution Providing for the Combination of Certain Issues of General Improvement Bonds and Parking Utility Bonds of the City of Hackensack, New Jersey into Two Separate Issues of Bonds Aggregating $12,445,000 in Principal Amount," shall be issued as general improvement bonds (hereinafter referred to as the "General Improvement Bonds"). The General Improvement Bonds shall mature in the principal amounts on March 15 in each of the years as follows. Year Principal Amount Year Principal Amount 1999 $325,000 2009 $500,000 2000 325,000 2010 500,000 2001 350,000 2011 550,000 2002 350,000 2012 550,000 2003 2004 2005 2006 375,000 375,000 400,000 400,000 2013 2014 2015 2016 600,000 600,000 600,000 600,000 I 2007 .500,000 2017 650,000 2008 500,000 2018 645,000 The General Improvement Bonds shall be subj ect to redemption prior to maturity in accordance with the terms provided in the Notice of Sale authorized herein. The General Improvement Bonds shall be twenty in number, with one certificate being issued for each year of maturity, and shall be numbered GI-1 to GI-20, inclusive. Section 2. The $2,750,000 Parking Utility Bonds of the City referred to and described in the resolution adopted by the City Council pursuant to the Local Bond Law of the State of New Jersey on February 17, 1998 and entitled, "Resolution Providing for the Combination of Certain Issues of General Improvement Bonds and Parking Utility Bonds of the City of Hackensack, New Jersey into Two Separate Issues of Bonds Aggregating $12,445,000 in Principal Amount," shall be issued as parking utility bonds (hereinafter referred to as the "Parking Utility Bonds). The Parking Utility Bonds shall mature in the prinqipal amounts on March 15 in each of the years as follows: Year 1999 2000 Principal Amount $100,000 100,000 Year 2009 2010 Principal Amount $150,000 150,000 I 2001 100,000 2011 150,000 2002 125,000 2012 150,000 2003 125,000 2013 150,000 2004 125,000 2014 150,000 2005 125,000 2015 150,000 2006 150,000 2016 150,000 2007 150,000 2017 150,000 2008 150,000 2018 150,000  The Parking Utility Bonds shall be subj ect to redemption prior to maturity in accordance with the terms provided in the Notice of Sale authorized herein. The Parking Utility Bonds shall be twenty in number, with one certificate being issued for each year of maturity, and shall be numbered PU-1 to PU-20, inclusive. Section 3. The General Improvement Bonds and the Parking Utility Bonds collectively are sometimes referred to hereinafter as the "Bonds". I Section 4. The Bonds will be issued in fully registered from. Both principal of and interest on the Bonds will be payable in lawful money of the United States of America. Each certificate will be registered in the name of Cede & Co. , as nominee of The Depository Trust Company, New York, New York, which will act as securities depository (the "Securities Depository"). The certificates will be on deposit with The Depository Trust Company. The Depository Trust Company will responsible for maintaining a book-entry system for recording the interests of its participants or the transfers of the interests among its participants. The participants will be respons �ble for maintaining records recording the beneficial ownership interests in the Bonds on behalf of individual purchasers. Individual purchases may be made in the amount of $5,000 or any integral multiple thereof through book­ entries made on the books and the records of The Depository Trust Company and its participants. The Bonds will bear interest payable on September 15, 1998 and semi-annually thereafter on the fifteenth days of March and September in each year until maturity at a rate per annum, expressed in a multiple of 1/8 or 1/20 of 1% and proposed by the successful bidder in accordance with the Notice of Sale authorized herein. The principal of and the interest on the Bonds will be paid by the City to the Registered Owners as of March 1 and September 1 next preceding the date of such payments (the "Record Dates" for the Bonds"). The Bonds shall be executed by the manual or facsimile signatures of the Mayor and the Chief Financial I Officer under the official seal affixed, printed, engraved or reproduced thereon and attested by the manual signature of the City Clerk. Section 5. The Bonds shall be substantially in the following form with such additions, deletions and omissions as may be necessary for the City to conform with the requirements of the Depository Trust Company. REGISTERED REGISTERED NUMBER A. $ UNITED STATES OF AMERICA STATE OF NEW JERSEY CITY OF HACKENSACK COUNTY OF BERGEN B. ____ BOND DATE OF INTEREST ORIGINAL MATURITY RATE ISSUE: DATE: PER ANNUM: CUSIP: March 15, 1998 March 15th % I CITY OF HACKENSACK, IN THE COUNTY OF BERGEN, a municipal corporation of the State of New Jersey (the "City"), hereby acknowledges itself indebted and for value received promises to pay to CEDE & CO. on the Maturity Date specified above, upon presentation and surrender of this bond, the principal sum of DOLLARS ( $ ) and to pay interest on such sum from the Date of • Original Issue of the bond until it matures at the Interest Rates Per Annum specified above on September 15, 1998 and semi-annually thereafter on the fifteenth days of March and September in each year until maturity. Interest on this Bond will be mailed by the City to the Registered Owner as of March 1 and September 1 next preceding the date of such payments. Principal of this bond, when due, will be paid by the City to the Registered Owner upon presentation and surrender of this bond to the City. No transfer of this bond shall be valid unless made on the registration books of the City and by surrender of this bond (together with a written instrument of transfer satisfactory to the City duly executed by the Registered Owner or by his or her duly authorized attorney) and the issuance of a new bond or bonds in the same form and tenor as the original bond except for the differences in the name of its Registered Owner and the denominations. The I owner of any bond or bonds may surrender same (together with a written instrument of transfer satisfactory to the City duly executed by the Registered Owner or by his or her duly authorized attorney), in exchange for an equal aggregate principal amount of bonds of any authorized denominations. The bonds maturing prior to March 15, 2008 are not subject to redemption prior to their stated maturities. The bonds maturing on or after March 15, 2009 are redeemable at the option of the City in whole or in part on any date on or after March 15, 2008 at the respective prices expressed as percentages of principal amount set forth below (the " Redemption Price" ), plus in each case accrued interest to the date fixed for redemption: Redemption Period Redemption (both dates inclusive) Price March 15, 2008 to March 14, 2009 102% March 15, 2009 to March 14, 2010 101% March 15, 2010 and thereafter 100% Notice of Redemption shall be given by publishing such notice once a week for two (2) successive weeks in a newspaper of general circulation that carries financial news, is printed in the English I language and is customarily published on each business day in the State of New York, the first of such publications to be at least thirty but not more than sixty days before the date fixed for redemption. Notice of Redemption also shall be given by mailing by first class mail in a sealed envelope with postage prepaid to the registered owners of the bonds not less than thirty (30) days, nor more than sixty days prior to the date fixed for redemption, at their respective addresses as they last appear on the registration books kept for that purpose by the City or a duly appointed Bond Registrar. The bonds are part of a combined issue of bonds in the aggregate principal amount of $12,445,000. If the City determines to redeem a portion of a particular maturity of the combined issued of bonds, the bonds to be redeemed shall be selected by such method as the City shall determine. If Notice of Redemption has been given as provided herein, the bonds or the portion thereof called for redemption shall be due and payable on the date fixed for redemption at the Redemption Price, together with accrued interest to the date fixed for redemption. Interest shall cease to accrue on the bonds after the date fixed for redemption and no further interest shall accrue beyond the redemption date. This bond is one of an authorized issue of bonds issued I pursuant to the Local Bond Law of the State of New Jersey, a resolution of the City Council adopted February 17, 1998 and entitled, " Resolution Providing for the Combination of Certain Issues of General Improvement Bonds and Parking Utility Bonds of the City of Hackensack, in the County of Bergen, New Jersey into Two Separate Issues of Bonds Aggregating $12,445,000 in Principal Amount," and the various bond ordinances referred to therein, each in all respects duly approved and published as required by law (the " Authorization Proceedings" ). The full faith and credit of the City are hereby irrevocable pledged for the punctual payment of the principal of and the  interest on this bond according to its terms. It is hereby certified and recited that all conditions, acts and things required by the Constitution or the statutes of the State of New Jersey to exist, to have happened or to have been performed precedent to or in the issuance of this bond exist, have happened and have been preformed and the issue of bonds of which this is one, together with all other indebtedness of the City, is within every debt and other limit prescribed by such Constitution or statutes. I IN WITNESS WHEREOF, the CITY OF HACKENSACK, IN THE COUNTY OF BERGEN, New Jersey has caused this bond to be executed in its name by the manual or facsimile signatures of its Mayor and its Chief Financial Officer, its corporate seal to be hereto imprinted or affixed, this bond and the seal to be attested by the manual signature of the City Clerk, and this bond to be dated the Date of Original Issue as specified above. CITY OF HACKENSACK, IN THE COUNTY OF BERGEN, NEW JERSEY ATTEST: By: (Facsimile) Mayor By:��...,.-�������� By: (Facsimile) City Clerk Chief Financial Officer (Assignment Provision of Back of Bond) ASSIGNMENT I the within bond and irrevocably appoints , as Attorney, to transfer this bond on the registration books of the City, with full power of substitution and revocation. NOTICE: .The signature of this assignment must correspond with the name as it appears on the face of the within bond in every particular. Dated: Signature Guarantee: Section 6. In each of the $9,695,000 General Improvement Bonds the following language should be inserted in the places indicated by the corresponding letter in the form of the Bonds set forth in Section 5: A. GI- B. General Improvement Bond Section 7. In each of the $2,750,000 Parking Utility Bonds the following language should be inserted in the places indicated by the corresponding letter in the form of the Bonds set forth in I Section 5: A. PU - B. Parking Utility Bond Section B. The Bonds shall be sold upon sealed proposals on March 18, 1998 at 11:00 a.m. by the Chief Financial Officer at the offices of the City's Bond Counsel, Lowenstein, Sandler, Kohl, Fisher & Boylan, 65 Livingston Avenue, Roseland, New Jersey 07068 in accordance with the Notices of Sale authorized herein. The City Clerk is hereby directed to arrange for the publication of the Notices of Sale in the form provided in Section 9 hereof in the Bergen Record and to arrange for the publication of the Summary of Notice of Sale in the form provided in Section 10 hereof in The Bond Buyer, a financial newspaper published and circulating in the City of New York, New York, such publications to be not less than seven days prior to the date of sale. Pursuant to N.J.S.A. 40A:2- 34, the City Council hereby designates the Chief Financial Officer as financial officer to sell and to award the Bonds in accordance with the Notice of Sale authorized herein, and such Financial Officer shall report in writing the results of the sale to this City Council as required by law. Section 9. The Notice of Sale shall be substantially in the following form: CITY OF HACKENSACK I COUNTY OF BERGEN, NEW JERSEY NOTICE OF $12,445,000 GENERAL OBLIGATION BOND SALE CONSISTING OF $9,695,000 GENERAL IMPROVEMENT BONDS and $2,750,000 PARKING UTILITY BONDS CALLABLE BOOK-ENTRY BONDS (NOT BANK QUALIFIED) SEALED PROPOSALS will be received by the Chief Financial Officer of the City of Hackensack, in the County of Bergen, New Jersey (the "City") at the offices of the City's Bond Counsel, Lowenstein, Sandler, Kohl, Fisher & Boylan, 65 Livingston Avenue, Roseland, New Jersey 07068 on Wednesday, March 18, 1998 until 11:00 a.m., at which time they will be publicly opened and announced for the purchase of the following Bond� of the City due (subject to redemption) on March 15 as follows: General Improvement Bonds Year Principal Amount Year Principal Amount 1999 $325,000 2009 $500,000 2000 2001 2002 2003 325,000 350,000 350,000 375,000 2010 2011 2012 2013 500,000 550,000 550,000 I 600,000 2004 375,000 2014 600,000 2005 400,000 2015 600,000 2006 400,000 2016 600,000 2007 500,000 2017 650,000 2008 500,000 2018 645,000 Parking Utility Bonds Year Principal Amount Year Principal Amount 1999 $100,000 2009 $150,000 2000 100,000 2010 150,000 2001 100,000 2011 150,000 2002 125,000 2012 150,000 2003 125,000 2013 150,000 2004 125,000 2014 150,000 2005 125,000 2015 150,000 2006 150,000 2016 150,000 2007 150,000 2017 150,000 2008 150,000 2018 150,000 The combined maturity schedule for the Bonds is as follows: I Year Principal Amount Year Principal Amount 1999 $425,000 2009 $650,000 2000 425,000 2010 650,000 2001 450,000 2011 700,000 2002 475,000 2012 700,000 2003 500,000 2013 750,000 2004 500,000 2014 750,000 2005 525,000 2015 750,000 2006 550,000 2016 750,000 2007 650,000 2017 800,000 2008 650,000 2018 795,000  All bidders for the Bonds must be participants of The Depository Trust Company, New York, New York or affiliated with its participants. The Bonds will be issued in book-entry form only, in the form of one certificate for the aggregate principal amount of each series of Bonds maturing in each year and will be payable as to both principal and interest in lawful money of the United States of America. Each Bond will be registered in the name of Cede & Co. , as nominee of The Depository Trust Company, New York, New York, which will act as securities depository. The bonds will be on deposit with The Depository Trust Company. I The Bonds will be dated March 15, 1998 and will bear interest at the rate per annum specified by the successful bidder therefor in accordance herewith, payable on September 15, 1998 and semi­ annually thereafter on the fifteenth day of March and September in each year until maturity to the Registered Owner as of March 1 and September 1 next preceding each interest payment date. the principal of the Bonds, when due, will be payable at the City, upon •urrender of the Bonds. The Bonds maturing prior to March 15, 2008 are not subj ect to redemption prior to their stated maturities. These bonds maturing on or after March 15, 2009 are redeemable at the option of the City in whole or in part on any date on or after March 15, 2008 at the respective prices expressed as percentages of principal amount set forth (the "Redemption Price"), plus in each case accrued interest to the date fixed for redemption: Redemption Period Redemption (both dates inclusive) Price· March 15, 2008 to March 14, 2009 102% March 15, 2009 to March 14, 2010 101% March 15, 2010 and thereafter 100% I Each proposal must specify: a. a single rate of interest that the Bonds are to bear, in a multiple of 1/8 or 1/20 of 1%; b. the principal amount of Bonds the bldder will accept, which shall be $12, 445, 000 or any lesser amount that is a multiple of $1, 000, the Bonds accepted being the first to mature: and c. the price the bidder will pay, which shall be not less than $12, 445, 000 nor more than $12, 446, 000. The Bonds will be sold to the bidder specifying the lowest rate of interest. As between such proposals specifying the same rate of interest, the Bonds will be sold to the bidder who offers to accept the least amount of Bonds. If two or more such bidders offer to accept the same amount of Bonds, then the Bonds will be sold to such bidder offering to pay therefor the highest price. If two or more such bidders offer to pay the same price, then the Bonds will be sold to one of such bidders selected by lot from amount all such bidders. The purchases must also pay an amount equal to the interest on the Bonds accrued to the date of payment of the purchase price. The right is reserved to rej ect all bids, and any bid not I complying with the terms of this notice will be rej ected. Each bidder is required to deposit a certified, treasurer's or cashier's check payable to the order of the CITY OF HACKENSACK for $248, 900 drawn upon a bank or trust company, and such check must be enclosed with the proposal. When the successful bidder has been ascertained, all such deposits will be promptly returned to the persons making them, except the check of the successful bidder, which will be applied in part payment for the Bonds or to secure the City from any loss resulting from the failure of the bidder to comply with the terms of its bid. Award of the Bonds to the successful bidder or rej ection of all bids is expected to be made within two hours after opening of the bids, but such successful bidder may not withdraw its proposal until after 2: 00 p. m. of the day of such bid-opening and then only if such award has not been made prior to the withdrawal. The Bonds will be delivered within 30 days of the date of sale at the offices of the City's bond counsel, Lowenstein, Sandler, Kohl, Fisher & Boylan, Roseland, New Jersey or at such other place as may be agreed upon with the successful bidder. PAYMENT FOR THE BONDS AT THE TIME OF ORIGINAL ISSUANCE AND DELIVERY SHALL BE BY I WIRE IN IMMEDIATELY AVAILABLE FUNDS. Each proposal must be enclosed in a sealed envelope and should be marked on the outside "Proposal for Bonds". If mailed, proposals should be addressed to the undersigned, c/o John L. Kraft, Esq. , at the offices of the City's Bond Counsel, Lowenstein, Sandler, Kohl, Fisher & Boylan, Roseland, New Jersey 07068. The successful bidder at its option may refuse to accept the Bonds if prior to their delivery any change in the Internal Revenue Code of 1986, as amended (the "Code") shall provide that the interest thereon is includable or shall be includable in gross income at a future date for federal income tax purposes. In such case the deposit made by the bidder shall be returned and the bidder will be relieved of its contractual obligations arising from the acceptance of its proposal. If the Bonds qualify for issuance of any policy of municipal bond insurance, the purchaser of the Bonds may, at its sole option and expense, purchase such insurance. Any failure of the bonds to be so insured shall not in any way relieve the purchaser of its contractual obligations arising from the acceptance of its proposal for the purchase of the bonds. It is anticipated that CUSIP identification numbers will be I printed on the Bonds. The CUSIP Service Bureau charge for the assignment of the numbers shall be the responsibility of and shall be paid for by the purchaser. The obligation hereunder to deliver and to accept the Bonds shall be conditioned on the availability and the delivery at the time of delivery of the Bonds of the approving opinion of the law firm of Lowenstein, Sandler, Kohl, Fisher & Boylan, Roseland, New Jersey, which will be furnished without cost to the successful bidder, such opinion to be substantially in the form set forth in the Official Statement distributed in preliminary form in connection with the sale of the Bonds and certificates in form satisfactory to that law firm evidencing the proper execution and delivery of the Bonds, the receipt of payment therefor, the compliance with the requirements of the Code necessary to preserve tax exemption and the absence of litigation pending or (to the knowledge of the signer or signers thereof) threatened affecting the validity of t�e Bonds. A copy of the approving opinion will appear on or be attached to the Bonds. The Bonds are subj ect to the requirements of SEC Rule 1 5c2-12 with respect to Secondary Market Disclosure. The obligation to accept delivery of the Bonds is conditioned upon delivery to the purchaser of a written undertaking by the City to provide Secondary Market Disclosure as set forth in SEC Rule 15c2-12, in form I approved by Bond Counsel. The City has authorized the distribution of a preliminary official statement deemed final for purposes of Rule 15c2-12 of the Securities and Exchange Commission. Final official statements will be delivered to the purchaser of the Bonds within the earlier of seven business days following the sale of the Bonds. The successful bidder will be required to certify the initial offering prices to the public (excluding bond houses and brokers)  at which a substantial amount of the Bonds of each maturity were sold. Isl LOUIS J. GARBACCIO Chief Financial Officer Section 10. The Sununary of Notice of Sale shall be substantially in the following form: CITY OF HACKENSACK, IN THE COUNTY OF BERGEN, I NEW JERSEY SUMMARY OF NOTICE OF $12,445,000 GENERAL OBLIGATION BOND SALE CONSISTING OF $9,695,000 GENERAL IMPROVEMENT BONDS AND $2,750,000 PARKING UTILITY BONDS CALLABLE BOOK-ENTRY BONDS (NOT BANK QUALIFIED) SEALED PROPOSALS will be received by the Chief Financial Officer of the City of Hackensack, in the County of Bergen, New Jersey (the "City") at the offices of the City's Bond Counsel, Lowenstein, Sandler, Kohl, Fisher & Boylan, Roseland, New Jersey 07068 on Wednesday, March 18 , 1998, until 11: 00 a. m. for the purchase of the above Bonds of the City dated March 15, 1998 and due (subj ect to redemption) on March as Follows: The combined maturity schedule for the Bonds is as follows: Year Principal Amount Year Principal Amount 1 999 $425,000 2009 $650,000 I 2000 425,000 2010 650,000 2001 450,000 2011 700,000 2002 475,000 2012 700,000 2003 500,000 2013 750,000 2004 500,000 2014 750,000 2005 525,000 2015 750,000 2006 550,000 2016 750,000 2007 650,000 2017 800,000 2008 650,000 2018 795,000 The Bonds will be issued in book-entry form only, in the form of one certificate for the aggregate principal amount of each series of Bonds maturing in each year. The City will furnish the Bonds and the approving legal opinion of Lowenstein, Sandler, Kohl, Fisher & Boylan. The Bonds will bear interest at a rate of interest in a multiple of 118 or 1120 of 1% per annum specified by the successful bidder payable on September 15, 1998 and semi-annually thereafter on fifteenth days of March and September in each year until maturity. The Bonds will be sold to the bidder specifying the lowest rate of interest in accordance with the Notice of Sale. The Bonds are subj ect to redemption at the option of the City in accordance with the Notice of Sale. I The Bonds are subj ect to the requirements of SEC Rule 15c2-12 with respect to Secondary Market Disclosure. The Notice of Sale, the Official Statement and bid forms are available by contacting Louis J. Garbaccio, Chief Financial Officer at the City of Hackensack, 65 Central Avenue, Hackensack, New Jersey 07601 (201) 646-3935. Isl LOUIS J. GARBACCIO Chief Financial Officer  Section 11. The Bonds shall have printed thereon or attached thereto a copy of the written opinion with respect to the Bonds that is to be rendered by the law firm of Lowenstein, Sandler, Kohl, Fisher & Boylan, complete except for omission of its date. Section 12. The law firm of Lowenstein, Sandler, Kohl, Fisher & Boylan is authorized to arrange for the printing of the Bonds and the printing of the Official Statement to be prepared by the Auditor and City Official. Lowenstein, Sandler, Kohl,- Fisher & Boylan is also authorized to arrange for the distribution of the I Preliminary Official Statement on behalf of the City to those financial institutions that customarily submit bids for such Bonds. The Mayor and the Chief Financial Officer are authorized to execute any certificates necessary in connection with the distribution of the Official Statement. Section 13. The City's Auditor is authorized to apply for a rating on the Bonds from Moody's Investors Service and Standard & Poor's Corporation. Section 14. The City hereby covenants that it will comply with any conditions subsequent imposed by the Code in order to preserve the exemption from taxation of interest on the Bonds, including the requirement to rebate all net investment earnings on the gross proceeds above the yield on the Bonds. Section 15. The City is hereby authorized to make representations and warranties, to enter into agreements and to make all arrangements with The Depository Trust Company, New York, New York, as may be necessary in order to provide that the Bonds will Be eligible for deposit with The Depository Trust Company and to satisfy any obligation undertaken in connection therewith. Section 16. In the event that The Depository Trust Company may determine to discontinue providing its service with respect to I Bonds or is removed by the City and if no successor Securities Depository is appointed, the Bonds which were previously issued in book-entry form shall be registered in names of the beneficial owners under the book-entry system. Upon such registration, the beneficial owners, will become the Registered Owners of the Bonds. The City shall be obligated to provide for the execution and delivery of the new registered Bonds without charge to the beneficial owners. Section 17. The City shall enter into an undertaking to provide Secondary Market Disclosure as required by SEC Rule 15c2- 1 2. The Mayor and the Chief Financial Officer are authorized to execute the undertaking on behalf of the City. Section 18. This resolution shall take effect immediately. Roll Call - Ayes - Galvis, Trammell, Stein, Zisa Absent - Maattei RESOLUTION #62 OFFERED BY: STEIN SECONDED BY: TRAMMELL RESOLUTION PROVIDING FOR THE COMBINATION OF CERTAIN ISSUES OF GENERAL IMPROVEMENT BONDS AND PARKING UTILITY BONDS OF THE CITY OF HACKENSACK, IN THE COUNTY OF BERGEN, NEW JERSEY INTO TWO SEPARATE ISSUES OF BONDS AGGREGATING $12,445,000 IN PRINCIPAL AMOUNT. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF HACKENSACK, IN THE COUNTY OF BERGEN, NEW JERSEY AS FOLLOWS: I Section 1. Pursuant to the provisions of N. J. S. A. 40A: 2-26 (f), General Improvement Bonds of the City of Hackensack in the County of Bergen, New Jersey (the "City") authorized pursuant to the following bond ordinances of the City, shall be combined into a single issue of General Improvement Bonds in the principal amount of $9,695,000:  Description of Improvement and Principal Amount Number of Date of Adoption Useful of Bonds Ordinance of Ordinance Life $ 500,000 5-89 Providing for 40 years various improvements to the sewage system, finally adopted March 20, 1989 I $ 657,000 12-92 as supplemented by Bond Providing for various capital improvements, finally 10 years Ordinance adopted August 17, No. 23-94 1992, as supplemented on July 18, 1994 $ 165,000 13-92 Providing for 7. 78 years various capital improvements, finally adopted October 5, 1994 $5,199,000 5-93 as Providing for the 30 years supplemented construction of a Bond Ordinance DPW facility, finally No. 13-94 adopted June 21, 1993, as supplemented on April 4, 1993 $ 332,000 9-93 Providing for 8. 33 years various capital improvements, finally adopted I August 2, 1 993 $ 238,000 14-93 Providing for the 10 years repaving of various streets and parking areas, finally adopted November 15, 1993 $ 280,000 12-94 Providing for the 10 years acquisition of a fire pumper truck, finally adopted March 21, 1994 $ 137,000 16-94 Providing for the 10 years reconstruction of West Railroad Avenue, finally adopted April 18, 1994 $ 317,000 24-94 Providing for the 5. 53 years various capital improvements, finally adopted July 18, 1994 I $ 605,000 26-94 Providing for the 10 years 1994 Road Resurfacing and Reconstruction Program, finally adopted September 7, 1994 $ 230,000 2-95 Providing for the 10 years resurfacing of a portion of State Street, finally adopted April 3, 1995 $ 157, 0 0 0 6-95 Providing for the 1 0 years acquisition and the installation of a computer system for the Conununity Development Department, finally adopted April 3, 1995 I $ 665,0 0 0 1 0 -95 Providing for 8. 87 years various capital improvements, finally adopted June 19, 1995 $ 213,0 0 0 5-96 Providing for sewer 40 years improvements to Anderson and Court Street Pumping Stations, finally adopted February 20, 1996 $9,695,0 0 0 22. 61 Section 2. Pursuant to the provisions of N. J. S. A. 40A2-26 (f ) , Parking Utility Bonds of the City authorized pursuant to the following ordinances of the City, shall be combined into a single issue of Parking Utility Bonds in the principal amount of $2,750,0 0 0 : Description of Improvement and Principal Amount Number of Date of Adoption Useful of Bonds Ordinance of Ordinance Life $2,550,0 0 0 13-88 Providing for the 30 years I construction of a four-tiered open parking structure, finally adopted June 20, 1988 $ 200 , 0 00 26-95 Providing for the 40 years acquisition of land, finally adopted November 20, 1995 $2,750,0 0 0 30. 72 Section 3. The General Improvement Bonds and the Parking Utility Bonds are hereinafter collectively sometimes referred to as the "Bonds" . Section 4. The following matters are hereby determined with respect to the combined issue of Bonds: (a ) The average period of usefulness of the General Improvement Bonds is 22 . 61 years. (b ) The average period of usefulness of the Parking Utility Bonds is 30 . 72 years (c ) The Bonds of the combined issues shall be sold and issued in accordance with the provisions of the Local Bond Law applicable I to the sale and the issuance of bonds authorized by a single bond ordinance and, accordingly , may be sold with other issues of bonds. Section 5. The following additional matters are hereby determined, declared, recited and stated. (a ) None of the Bonds described in this resolution have been sold or issued, and the bond ordinances described in this  resolution have not been rescinded and now remain in full force and effect as authorizations for the respective amounts of bonds set opposite the descriptions of the bond ordinances . (b) The purposes or improvements authorized by the respective bond ordinances described in this resolution hereof are purposes for which bonds may be issued pursuant to the Local Bond Law and are all purposes for which no deduction has been taken in any I annual or supplemental debt statement . Section 6. This resolution shall take effect immediately . Roll Call - Ayes - Galvis, Trammell, Stein, Zisa Absent - Mattei RESOLUTION #63 OFFERED BY: STEIN SECONDED BY: TRAMMELL WHEREAS, on December 15, 1 9 9 7, bids were received for the construction of CSO Screening Facilities at Court Street and Anderson Street in the City of Hackensack, and WHEREAS, said bids substantially exceed the cost estimates for the proj ect and the funds available for the project ; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Hackensack that all bids received by the City on December 15, 1 9 9 7 , for the construction of CSO Screening Facilities at Court Street and Anderson Street, be and hereby are rej ected ; and BE IT FURTHER RESOLVED that the appropriate City Officials take all necessary actions to re-bid the project . Roll Call : Ayes - Galvis, Trammell, Stein, Zisa I Absent - Mattei The introduction of the 1 9 98 Municipal Budget, offered by Stein, seconded by Trammell is on file in the office of the City Clerk as a permanent record . Mrs . Dukes advised the Mayor that her Docket was completed . Mayor Zisa thanked her and thanked the City Manager for give us a zero increase in the budget for 1 9 98. He asked the City Manager if he had anything to report. Mr . Lacava stated a $150,000 in aid was received today from the state. It will be included when the budget is adopted . Mayor Zisa asked the Attorney and members of Council if they had anything to report . They did not . The Mayor opened the meeting to the public for discussion of City business . Sam Cassius, Clay Street, advised that the sewer problem on Clay Street still exists . Mayor Zisa said there is an on-going investigation toward a resolving the problem . I Jack Donovan, Willow Avenue, again addressed City employees moving out of the City because of taxes . Dorothy Schwartz, 4 7 Prospect Avenue, spoke on the CPI figure for rental increases . · Deborah Green, Attorney representing Carbro Construction, the low ' bidder on the CSO proj ect . She obj ected to all bids being rej ected . She submitted a letter to the effect .  City Attorney Salkin pointed' out that the bid prices exceeded the minimum cost estimate. The City did not have the funds to award a contract. The low bid did not require a hearing. Motion offered by Stein, seconded by Galvis, that the public hearing be closed and the meeting be adj ourned. Carried (9: 15 P. M) MAY ��I �A I ATTEST: I I