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 Monday, November 5th, 2001, at 8:00 P. M. Mayor Zisa called the meeting to order and asked everyone to stand for the flag salute. The Mayor then asked the City Clerk to call the roll. Present - Councilmen Roger B. Mattei and Jesus R. Galvis, I Deputy Mayor Juanita Trammell, Councilman Mark A. F. Zisa, City Manager and City Attorney Richard E. Salkin. James S. Lacava, City Stein, Mayor John Clerk Doris L. Dukes 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 meeting held October 15th, 2001. Motion offered by Stein, seconded by Trammell that the minutes be approved as submitted. Carried. FINAL ADO PTION OF ORDINANCE NO. 9-2001 ENTITLED: " BOND ORDINANCE PROVIDING FOR THE RE CONSTRUCTION OF CHURCH STREET AND MOORE STREET IN AND BY THE CITY OF HA C KENSA C K, IN THE COUNTY OF BERGEN, NEW JERSEY, A P PROPRIATING $147,000 THERE FOR, IN CLUDING $99,000 EXPE CTED TO BE RE CEIVED FROM THE STATE OF NEW JERSEY DE PARTMENT OF TRANS PORTATION AND AUTHORIZING THE ISSUANCE OF $140,000 BONDS OR NOTES OF THE CITY T O FINANCE PART OF THE COST I THEREOF". Mayor Zisa: "This ordinance has been advertised pursuant to law and now calls for a public hearing. Will someone so move?" Motion offered by Stein, seconded by Mattei, that there be a public hearing. Carried Mayor Zisa asked if anyone wished to he heard on this ordinance. There was no response. Motion offered by Trammell, seconded by Mattei, that the public hearing be closed. Carried RESOLUTION #288 O F FERED BY: MATTEI SECONDED BY: STEIN BE IT RESOLVED by the City Council of the City of Hackensack, County of Bergen and State of New Jersey, that Ordinance No. 9-2001 entitled: " BOND ORDINANCE PROVIDING FOR THE RE CONSTRUCTION OF CHURCH STREET AND MOORE STREET I N AND BY THE CITY OF HACKENSA CK, IN THE COUNTY OF BERGEN, NEW JERSEY, A P PRO PRIATING $147,000 THEREFOR, I INCLUDING $99,000 EXPE CTED TO BE RE CEIVED FROM THE STATE OF NEW JERSEY DE PARTMENT OF TRANS PORTAION AND AUTHORIZING THE ISSUANCE O F $140,000 BONDS OR NOTES OF THE CITY TO FINANCE PART OF THE COST THEREOF", pass its second and final reading and is hereby adopted. Roll Call: Ayes - Mattei, Galvis, Trammell, Stein, Zisa FINAL ADO PTION OF ORDINANCE NO. 10-2001 ENTITLED: "BOND ORDINANCE PROVIDING A SUP PLEMENTAL A P PRO PRIATION OF $157,500 FOR THE RENOVATIONS TO THE FORMER BRANCH LIBRARY IN AND BY THE CITY O F HACKENSA CK, IN THE COUNTY O F BERGEN, NEW JERSEY AND AURHORIZING THE ISSUANCE OF $ 150,000 BONDS OR NOTES OF THE CITY FOR FINANCING PART OF THE APPROPRIATION". Mayor Zisa: "This ordinance has been advertised pursuant to law and now calls for a public hearing. Will someone so move?" Motion offered by Trammell, seconded by Stein, that there be a public hearing. Carried Mayor Zisa asked if anyone wished be heard on this ordinance. Len Nix, 83 Elm Avenue asked the total cost for this proj ect and was advised by the City Manager that it was about $250,000.00 I of which, almost all of it comes from grant monies. Motion offered by Galvis, seconded by Trammell, that the public hearing be closed. Carried RESOLUTION #289 OFFERED BY: STEIN SECONDED BY: TRAMMELL BE IT RESOLVED by the City Council of the City of Hackensack, County of Bergen and State of New Jersey, that Ordinance No. 10- 2001 entitled: "BOND ORDINANCE PROVIDING A SUPPLEMENTAL APPROPRIATION OF $157,500 FOR THE RENOVATIONS TO THE FORMER BRANCH LIBRARY IN AND BY THE CITY OF HACKENSACK IN THE COUNTY OF BERGEN, NEW JERSEY AND AUTHORIZING THE ISSUANCE OF $150,000 BONDS OR NOTES OF THE CITY FOR FINANCING PART OF THE APPROPRIATION", pass its second and final reading and is hereby adopted. Roll Call: Ayes - Mattei, Galvis, Trammell, Stein, Zisa FINAL ADOPTION OF ORDINANCE NO. 11-2001 ENTITLED: "BOND ORDINANCE PROVIDING FOR VARIOUS CAPITAL IMPROVEMENTS BY THE CITY OF HACKENSACK, IN THE COUNTY OF BERGEN, NEW JERSEY, APPROPRIATING THE AGGREGATE AMOUNT OF $ 1,348,200 THEREFOR AND AUTHORIZING THE I ISSUANCE OF $1,284,000 BONDS OR NOTES OF THE CITY TO FINANCE PART OF THE COST THEREOF". Mayor Zisa: "This ordinance has been advertised pursuant to law and now call for a public hearing. Will someone so move?" Motion offered by Galvis, seconded by Mattei that there be a public hearing. Carried Mayor Zisa asked if anyone wished to be heard on this ordinance. Len Nix, 83 Elm Avenue, asked several questions relative to what the funds in this ordinance would be used for. The Mayor and City Attorney responded to his questions. Motion offered by Galvis, seconded by Stein, that the public hearing be closed. Carried RESOLUTION #290 OFFERED BY: MATTEI SECONDED BY: STEIN I BE IT RESOLVED by the City Council of the City of Hackensack, County of Bergen and State of New Jersey, that Ordinance No. 11- 2001 entitled: "BOND ORDINANCE PROVIDING FOR VARIOUS CAPITAL IMPROVEMENTS BY THE CITY OF HACKENSACK, IN THE COUNTY OF BERGEN, NEW JERSEY, APPROPRIATING THE AGGREGATE AMOUNT OF $1,348,200 THEREFOR AND AUTHORIZING THE ISSUANCE OF $1,284,000 BONDS OR NOTES OF THE CITY TO FINANCE PART OF THE COST, THEREOF", pass its second  and final reading and is hereby adopted. Roll Call: Ayes - Mattei, Galvis, Trammell, Stein, Zisa RESOLUTION #291 OFFERED BY: TRAMMELL SECONDED BY: GALVIS 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 reason stated: I AMOUNT $1,817.40 BLOCK LOT 605 11 NAME Wallace, Fred & Mary YEAR 2001 REASON Err.Pmt. 542.48 238 5C014D Moffet, Karen 2001 Err.Pmt. 636.89 238 5C005E Wells Fargo Home Mtg. 2001 Err.Pmt. 1,000.00 341 8C005H GE Capital 2001 Err.Pmt. 1,000.00 341 8C006H GE Capital 2001 Err.Pmt 1,062.00 341 8C011H GE Capital 2001 Err.Pmt. 917.00 341 8COS5C GE Capital 2001 Err.Pmt. 829.00 214 16C0001 Transamerica Real Estate 1999 Err.Pmt. Tax Service 418.00 540 16AC0019 Transamerica Real Estate 1999 Err.Pmt. Tax Service 422.00 540 16AC0019 Transamerica Real Estate 1998 Err.Pmt. Tax Service $45.00 to Jennifer Mahon, 489 Essex Street, Apartment 10, for adult tennis lessons which were cancelled. $40.00 to Andee Post, 319 Clinton Place, for Brenna Thompson's registration for Hackensack Junior Cheerleading. I $26.05 to United Healthcare Insurance Company, Check Control, P. O. Box 740819, Atlanta, GA, reimbursement for an overpayment on claim #12331-309789- 1. Roll Call: Ayes - Mattei, Galvis, Trammell, Stein, Zisa RESOLUTION #292 OFFERED BY: TRAMMELL SECONDED BY: MATTEI WHEREAS, N. J. S. 40A:4-87 provides that the Director of the Division of Local Government Services may approve the insertion of any special item of revenue in the budget of any municipality when such item shall have been made available by law and the amount thereof was not determined at the time of the adoption of the budget; and WHEREAS, said Director may also approve the insertion of any item of appropriation for an equal amount; and WHEREAS, the City received $204.00 from the State of New Jersey in additional Public Health Priority Funding and wishes to amend its 2001 CY Budget to include this amount as revenue; and I NOW, THEREFORE, BE IT RESOLVED that the Mayor and Council of the City of Hackensack, hereby request the Director of the Division of Local Government Services to approve the insertion of an item of revenue in the budget of the year 2001 in the sum of $204.00, which is now available as a revenue from: Miscellaneous Revenues - Special items of General Revenue anticipated with prior written consent of the Director of Local Government Services: State and Federal Revenues Off-Set with Appropriations: Public Health Priority Funding 1977;  BE IT FURTHER RESOLVED, that a like sum of $204. 00 be and the same is hereby appropriated under the caption of: General Appropriations: (a) Operations Excluded from 5% Caps, State and Federal Programs Off-Set by Revenues: Municipal Debt Service Public Health Priority Funding 1977; BE IT FURTHER RESOLVED, that the City Clerk forward two copies of this resolution to the director of Local Government Services. Roll Call: Ayes - Mattei, Galvis, Trammell, Stein, Zisa RESOLUTION #293 OFFERED BY: STEIN SECONDED BY: GALVIS I WHEREAS, N. J.S. 40A:4-87 provides that the Director of the Division of Local Government Services may approve the insertion of any special item of revenue in the budget of any municipality when such item shall have been made available by law and the amount thereof was not determined at the time of the adoption of the budget; and WHEREAS, said Director may also approve the insertion of any item of appropriation for an equal amount; and WHEREAS, the City received $88,000.00 from the Attorney of a Redeveloper for repayment of debt used to purchase land and wishes to amend its 2001 CY budget to include this amount as a revenue; NOW, THEREFORE, BE IT RESOLVED that the Mayor and Council of the City of Hackensack, hereby request the Director of the Division of Local Government Services to approve the insertion of an item of revenue in the budget of the year 2001 in the sum of $88,000.00, which is now available as a revenue from: Miscellaneous Revenues Special Items of General Revenue anticipated with prior written consent of the Director of Local Government Services: Federal Revenues Off-Set with Appropriations: State and Reserve to pay I Bonds and Notes; BE IT FURTHER RESOLVED that a like sum of $88,000.00 be and the same is hereby appropriated under the caption of - General Appropriations: (a) Operations excluded from 5% caps, State and Federal Programs Off-set by revenues: Municipal Debt Service, Payment of Bond Anticipation Notes and Capital Notes; BE IT FURTHER RESOLVED that the City Clerk forward two copies of this resolution to the Director of Local Government Services. Roll Call: Ayes - Mattei, Galvis, Trammell, Stein, Zisa RESOLUTION #294 OFFERED BY: TRAMMELL SECONDED BY: STEIN WHEREAS, on October 15, 2001, $85,453.40 was refunded to Winne, Banta, Rizzi, Hetherington & Basralian representing a State Tax Judgment on Block 500A Lot 1 for Venture Hackensack Holding and I 5% interest in the amount of $8,475.18, should have been included; NOW, THEREFORE, BE IT RESOLVED that interest in the amount of $8,475.18, which was inadvertently overlooked be forwarded to the above mentioned attorneys. Roll Call: Ayes - Mattei, Galvis, Trammell, Stein, Zisa RESOLUTION #295 OFFERED BY: MATTEI SECONDED BY: GALVIS WHEREAS, effective August 13, 2001, Block 556, Lot 94, owned  by Edwin & Elsie Bilof was classified as an exempt property by the Tax Assessor; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Hackensack that the proper officers be and are hereby authorized to decrease the tax levy for the year 2001 in the amount of $2396. 62 and refund $833. 62 to the owner for an overpayment of the third quarter taxes. Roll Call: Ayes - Mattei, Galvis, Trammell, Stein, Zisa I RESOLUTION #296 OFFERED BY: MATTEI SECONDED BY: TRAMMELL WHEREAS, the Health Department has a need to provide an influenza and pneumonia immunization program for the senior citizens of Hackensack; and WHEREAS, the Aetna U. S. Health Care, provides financial reimbursement to public health agencies who provides these services to their Medicare eligible senior citizens; and NOW, THEREFORE, BE IT RESOLVED that the Mayor and Council of the City of Hackensack, hereby enter into an agreement with Aetna U. S. Health Care to obtain reimbursement for influenza and pneumonia immunizations administered by the Health Department to Aetna Health Care clients; and BE IT FURTHER RESOLVED that the Mayor and City Clerk are hereby authorized to execute all applicable documents necessary to implement this program. Roll Call: Ayes - Mattei, Galvis, Trammell, Stein, Zisa RESOLUTION #297 OFFERED BY: GALVIS SECONDED BY: STEIN BE IT RESOLVED by the City Council of the City of Hackensack that Deputy Fire Chief Bruce Goldberg, be and is hereby appointed as the Emergency Management Coordinator for the City of Hackensack; and to serve at the pleasure of the City Council. Roll Call: Ayes - Mattei, Galvis, Trammell, Stein, Zisa RESOLUTION #298 OFFERED BY: MATTEI SECONDED BY: TRAMMELL WHEREAS, the police departments in Bergen County have a day­ to-day responsibility to provide for the security of lives and property, for the maintenance and preservation of the public peace and order; and WHEREAS, Law Enforcement officials also have a responsibility to provide for preparedness against natural emergencies, such as floods, hurricanes, earthquakes, etc. , man made causes, such as riot, strikes, jail or prison riots, train wrecks, aircraft I crashes, major fires, ethnic disorders, terrorists incidents and bombings, state and national emergencies; and WHEREAS, the Bergen County Police Chief's Association has proposed a Mutual aid Plan and Rapid Deployment Force to deal with these emergencies which is adopted in accordance with the provisions of N. J. S. A. 40A:l4-156, N. J. S. A. 40A-156. l, N. J. S. A. 40A:l4-156.4 and N. J. S.A. App. A:9-40. 6, and WHEREAS, the plan will provide a uniform procedure for the coordination of the requesting, dispatching, and utilization of law enforcement personnel and equipment whenever a local law enforcement agency requires mutual aid assistance from any other j urisdiction, in the event of an emergency in order to protect life and property; and WHEREAS, it is the desire of the Mayor and Council of the City of Hackensack to participate in a Mutual Aid Plan and Rapid Deployment Force. NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council of the City of Hackensack that the Police Department of the City of Hackensack, under the direction of the Chief of Police, cooperate with the Bergen County Police Chief's Association to create an I Inter-local Services Agreement with all municipalities in the County of Bergen to put into place the Mutual Aid Plan and Rapid Deployment force; and BE IT FURTHER RESOLVED that a copy of this resolution be forwarded to the County Executive, Board of Chosen Freeholders, the County Prosecutor, and all municipalities in the County of Bergen. Roll Call: Ayes - Mattei, Galvis, Trammell, Stein, Zisa RESOLUTION #299 OFFERED BY: STEIN SECONDED BY: TRAMMELL Resolution providing for the combination of certain issues of General Improvement Bonds of the City of Hackensack, in the County of Bergen, New Jersey into a single issue of bonds aggregating $6,558,000 in principal amount. BE IT RESOLVED by the Mayor and Council of the City of Hackensack, in the County of Bergen, New Jersey as follows: Section 1. Pursuant to the provisions of N.J.S.A. 40A:2- 26 (f), General Improvement Bonds (the "Bonds") of the City of Hackensack (the "City") authori�ed 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 $6,558,000: Section 2. The principal amount of Bonds authorized by each ordinance to be combined into a single issue as above provided, the bond ordinances authorizing the Bonds described by reference to the number, the improvement description and the date of adoption, and the period of usefulness determined in each of the bond ordinances are respectively as follows: Principal Amount Number of Description of Improvement & Useful Of Bonds Ordinance Date of Adoption of Ordinance Life $ 34,500 2-93 Providing for various park 15 years improvements, finally adopted 4/19/93 $47,000 3-95 Providing for the reconstruc­ 10 years tion and resurfacing of port­ I ions of various streets, finally adopted 4/3/95 $151,000 4-95 Providing for the construc­ 10 years tion of barrier-free access to City-owned facilities, finally Adopted 4/3/95 $396,000 18-96 Providing for various capital 7.10 years improvements, finally adopted 10/21/96  $ 38,000 20-96 Providing for renovations to 15 years the former branch library, finally adopted 10/21/96 $123,000 21-96 Providing for curb improvements 10 years to various streets, finally adopted. 10/21/96 $462,500 4-97 Providing for sewer improvements 40 years to various roads, finally adopted 4/7/97 I $ 75,000 5-97 Providing for the resurfacing of 10 years Prospect Avenue, finally adopted 4/7/97 $ 77,000 19-97 Providing for the reconstruction 20 years and paving of West Pleasant Ave. finally adopted 9/15/97 $575,000 3-98 Providing for various capital 12.93 years improvements, finally adopted 1/20/98 $711,000 5-98 Providing for the acquisition 5 years of automated garbage collection vehicles and related equipment finally adopted 4/20/98 $118,000 7-98 Providing for preliminary 15 years assessment and site investiga- tion of DPW Building, finally adopted 5/18/98 $350,000 8-98 Providing for improvements to 40 years Kennedy Street Pump Station, Finally adopted 5/18/98 I $400,000 11-98 Providing for improvements to 20 years City Hall Complex, finally adopted 6/15/98 $150,000 12-98 Providing for various capital 24 years improvements, finally adopted 6/15/98 $750,000 24-99 Providing for various capital 10.01 years improvements, finally adopted 6/21/99 $400,000 25-99 Providing for the relining of 40 years brick-lined sewers, finally adopted 7/19/99 $1,700,000 7-00 Providing for various capital 11 years improvements, finally adopted 7/17/00 $6,558,000 16.53 years Section 3. The following matters are hereby determined with respect to the combined issue of Bonds: (a) The average period of usefulness, computed on the basis of I the respective amounts of Bonds presently authorized to be issued pursuant to each of the bond ordinances and the respective periods or average period of usefulness therein determined, is 16.53 years. (b) The Bonds of the combined issue shall be designated "General Improvement Bonds" and shall mature within the average period of usefulness herein determined. {c) The Bonds of the combined issue shall be sold and issued in accordance with the provisions of the Local Bond Law applicable 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 4. The following additional matters are hereby determined, declared, recited and stated: (a) None of the Bonds described in Section 2 hereof has been sold or issued heretofore, and the several bond ordinances described in Section 2 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 in Section 2. I (b) The several purposes or improvements authorized by the respective bond ordinances described in Section 2 hereof are purposes for which bonds may be issued lawfully pursuant to the Local Bond Law and are all purposes for which no deduction may be taken in any annual or supplemental debt statement. Section 5. This resolution shall take effect immediately. Roll Call: Ayes - Mattei, Galvis, Trammell, Stein, Zisa RESOLUTION #300 OFFERED BY: MATTEI SECONDED BY: STEIN Resolution determining the form and other details of $7,383,000 General Obligation Bonds consisting of $6,558, 000. General Improvement Bonds and $825,000 Parking Utility Bonds of the City of Hackensack, in the County of Bergen, New Jersey and providing for their Sale. BE IT RESOLVED by the Mayor and Council of the City of Hackensack, in the County of Bergen, New Jersey as follows: Section 1. The $6,558,000 General Improvement Bonds of the I City of Hackensack, (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 November 5, 2001 and entitled, "Resolution Providing for the Combination of Certain Issues of General Improvement Bonds of the City of Hackensack, New Jersey into a single issue of Bonds Aggregating $6,558,000 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 November 15 in each of the years as follows: YEAR PRINCIPAL AMOUNT YEAR PRINCIPAL AMOUNT 2002 $375,000 2008 $550,000 2003 $400,000 2009 $600,000 2004 $425,000 2010 $650,000 2005 $450,000 2011 $700,000 2006 $475,000 2012 $700,000 I 2007 $500,000 2013 $733,000 The General Improvement Bonds shall not be subj ect to redemption prior to maturity. The General Improvement Bonds shall be twelve in number, with one certificate being issued for each year of maturity, and shall be numbered GI-1 to GI-12, inclusive. Section 2. The $825,000 Parking Utility Bonds of the City referred to and described in Bond Ordinance NO. 5-2000 of the City finally adopted March 20, 2000, in all respects duly approved and published as required by law, shall be issued as parking utility  bonds (hereinafter referred to as the "Parking Utility Bonds"). The Parking Utility Bonds shall mature in the principal amounts on November 15 in each of the years as follows: YEAR PRINCIPAL AMOUNT YEAR PRINCIPAL AMOUNT 2002 $50,000 2007 $ 90,000 2003 $65,000 2008 $ 95,000 2004 $70,000 2009 $ 95,000 2005 $75,000 2010 $ 100,000 I 2006 $85,000 2011 $ 100,000 The Parking Utility Bonds shall not be subj ect to redemption prior to maturity. The Parking Utility Bonds shall be ten in number, with one certificate being issued for each year of maturity, and shall be numbered PU-1 to PU-10, inclusive. Section 3. The General Improvement Bonds and the Parking Utility Bonds collectively are sometimes referred to hereinafter as the "Bonds". Section 4. The Bonds will be issued in fully registered form. 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 be 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 responsible for maintaining records recording I 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 May 15, 2002 and semiannually thereafter on the fifteenth days of November and May 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 November 1 and May 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 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 I Depository Trust Company: REGISTERED REGISTERED NUMBER A. $ UN ITED STATES OF AMERICA STATE OF NEW JERSEY COUNTY OF BERGEN C ITY OF HACKENSACK B. BOND DATE OF INTEREST ORIGINAL MATURITY RATE ISSUE: DATE: PER ANNUM: CUSIP: November 15, 2001 November 15, % CITY OF HACKENSACK, 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 this bond until it matures at the Interest rates Per Annum specified above on May 15, 2002 and semiannually thereafter on the fifteenth days of November I and May in each year until maturity. Interest on this Bond will be mailed by the City to the registered Owner as of November 1 and May 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 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 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. This Bond is not subject to redemption prior to maturity. C. The full faith and credit of the City are hereby I irrevocably 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 performed and that 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. IN WITNESS WHEREOF, the CITY OF HACKENSACK 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 hereunto 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 I above. CITY OF HACKENSACK ATTEST: Mayor By: ���� City Clerk Chief Financial Officer (Assignment Provision on Back of Bond)  ASSIGNMENT FOR VALUE RECEIVED hereby assigns to 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 I particular. Dated: Signature Guarantee: Section 6. In each of the $ 6,558,000 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 C. This Bond is one of an authorized issue of bonds issued pursuant to the Local Bond Law of the State of New Jersey, a resolution of the City Council adopted November 5, 2001 and entitled, "Resolution Providing for the Combination of Certain Issues of General Improvement Bonds of the City of Hackensack, in the County of Bergen, New Jersey into a Single Issue of Bonds Aggregating $ 6,558,000 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"). Section 7. In each of the $825,000 Parking Utility Bonds the I following language the corresponding Section 5: should be letter in inserted in the places indicated by the form of the Bonds set forth in A. PU- B. Parking Utility Bond C. This Bond is one of an authorized issue of bonds issued pursuant to the Local Bond Law of the State of New Jersey, and Bond Ordinance No. 5-2000 of the City finally adopted March 20, 2000, in all respects duly approved and published as required by law (the "Authorization Proceedings"). Section 8. The Bonds shall be sold upon sealed proposals on November 27, 2001 at 11:30 a.m. by the Chief Financial Officer at the offices of the City's Bond Counsel, John L. Kraft, Esq., L.L.C., 325 Columbia Turnpike, Florham Park, New Jersey 07932 in accordance with the Notice of Sale authorized herein. The City Clerk is hereby directed to arrange for the publication of the Notice of Sale in the form provided in section 9 hereof in The Bergen Record and 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 I 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.40A2-34, the City Council hereby designates the Chief Financial Officer as financial officer to sell and to award the Bonds in accordance with the Notices 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 COUNTY OF BERGEN NEW JERSEY NOTICE OF SALE OF $7,383,000 GENERAL OBLIGATION BOND SALE CONSISTING OF $6,558,000 GENERAL IMPROVEMENT BONDS AND $825,000 PARKING UTILITY BONDS NONCALLABLE BOOK-ENTRY BONDS (BANK QUALIFIED) SEALED PROPOSALS will be received by the Chief Financial Officer of the City of Hackensack (the "City") at the offices of I the City's Bond Counsel, John L. Kraft, Esq. , L. L. C. , 325 Columbia Turnpike, Florham Park, New Jersey 07932 on Tuesday, November 27, 2001 until 11:30 a. m., at which time they will be publicly opened and announced for the purchase of the following Bonds of the City due (without subj ect to redemption) on November 15 as follows: General Improvement Bonds Year Principal Amount Year Principal Amount 2002 $375,000 2008 $550,000 2003 $400,000 2009 $600,000 2004 $425,000 2010 $650,000 2005 $450,000 2011 $700,000 2006 $475,000 2012 $700,000 2007 $500,000 2013 $733,000 Parking Utility Bonds Year Principal Amount Year Principal Amount 2002 $50,000 2007 $ 90,000 2003 $65,000 2008 $ 95,000 2004 $70,000 2009 $ 95,000 2005 2006 $75,000 $85,000 2010 2011 $100,000 $100,000 I The combined maturity schedule for the Bonds is as follows: YEAR PRINCIPAL AMOUNT YEAR PRINCIPAL AMOUNT 2002 $425,000 2008 $645,000 2003 $465, 000 2009 $695, 000 2004 $495,000 2010 $750,000 2005 $525,000 2011 $800,000 2006 $560,000 2012 $700,000 2007 $590,000 2013 $733,000 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 I York, which will act as securities depository. The Bonds will be on deposit with The Depository Trust Company. The Bonds will be dated November 15, 2001 and will bear interest at the rate per annum specified by the successful bidder therefore in accordance herewith, payable on May 15, 2002 and semiannually thereafter on the fifteenth days of November and May in each year until maturity to the registered Owner as of November 1 and May 1 next preceding each interest payment date. The principal of the Bonds, when due, will be payable at the City, upon surrender of the Bonds.  The Bonds are not subject to redemption prior to maturity. 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 bidder will accept, which shall be $7,383,000 or any lesser amount that is a multiple of $1,000, the Bonds accepted being the first to mature; and I c. The price the bidder will pay, than $7,383,000 nor more than $7,384,000. which shall be not less 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 therefore 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 among all such bidders. The purchaser 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 reject all bids, and any bid not complying with the terms of this notice will be rejected. Each bidder is required to deposit a certified, treasurer's or cashier's check payable to the order of the CITY OF HACKENSACK for $147,660 drawn upon a bank or trust company, and such check must be enclosed with the proposal. When the successful bidder has been I ascertained, persons making all such deposits will them, except the check be which will be applied in part payment for the Bonds or to secure promptly of the returned to successful bidder, the 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 rejection 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, John L. Kraft, Esq., L.L.C., Florham Park, 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 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. I Kraft, Esq. , at the offices of the City's Bond Counsel, John L. Kraft, Esq. , L.L.C. / 325 Columbia Turnpike, Florham Park, New Jersey 07932. 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 ineluctable 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 printed on the Bonds. The CUS IP Service Bureau charge for the assignment of the numbers shall be the responsibility of and shall be paid for by the purchaser. I 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 John L. Kraft, Esq. , L. L. C. , Florham Park, New Jersey, which will be furnished without cost to the succes,sful 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 therefore, the compliance with the requirements of the Code necessary to preserve tax exemption, the completeness and accuracy of the information contained in the Preliminary Official Statement and the Official Statement, and the absence of litigation pending or (to the knowledge of the signer or signers thereof) threatened affecting the validity of the Bonds. A copy of the approving opinion will appear on or be attached to the Bonds. The Bonds are subject to the requirements of SEC Rule 15c2-12 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 I Market Disclosure as set forth in SEC Rule 15c2-12, in form 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. The Bonds have been designated "qualified tax-exempt obligations" for the purposes of Section 265 (b) (3) (B) (ii) of the Code. /s/ LOUIS J. GARBACCIO I Chief Financial Officer Section 10. The Summary of Notice of Sale shall be substantially in the following form: CITY OF HACKENSACK, IN THE COUNTY OF BERGEN NEW JERSEY SUMMARY OF NOTICE OF SALE OF $7, 383, 000 GENERAL OBLIGATION BOND SALE CONSISTING OF $6, 558, 000 GENERAL IMPROVEMENT BONDS AND  $825,000 PARKING UTILITY BONDS NONCALLABLE - BOOK-ENTRY BONDS- (BANK QUALIFIED) SEALED PROPOSALS will be received by the Chief Financial Officer of the City of Hackensack (the "City") at the offices of the City's Bond Counsel, John L. Kraft, Esq., L.L.C., 325 Columbia Turnpike, Florham Park, New Jersey 07932 on Tuesday, November 27, 2001, until 11:30 a.m., for the purchase of the above Bonds of the city due (without subj ect to redemption) on November 15 as follows: General Improvement Bonds I Year Principal Amount Year Principal Amount 2002 $375,000 2008 $550,000 2003 $400,000 2009 $600,000 2004 $425,000 2010 $650,000 2005 $450,000 2011 $700,000 2006 $475,000 2012 $700,000 2007 $500,000 2013 $733,000 Parking Utility Bonds Year Principal Amount Year Principal Amount 2002 $50,000 2007 $ 90,000 2003 $65,000 2008 $ 95,000 2004 $70,000 2009 $ 95,000 2005 $75,000 2010 $100,000 2006 $85,000 2011 $100,000 The combined maturity schedule for the Bonds is as follows: Year Principal Amount Year Principal Amount 2002 $425,000 2008 $645,000 2003 $465,000 2009 $695,000 2004 $495,000 2010 $7 50,000 2005 $525,000 2011 $800,000 2006 $560,000 2012 $700,000 I 2007 $590,000 2013 $733,000 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 John L. Kraft, Esq., L.L.C., Florham Park, New Jersey 07932. The Bonds will bear interest at a rate of interest in a multiple of 1/8 or 1/20 of 1% per annum specified by the successful bidder payable on May 15, 2002, and semiannually thereafter on fifteenth days of November and May 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 not subject to redemption prior to maturity. The Bonds are subj ect to the requirements of SEC Rule 15c2-12 with respect to Secondary Market Disclosure. The Bonds have been designated "qualified tax-exempt I obligations" for the purposes of Section 265 (b) (3) (B) (ii) of the Code. 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. /S/ LOUIS J. GARBACCIO Chief Financial Officer Section 1 1. The Bonds shall have attached thereto a copy of the written opinion with respect to the Bonds that is to be rendered by John L. Kraft, Esq. , L. L. C. , complete except for omission of its date. Section 12. John L. Kraft, Esq. , L.L. C. ,is authorized to arrange for the preparation of the Bonds and the printing and distribution of the Preliminary Official Statement to be prepared by the City's auditor and City officials. The Mayor and the Chief Financial Officer are authorized to execute any certificates necessary in connection with the distribution of the Official Statement. I Section 13. The City's Auditor is authorized to apply for a rating on the Bonds from Moody's Investors Service. 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 the 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 the names of the beneficial owner under the book-entry system. Upon such registration, the I 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- 12. The Chief Financial Officer and the City Clerk are authorized to execute the undertaking on behalf of the City. Section 18. This resolution shall take effect immediately. The foregoing resolution was adopted by the following vote: Roll Call - Ayes: Mattei, Galvis, Trammell, Stein, Zisa Mrs. Dukes advised the Mayor that her docket was completed. I The Mayor thanked her and asked the City Manager, City Attorney and members of Council if they had anything to report. They did not. Mayor Zisa opened the meeting to the public for discussion of City business. Jack Donovan, Willow Avenue, made a statement to the Mayor and mentioned Geneva Youngblood's name which created anger from Ms. Youngblood. Mr. Donovan continued, and in the opinion of Mrs. Dukes, made insulting statements regarding the reading of the  resolutions by her. Councilman Mattei responded to his comments by stating that "Doris" has been named one of the best City Clerks in the State. Deputy Mayor Trammell agreed. Len Nix, 83 Elm Avenue, asked questions regarding the referendum on the ballot and the resolution for Malcom Pirnie to do the design work for the River Walkway project. The Mayor, City Attorney and Councilman Stein responded. I Allen Adler, 300 Lodi Street, read a statement and requested a resolution from the City Council opposing the oppression and persecution of Falun Gong and its followers in the Peoples Republic of China. Motion offered by Trammell, seconded by Mattei that the public hearing be closed and the meeting be adjourned. (Carried)9: 15 PM. � ISA COUNCILMAN MARK A. STEIN I GALVIS ATTEST: I