Borough Council

AGENDA COUNCIL BUSINESS MEETING June 26, 2024 1. Call Meeting to Order 2. Sunshine Law - Notice of this meeting has been duly advertised in compliance with the provisions of the open public meetings law. Please be advised that this meeting will be recorded for possible later playback. 3. Flag Salute 4. Roll Call 5. First Reading Ordinance 2024:19 Sewer Utility Improvements 6. First Reading Ordinance 2024:20 General Capital Improvements 7. CONSENT AGENDA: The items listed below are considered routine by the Borough of Lindenwold and will be enacted by one motion. There will be no formal discussion of these items. If discussion is desired, this item will be removed from the Consent Agenda and will be considered separately. Resolution 2024:121 – 2024:122 Resolution 2024:121 Award Professional Services Contract – Special Municipal Engineer Resolution 2024:122 Recind Pocket License Krish of Lindenwold LLC WHEREAS, the Mayor and Council of the Borough of Lindenwold approved and adopted Resolution 2024:113 on June 12, 2024, which, among other actions, granted a pocket liquor license to Krish of Lindenwold LLC (Topica), under license No. 0422-33-009-007, for the year 2024-2025; and WHEREAS, prior to the granting of the aforementioned pocket liquor license to Krish of Lindenwold LLC, the Borough engaged in due diligence and confirmed tax clearance by Krish of Lindenwold LLC, in order to confirm the pocket liquor license could be granted to Krish of Lindenwold LLC, and WHEREAS, subsequent to the Borough of Lindenwold adopting Resolution 2024:113, and granting the pocket liquor license to Krish of Lindenwold, LLC, the Acting Borough Clerk was contacted by the State of New Jersey, Division of Alcohol Beverage Control, and advised that Page 1 of 10 Krish of Lindenwold, LLC is ineligible for ownership of a liquor license as a result of failing to make a proper application with the State of New Jersey, as required by N.J.S.A. 33:1-12.18, for years 2024-2025. NOW, THEREFORE, BE IT RESOLVED by the Mayor and Borough Council of the Borough of Lindenwold that the pocket liquor license granted to Krish of Lindenwold LLC, dba Topica, is rescinded for failure to make the appropriate filing with the Division of Alcohol Beverage Control for year 2024-2025, pursuant to N.J.S.A. 33:1-12.18. Resolution 2024:113 is repealed to the extent necessary to rescind the pocket license granted to Krish of Lindenwold LLC (Topica), under license No. 0422-33-009-007. 8. Open to Public 9. Close to Public 10. Adjournment FIRST READING OF ORDINANCES ORDINANCE 2024-19 BOND ORDINANCE AUTHORIZING THE ACQUISITION OF VARIOUS PIECES OF EQUIPMENT AND THE COMPLETION OF VARIOUS CAPITAL IMPROVEMENTS FOR THE SEWER UTILITY IN AND FOR THE BOROUGH OF LINDENWOLD, COUNTY OF CAMDEN, NEW JERSEY; APPROPRIATING THE SUM OF $1,975,000 THEREFOR; AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OR BOND ANTICIPATION NOTES OF THE BOROUGH OF LINDENWOLD, COUNTY OF CAMDEN, NEW JERSEY, IN THE AGGREGATE PRINCIPAL AMOUNT OF UP TO $1,975,000 MAKING CERTAIN DETERMINATIONS AND COVENANTS; AND Page 2 of 10  AUTHORIZING CERTAIN RELATED ACTIONS IN CONNECTION WITH THE FOREGOING BE IT ORDAINED by the Borough Council of the Borough of Lindenwold, County of Camden, New Jersey (not less than two-thirds of all the members thereof affirmatively concurring), pursuant to the provisions of the Local Bond Law, Chapter 169 of the Laws of 1960 of the State of New Jersey, as amended and supplemented ("Local Bond Law"), as follows: Section 1. The purposes described in Section 7 hereof are hereby authorized as general improvements to be made or acquired by the Borough of Lindenwold, County of Camden, New Jersey ("Borough"). Section 2. It is hereby found, determined and declared as follows: (a) the estimated amount to be raised by the Borough from all sources for the purposes stated in Section 7 hereof is $1,975,000; and (b) the estimated amount of bonds or bond anticipation notes to be issued for the purposes stated in Section 7 hereof is $1,975,000. Section 3. The sum of $1,975,000, to be raised by the issuance of bonds or bond anticipation notes, is hereby appropriated for the purposes stated in this bond ordinance ("Bond Ordinance"). Section 4. The issuance of negotiable bonds of the Borough in an amount not to exceed $1,975,000 to finance the costs of the purposes described in Section 7 hereof is hereby authorized. Said bonds shall be sold in accordance with the requirements of the Local Bond Law. Section 5. In order to temporarily finance the purposes described in Section 7 hereof, the issuance of bond anticipation notes of the Borough in an amount not to exceed $1,975,000 is hereby authorized. Pursuant to the Local Bond Law, the Chief Financial Officer is hereby authorized to sell part or all of the bond anticipation notes from time to time at public or private sale and to deliver the same to the purchasers thereof upon receipt of payment of the purchase price plus accrued interest from their date to delivery thereof. The Chief Financial Officer is hereby directed to report in writing to the governing body at the meeting next succeeding the date when any sale or delivery of the bond anticipation notes pursuant to this Bond Ordinance is made. Such report must include the amount, the description, the interest rate and the maturity schedule of the bond anticipation notes sold, the price obtained and the name of the purchaser. Section 6. The amount of the proceeds of the obligations authorized by this Bond Ordinance which may be used for the payment of interest on such obligations, accounting, engineering, legal fees and other items as provided in Section 20 of the Local Bond Law, N.J.S.A. 40A:2-20, shall not exceed the sum of $395,000. Section 7. The improvements hereby authorized and the purposes for which said obligations are to be issued; the estimated costs of each said purpose; the amount of down payment Page 3 of 10 for each said purpose; the maximum amount obligations to be issued for each said purpose and the period of usefulness of each said purpose within the limitations of the Local Bond Law are as follows: Estimate Down Amount Period of Purpose/Improvement d Payment of Usefulnes Total Obligations s Cost A. Replacement of Various Sewer Force $500,000 $0 $500,000 40 years Mains within the Borough, together with the acquisition of all materials and equipment and completion of all work necessary therefor or related thereto B. Various Improvements to the Sewer 1,400,000 0 1,400,000 20 years Utility System including, but not limited to, Upgrades of Pump Stations, together with the acquisition of all materials and equipment and completion of all work necessary therefor or related thereto C. Acquisition of Various Equipment for 75,000 0 75,000 5 years the Sewer Utility System including, but not limited to, Bypass Pumping Equipment, together with the acquisition of all materials and equipment and completion of all work necessary therefor or related thereto TOTALS $1,975,00 $0 $1,975,00 0 0 Section 8. The average period of useful life of the several purposes for the financing of which this Bond Ordinance authorizes the issuance of bonds or bond anticipation notes, taking into consideration the respective amounts of bonds or bond anticipation notes authorized for said several purposes, is not less than 24.49 years. Section 9. Grants or other monies received from any governmental entity, if any, will be applied to the payment of, or repayment of obligations issued to finance, the costs of the purposes described in Section 7 above. Section 10. The supplemental debt statement provided for in Section 10 of the Local Bond Law, N.J.S.A. 40A:2-10, was duly filed in the office of the Clerk prior to the passage of this Bond Ordinance on first reading and a complete executed duplicate original thereof has been filed in the Office of the Director of the Division of Local Government Services in the Department of Community Affairs of the State of New Jersey. The supplemental debt statement shows that the gross debt of the Borough, as defined in Section 43 of the Local Bond Law, N.J.S.A. 40A:2-43, is Page 4 of 10 increased by this Bond Ordinance by $1,975,000 and that the obligations authorized by this Bond Ordinance will be within all debt limitations prescribed by said Local Bond Law. Section 11. The full faith and credit of the Borough are irrevocably pledged to the punctual payment of the principal of and interest on the bonds or bond anticipation notes authorized by this Bond Ordinance, and to the extent payment is not otherwise provided, the Borough shall levy ad valorem taxes on all taxable real property without limitation as to rate or amount for the payment thereof. Section 12. The applicable Capital Budget of the Borough is hereby amended to conform with the provisions of this Bond Ordinance to the extent of any inconsistency therewith, and the resolution promulgated by the Local Finance Board showing full detail of the amended applicable Capital Budget and Capital Program as approved by the Director of the Division of Local Government Services, is on file with the Clerk and available for inspection. Section 13. The Borough hereby declares its intent to reimburse itself from the proceeds of the bonds or bond anticipation notes authorized by this Bond Ordinance pursuant to Income Tax Regulation Section 1.150-2(e), promulgated under the Internal Revenue Code of 1986, as amended ("Code"), for "original expenditures", as defined in Income Tax Regulation Section 1.150-2(c)(2), made by the Borough prior to the issuance of such bonds or bond anticipation notes. Section 14. The Borough hereby covenants as follows: (a) it shall take all actions necessary to ensure that the interest paid on the bonds or bond anticipation notes authorized by the Bond Ordinance is exempt from the gross income of the owners thereof for federal income taxation purposes, and will not become a specific item of tax preference pursuant to Section 57(a)(5) of the Code; (b) it will not make any use of the proceeds of the bonds or bond anticipation notes or do or suffer any other action that would cause the bonds or bond anticipation notes to be "arbitrage bonds" as such term is defined in Section 148(a) of the Code and the Regulations promulgated thereunder; (c) it shall calculate or cause to be calculated and pay, when due, the rebatable arbitrage with respect to the "gross proceeds" (as such term is used in Section 148(f) of the Code) of the bonds or bond anticipation notes; (d) it shall timely file with the Internal Revenue Service, such information report or reports as may be required by Sections 148(f) and 149(e) of the Code; and (e) it shall take no action that would cause the bonds or bond anticipation notes to be "federally guaranteed" within the meaning of Section 149(b) of the Code. Section 15. The improvements authorized hereby are not current expenses and are improvements that the Borough may lawfully make. No part of the cost of the improvements authorized hereby has been or shall be specially assessed on any property specially benefited thereby. Page 5 of 10  Section 16. All ordinances, or parts of ordinances, inconsistent herewith are hereby repealed to the extent of such inconsistency. Section 17. In accordance with the Local Bond Law, this Bond Ordinance shall take effect twenty (20) days after the first publication thereof after final passage. ORDINANCE 2024-20 BOND ORDINANCE AUTHORIZING THE ACQUISITION OF VARIOUS PIECES OF CAPITAL EQUIPMENT AND THE COMPLETION OF VARIOUS CAPITAL IMPROVEMENTS FOR THE BOROUGH OF LINDENWOLD, COUNTY OF CAMDEN, NEW JERSEY; APPROPRIATING THE SUM OF $2,942,000 THEREFOR; AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OR BOND ANTICIPATION NOTES OF THE BOROUGH OF LINDENWOLD, COUNTY OF CAMDEN, NEW JERSEY, IN THE AGGREGATE PRINCIPAL AMOUNT OF UP TO $2,319,900 MAKING CERTAIN DETERMINATIONS AND COVENANTS; AND AUTHORIZING CERTAIN RELATED ACTIONS IN CONNECTION WITH THE FOREGOING BE IT ORDAINED by the Borough Council of the Borough of Lindenwold, County of Camden, New Jersey (not less than two-thirds of all the members thereof affirmatively concurring), pursuant to the provisions of the Local Bond Law, Chapter 169 of the Laws of 1960 of the State of New Jersey, as amended and supplemented ("Local Bond Law"), as follows: Section 1. The purposes described in Section 7 hereof are hereby authorized as general improvements to be made or acquired by the Borough of Lindenwold, County of Camden, New Jersey ("Borough"). Section 2. It is hereby found, determined and declared as follows: (a) the estimated amount to be raised by the Borough from all sources for the purposes stated in Section 7 hereof is $2,942,000; Page 6 of 10  (b) the estimated amount of bonds or bond anticipation notes to be issued for the purposes stated in Section 7 hereof is $2,319,900; and (c) a down payment in the amount of $122,100 for the purposes stated in Section 7 hereof is currently available in accordance with the requirements of Section 11 of the Local Bond Law, N.J.S.A. 40A:2-11. Section 3. The sum of $2,319,900, to be raised by the issuance of bonds or bond anticipation notes, together with the sum of $122,100, which amount represents the required down payment, together with the sum of $500,000, which amount represents grants heretofore approved from the New Jersey Department of Transportation, are hereby appropriated for the purposes stated in this bond ordinance ("Bond Ordinance"). Section 4. The issuance of negotiable bonds of the Borough in an amount not to exceed $2,319,900 to finance the costs of the purposes described in Section 7 hereof is hereby authorized. Said bonds shall be sold in accordance with the requirements of the Local Bond Law. Section 5. In order to temporarily finance the purposes described in Section 7 hereof, the issuance of bond anticipation notes of the Borough in an amount not to exceed $2,319,900 is hereby authorized. Pursuant to the Local Bond Law, the Chief Financial Officer is hereby authorized to sell part or all of the bond anticipation notes from time to time at public or private sale and to deliver the same to the purchasers thereof upon receipt of payment of the purchase price plus accrued interest from their date to delivery thereof. The Chief Financial Officer is hereby directed to report in writing to the governing body at the meeting next succeeding the date when any sale or delivery of the bond anticipation notes pursuant to this Bond Ordinance is made. Such report must include the amount, the description, the interest rate and the maturity schedule of the bond anticipation notes sold, the price obtained and the name of the purchaser. Section 6. The amount of the proceeds of the obligations authorized by this Bond Ordinance which may be used for the payment of interest on such obligations, accounting, engineering, legal fees and other items as provided in Section 20 of the Local Bond Law, N.J.S.A. 40A:2-20, shall not exceed the sum of $600,000. Section 7. The improvements hereby authorized and the purposes for which said obligations are to be issued; the estimated costs of each said purpose; the amount of down payment for each said purpose; the maximum amount obligations to be issued for each said purpose and the period of usefulness of each said purpose within the limitations of the Local Bond Law are as follows: Estimate Down Amount Period of Purpose/Improvement d Grants Payment of Usefulnes Total Obligations s Cost A. Acquisition of Various Replacement $1,369,00 $0 $68,450 $1,300,55 15 years Equipment for the Public Works 0 0 Department including, but not limited to, a Front End Loader, Rear Load Page 7 of 10  Trash Truck, Front Load Trash Trucks, Mechanic Service Lift, and Zero Turn Mower, together with the acquisition of all materials and equipment and completion of all work necessary therefor or related thereto B. Various Improvements to Municipal 222,000 0 11,100 210,900 15 years Buildings including, but not limited to, roof replacements, HVAC improvements and lighting, together with the acquisition of all materials and equipment and completion of all work necessary therefor or related thereto C. Acquisition of Information Technology 10,000 0 500 9,500 7 years Equipment for Municipal Building including, but not limited to, Servers, together with the acquisition of all materials and equipment and completion of all work necessary therefor or related thereto D. Reconstruction and/or Repaving of 1,100,000 500,000 30,000 570,000 10 years Various Borough Roads, together with the acquisition of all materials and equipment and completion of all work necessary therefor or related thereto E. Improvements to Various Borough 185,000 0 9,250 175,750 15 years Parks and Recreational Facilities, together with the acquisition of all materials and equipment and completion of all work necessary therefor or related thereto F. Installation of Storm Drains within the 56,000 0 2,800 53,200 40 years Borough, together with the acquisition of all materials and equipment and completion of all work necessary therefor or related thereto TOTALS $2,942,00 $500,000 $122,100 $2,319,90 0 0 Section 8. The average period of useful life of the several purposes for the financing of which this Bond Ordinance authorizes the issuance of bonds or bond anticipation notes, taking into consideration the respective amounts of bonds or bond anticipation notes authorized for said several purposes, is not less than 14.31 years. Page 8 of 10  Section 9. Grants or other monies received from any governmental entity, if any, will be applied to the payment of, or repayment of obligations issued to finance, the costs of the purposes described in Section 7 above. Section 10. The supplemental debt statement provided for in Section 10 of the Local Bond Law, N.J.S.A. 40A:2-10, was duly filed in the office of the Clerk prior to the passage of this Bond Ordinance on first reading and a complete executed duplicate original thereof has been filed in the Office of the Director of the Division of Local Government Services in the Department of Community Affairs of the State of New Jersey. The supplemental debt statement shows that the gross debt of the Borough, as defined in Section 43 of the Local Bond Law, N.J.S.A. 40A:2-43, is increased by this Bond Ordinance by $2,319,900 and that the obligations authorized by this Bond Ordinance will be within all debt limitations prescribed by said Local Bond Law. Section 11. The full faith and credit of the Borough are irrevocably pledged to the punctual payment of the principal of and interest on the bonds or bond anticipation notes authorized by this Bond Ordinance, and to the extent payment is not otherwise provided, the Borough shall levy ad valorem taxes on all taxable real property without limitation as to rate or amount for the payment thereof. Section 12. The applicable Capital Budget of the Borough is hereby amended to conform with the provisions of this Bond Ordinance to the extent of any inconsistency therewith, and the resolution promulgated by the Local Finance Board showing full detail of the amended applicable Capital Budget and Capital Program as approved by the Director of the Division of Local Government Services, is on file with the Clerk and available for inspection. Section 13. The Borough hereby declares its intent to reimburse itself from the proceeds of the bonds or bond anticipation notes authorized by this Bond Ordinance pursuant to Income Tax Regulation Section 1.150-2(e), promulgated under the Internal Revenue Code of 1986, as amended ("Code"), for "original expenditures", as defined in Income Tax Regulation Section 1.150-2(c)(2), made by the Borough prior to the issuance of such bonds or bond anticipation notes. Section 14. The Borough hereby covenants as follows: (a) it shall take all actions necessary to ensure that the interest paid on the bonds or bond anticipation notes authorized by the Bond Ordinance is exempt from the gross income of the owners thereof for federal income taxation purposes, and will not become a specific item of tax preference pursuant to Section 57(a)(5) of the Code; (b) it will not make any use of the proceeds of the bonds or bond anticipation notes or do or suffer any other action that would cause the bonds or bond anticipation notes to be "arbitrage bonds" as such term is defined in Section 148(a) of the Code and the Regulations promulgated thereunder; Page 9 of 10  (c) it shall calculate or cause to be calculated and pay, when due, the rebatable arbitrage with respect to the "gross proceeds" (as such term is used in Section 148(f) of the Code) of the bonds or bond anticipation notes; (d) it shall timely file with the Internal Revenue Service, such information report or reports as may be required by Sections 148(f) and 149(e) of the Code; and (e) it shall take no action that would cause the bonds or bond anticipation notes to be "federally guaranteed" within the meaning of Section 149(b) of the Code. Section 15. The improvements authorized hereby are not current expenses and are improvements that the Borough may lawfully make. No part of the cost of the improvements authorized hereby has been or shall be specially assessed on any property specially benefited thereby. Section 16. All ordinances, or parts of ordinances, inconsistent herewith are hereby repealed to the extent of such inconsistency. Section 17. In accordance with the Local Bond Law, this Bond Ordinance shall take effect twenty (20) days after the first publication thereof after final passage. Page 10 of 10