Mayor & Council

MINUTES Mayor and Council Regular Meeting March 26, 2026 7:00 P.M. CALL TO ORDER – A Regular Meeting of the Mayor and Council of the Borough of River Edge was held in person in Council Chambers of the River Edge Municipal Building located at 705 Kinderkamack Road, River Edge, NJ 07661 and virtually via Zoom on March 26, 2026. The meeting was called to order at 7:02 p.m. by Mayor Thomas Papaleo. SILENT PRAYER – FLAG SALUTE Mayor Papaleo asked for a moment of silence for brave soldiers, sailors, and Air Force members as well as those who support them during this time of world crisis. Councilwoman Kinsella then led those present in a salute to the flag. STATEMENT OF COMPLIANCE - Mayor Papaleo read the Statement of Compliance into the record as follows: Statement of Compliance with Open Public Meeting Act: This meeting complies with the Open Public Meeting Act by notification on January 9, 2026 and January 16, 2026 of the location, date, time, and access information to the Town News and the Record and by posting of same on the municipal bulletin board and Borough website and filing a notice of the same with the Municipal Clerk. ROLL CALL PRESENT: Councilwoman Montisano-Koen, Council President Kinsella, Councilwoman Malellari, Councilman Glass, Councilwoman Dhariwal (arrived at 7:30 p.m.), Councilman Feffer and Mayor Papaleo. ABSENT: None ALSO PRESENT: Borough Administrator Lissette Aportela Borough Attorney Reginald Jenskins, Esq. PUBLIC COMMENTS – On motion by Councilman Glass, seconded by Council President Kinsella, and all present voting in favor, to open for public comments. Omar Hasan, 727 7th Avenue, asked for the crescent lighting to be held at Borough Hall, noting that it is not a religious event, but rather, a cultural event. He asked that the governing body revisit this request, commenting that the Borough should have representation of all religious festivals. Uwais Syed, 657 Bogert Road, advised that the crescent and the star are a representation of Muslims who live here in the community and expressed his opinion that they should be represented just like other religions. Shiraz Ardumand, Eid Committee member, Pascack Road, Paramus, NJ, expressed her opinion that River Edge has an inconsistent standard which placed the Borough in a difficult legal position. She commented that the same rules need to be applied to everyone and asked that the policy be applied uniformly. Shahid Akhtar, 86 Munsey Road, Emerson, NJ, advised that there are more than 50 Bergen County towns that have had a crescent lighting. He expressed hope that the Borough will be more receptive to the idea and have a crescent display beginning next year. On a motion by Councilman Glass, seconded by Councilwoman Montisano , and all present voting in favor, to close public comments. Mr. Jenkins advised that there is a difference between symbols that are considered religious versus secular. He noted that the governing body has been briefed on this issue as to what is recognized by the Supreme Court as being seasonal which includes the Christmas tree and menorah. He explained that the Borough has adopted a policy that religious displays of any kind are not permitted. Mayor Papaleo remarked that he and members of the governing body have attended religious events in the parks which were organized by private parties. He noted that, although the governing body has decided not to participate in religious displays, this decision can be reconsidered during New Business if the governing body so chooses. APPOINTMENTS & PERSONNEL CHANGES – On motion by Councilwoman Malellari, seconded by Councilwoman Montisano-Koen, and all members present voting in favor, to approve the following appointments and personnel changes: a. Approve the resignation of Zachary Smith, Part-time Police Dispatcher effective March 26, 2026. FIRST READING – ORDINANCES – Ordinance #26-07 - #26-09 Motion by Councilman Glass that the following ordinances be introduced and passed on first reading and setting April 9, 2026 at 7:00 p.m. or as soon thereafter as the as the matter can be heard as the date and time and both Council Chambers as the place and Zoom as the virtual platform for the hearing on said ordinance. Second by Council President Kinsella. . Mayor Papaleo read the title of the ordinance into the record: ORDINANCE 26-07 – CALENDAR YEAR 2026 ORDINANCE TO EXCEED THE MUNICIPAL BUDGET APPROPRIATION LIMITS AND TO ESTABLISH A CAP BANK (N.J.S.A. 40A: 4- 45.14) ORDINANCE 26-08 – BOND ORDINANCE TO AUTHORIZE THE IMPROVEMENT OF BOGERT ROAD (SECTION 10) IN, BY AND FOR THE BOROUGH OF RIVER EDGE, IN THE COUNTY OF BERGEN, STATE OF NEW JERSEY, TO APPROPRIATE THE SUM OF $327,528 TO PAY THE COST THEREOF, TO APPROPRIATE A STATE GRANT, TO AUTHORIZE THE ISSUANCE OF BONDS TO FINANCE SUCH APPROPRIATION AND TO PROVIDE FOR THE ISSUANCE OF BOND ANTICIPATION NOTES IN ANTICIPATION OF THE ISSUANCE OF SUCH BONDS. ORDINANCE 26-09 – BOND ORDINANCE TO AUTHORIZE THE MAKING OF VARIOUS PUBLIC IMPROVEMENTS AND THE ACQUISITION OF NEW ADDITIONAL OR REPLACEMENT EQUIPMENT AND MACHINERY, NEW INFORMATION TECHNOLOGY EQUIPMENT, NEW COMMUNICATION AND SIGNAL SYSTEMS EQUIPMENT AND NEW AUTOMOTIVE VEHICLES AND A NEW FIRE TRUCK (PARTIAL FUNDING), INCLUDING ORIGINAL APPARATUS AND EQUIPMENT, IN, BY AND FOR THE BOROUGH OF RIVER EDGE, IN THE COUNTY OF BERGEN, STATE OF NEW JERSEY, TO APPROPRIATE THE SUM OF $1,938,240 TO PAY THE COST THEREOF, TO APPROPRIATE A FEDERAL GRANT, TO MAKE A DOWN PAYMENT, TO AUTHORIZE THE ISSUANCE OF BONDS TO FINANCE SUCH APPROPRIATION AND TO PROVIDE FOR THE ISSUANCE OF BOND ANTICIPATION NOTES IN ANTICIPATION OF THE ISSUANCE OF SUCH BONDS. Borough Administrator Aportela explained that these ordinances all pertain to the upcoming budget. She advised that, with respect to Ordinance #26-07, the inside the CAP appropriations annual increase is based on the inflation index rate for the previous year and that they cannot increase appropriations subject to the spending CAP by more than that unless an ordinance is passed to go up to 3.50%. The main reason for adopting the index rate ordinance is to allow for any unused CAP to be (on paper only) banked for two years. If the ordinance is not adopted, any amount under the current index rate is lost. She noted that adopting this ordinance is a good planning tool to provide CAP relief if there are any large spikes in appropriations subject to the spending CAPS when the index rate is less than 3.5%. She compared it to a hold being placed on your credit card, advising that if the funds are not used within 2 years, then the cap bank ceases to exist. She explained that Ordinance #26-08 is the bond ordinance relating Bogert Road Section 10, noting hat it must be a standalone ordinance since it is associated with a specific state grant. Ordinance #26-09 is the bond ordinance that includes all other capital requests that were approved by both the Mayor and Council and Citizens Budget Committee. Should there be a surplus elsewhere in the budget, Councilman Feffer inquired whether that funding can be applied towards the Borough’s cost for Bogert Road Section 10. CFO Battaglia explained that this ordinance is an authorization of debt which allows the Borough to bond as needed. He noted that he does not issue debt unless it is necessary. He commented that he does housekeeping every year and cancellations are done for projects for which they did not go out to bond. He advised that when debt is initially issued it is short-term debt, explaining that the Borough does not permanently finance a project until it is long completed. On a roll call, the vote was recorded as follows: Councilwoman Montisano-Koen: aye Councilman Glass: aye Council President Kinsella: aye Councilwoman Dhariwal: aye Councilwoman Malellari: aye Councilman Feffer: aye SECOND READING & HEARING ON ORDINANCES Ordinance #26-06 Mayor Papaleo read into the record: The following ordinance published herewith was first read by title only on February 9, 2026 and posted on a bulletin board outside of the Clerk’s office. ORDINANCE 26-06 - AN ORDINANCE TO FIX THE SALARY, WAGE AND COMPENSATION OF THE OFFICERS AND EMPLOYEES OF THE BOROUGH OF RIVER EDGE, IN THE COUNTY OF BERGEN, AND STATE OF NEW JERSEY FOR THE YEAR 2026. Public Comments on Ordinances #26-06 Motion by Councilman Glass, second by Councilwoman Montisano-Koen, and all members voting in favor, to open the floor to the public on Ordinance #26-06. No one came forward. Motion by Councilman Glass, second by Councilwoman Malellari, to close the floor to the public on Ordinance #26-06. Borough Administrator Aportela advised that this ordinance establishes the salary range for the dual title of Records Clerk/Police Department Records Custodian. Motion by Councilman Glass, second by Councilwoman Montisano-Koen, that Ordinance #26-06 be passed on second and final reading and are hereby adopted and notice of same shall be published according to law. On a roll call, the vote was recorded as follows: Councilwoman Montisano-Koen: aye Councilman Glass: aye Council President Kinsella: aye Councilwoman Dhariwal: aye Councilwoman Malellari: aye Councilman Feffer: aye 2026 MUNICIPAL BUDGET #26-107 Introduce 2026 Budget Motion by Council President Kinsella, second by Councilwoman Malellari, that Resolution #26-107 be approved. CFO Battaglia advised that they held a 4-hour budget meeting on March 7th which followed many other meetings regarding the budget. He stated that there is a 4.57% increase in total budget and noted that the health insurance increase was the main driver. He explained that, should the budget be introduced this evening, the adoption will take place on April 23rd as there must be a minimum of 28 days between introduction and adoption. On a roll call, the vote was recorded as follows: Councilwoman Montisano-Koen: aye Councilman Glass: aye Council President Kinsella: aye Councilwoman Dhariwal: aye Councilwoman Malellari: aye Councilman Feffer: aye RESOLUTIONS - By Consent a. #26-108 Accept Proposal for Banking Services b. #26-109 Amend 2026 Salary Resolution c. #26-110 Authorize Purchase of Playground Equipment for Memorial Park d. #26-111 Approval of 100% Disabled Veteran Tax Exemption e. #26-112 Approve the Hire of a Full-time Laborer in the Department of Public  Works f. #26-113 Approve Solid Waste Service Agreement with the Bergen County Utilities Authority g. #26-114 Certify Governing Body’s Compliance with the United States Equal Employment Opportunity Commission’s “Enforcement Guidance on the Consideration of Arrest and Conviction Records in Employment Decisions Under Title VII of the Civil Rights Act of 1964” h. #26-115 Confirmation of Fees Assessed for the Use of Recreational Fields and Facilities Pursuant to Section JJ(7) of Chapter 206 of the Borough Code i. #26-116 Authorizing Increase in Deferred School Taxes for Local School and Regional High School Taxes Councilwoman Montisano-Koen questioned Resolution #26-111. Borough Administrator Aportela explained that the Tax Assessor was notified by the Department of Veteran Affairs that this resident has been declared 100% disabled and has been approved for a 100% tax exemption. Motion by Councilwoman Kinsella, second by Councilwoman Malellari, that the Consent Agenda be approved. On a roll call, the vote was recorded as follows: Councilwoman Montisano-Koen: aye Councilman Glass: aye Council President Kinsella: aye Councilwoman Dhariwal: aye Councilwoman Malellari: aye Councilman Feffer: aye ******** #26-117 Payment of Bills Council President Kinsella read resolution #26-117 into the record: At a Regular Meeting of the Mayor and Council of the Borough of River Edge, County of Bergen, State of New Jersey, held on March 26, 2026. BE IT RESOLVED, that the Mayor and Council of the Borough of River Edge approve the following expenditures. CURRENT FUND $ 576,382.77 GENERAL CAPITAL FUND $ 290,957.99 GRANT FUND $ 3,028.27 ANIMAL CONTROL $ 115.80 TRUST OTHER $ 18,753.16 DEVELOPER’S ESCROW $ 1,730.00 SELF INSURANCE TRUST $ 20,218.00  RECREATION TRUST $ 4,217.50 Motion by Councilwoman Kinsella, second by Councilwoman Malellar, that Resolution #26-117 be approved. On a roll call, the vote was recorded as follows: Councilwoman Montisano-Koen: aye Councilman Glass: aye Council President Kinsella: aye Councilwoman Dhariwal: aye* Councilwoman Malellari: aye Councilman Feffer: aye *Councilwoman Dhariwal recused from check #68339, #68345, #6177, and #6178. ******** NEW BUSINESS – Boy Scout Reusable Bag Collection Request Borough Administrator Aportela advised that a Boy Scout is seeking to collect reusable bags. Although they were initially looking to hold this collection this Saturday in front of the Library, they are now looking to hold it on April 11th in the two spots at the far end of the former American Legion lot. She noted that a Hold Harmless Agreement and Certificate of Insurance will need to be provided and reviewed by Risk Manager. It was the consensus of the governing body to approve this request. Religious Displays on Borough Property Councilman Feffer questioned how it is decided what is considered a religious symbol. He expressed his belief that the door has been opened by allowing the display of the Christmas tree and menorah. It was explained that the adopted policy is based on the Supreme Court decision that the Christmas tree and menorah are not considered religious symbols. Councilman Feffer expressed his opinion that a more clear policy is needed than the one that currently exists. Motion by Councilman Feffer, second by Councilwoman Dhariwal, to list a discussion on an agenda in May to determine whether the current policy should be modified, maintained, or replaced. Motion by Councilman Glass, second by Councilwoman Dhariwal, to amend the motion to include a discussion on the policies currently in place in other municipalities and the basis for their policy. On a roll call, the vote on the amendment to the motion was recorded as follows: Councilwoman Montisano-Koen: aye Councilman Glass: aye Council President Kinsella: aye Councilwoman Dhariwal: aye Councilwoman Malellari: aye Councilman Feffer: aye On a roll call, the vote on the motion as amended was as follows: Councilwoman Montisano-Koen: aye Councilman Glass: aye Council President Kinsella: nay Councilwoman Dhariwal: aye Councilwoman Malellari: nay Councilman Feffer: aye Borough Clerk Dodd is to poll the Bergen County Municipal Clerks’ Association to inquire as to current policies regarding religious displays as well as the reason behind the policy. OLD BUSINESS – There was no New Business. COUNCIL COMMENTS – Councilwoman Dhariwal announced that the River Edge @250 Committee will be hosting its kick-off event which starts at 10:30 a.m. at the River Edge Library. She explained what this event will entail. Councilwoman Kinsella advised that the Egg Hunt will also take place this Saturday from 12 p.m. to 2 p.m. ADJOURNMENT – There being no further business to come before the Mayor and Council, on a motion by Councilman Glass, second by Councilwoman Montisano-Koen, and unanimously carried, to adjourn this meeting. The meeting was adjourned at 8:30 p.m. Respectfully submitted, Anne Dodd, RMC Borough Clerk  BOROUGH OF RIVER EDGE ORDINANCE 26-07 CALENDAR YEAR 2026 ORDINANCE TO EXCEED THE MUNICIPAL BUDGET APPROPRIATION LIMITS AND TO ESTABLISH A CAP BANK (N.J.S.A. 40A: 4-45.14) WHEREAS, the Local Government Cap Law, N.J.S. 40A: 4-45.1 et seq., provides that in the preparation of its annual budget, a municipality shall limit any increase in said budget up to 2% unless authorized by ordinance to increase it to 3.5% over the previous year’s final appropriations, subject to certain exceptions; and, WHEREAS, N.J.S.A. 40A: 4-45.15a provides that a municipality may, when authorized by ordinance, appropriate the difference between the amount of its actual final appropriation and the 3.5% percentage rate as an exception to its final appropriations in either of the next two succeeding years; and, WHEREAS, the Borough of River Edge in the County of Bergen finds it advisable and necessary to increase its CY 2026 budget by up to 3.5% over the previous year’s final appropriations, in the interest of promoting the health, safety and welfare of the citizens; and, WHEREAS, the Mayor and Council hereby determines that a 1.5% increase in the budget for said year, amounting to $239,284.80 in excess of the increase in final appropriations otherwise permitted by the Local Government Cap Law, is advisable and necessary; and, WHEREAS the Mayor and Council hereby determines that any amount authorized hereinabove that is not appropriated as part of the final budget shall be retained as an exception to final appropriation in either of the next two succeeding years. NOW THEREFORE BE IT ORDAINED, by the Borough of River Edge in the County of Bergen, a majority of the full authorized membership of this governing body affirmatively concurring, that, in the CY 2026 budget year, the final appropriations of the Borough of River Edge shall, in accordance with this ordinance and N.J.S.A. 40A: 4-45.14, be increased by 3.5%, amounting to $558,331.20, and that the CY 2026 municipal budget for the Borough of River Edge be approved and adopted in accordance with this ordinance; and, BE IT FURTHER ORDAINED, that any amount authorized hereinabove that is not appropriated as part of the final budget shall be retained as an exception to final appropriation in either of the next two succeeding years; and, BE IT FURTHER ORDAINED, that a certified copy of this ordinance as introduced be filed with the Director of the Division of Local Government Services within 5 days of introduction; and, BE IT FURTHER ORDAINED, that a certified copy of this ordinance upon adoption, with the recorded vote included thereon, be filed with said Director within 5 days after such adoption. ORDINANCE #26-08 – BOND ORDINANCE TO AUTHORIZE THE IMPROVEMENT OF BOGERT ROAD (SECTION 10) IN, BY AND FOR THE BOROUGH OF RIVER EDGE, IN THE COUNTY OF BERGEN, STATE OF NEW JERSEY, TO APPROPRIATE THE SUM OF $327,528 TO PAY THE COST THEREOF, TO APPROPRIATE A STATE GRANT, TO AUTHORIZE THE ISSUANCE OF BONDS TO FINANCE SUCH APPROPRIATION AND TO PROVIDE FOR THE ISSUANCE OF BOND ANTICIPATION NOTES IN ANTICIPATION OF THE ISSUANCE OF SUCH BONDS. --------------------------------------------- BE IT ORDAINED by the Borough Council of the Borough of River Edge, in the County of Bergen, State of New Jersey, as follows: Section 1. The Borough of River Edge, in the County of Bergen, State of New Jersey (the "Borough"), is hereby authorized to improve Bogert Road (Section 10) in, by and for the Borough. Said improvement shall include road resurfacing, sidewalk, curb and driveway apron improvements, where necessary, and all work, materials and appurtenances necessary and suitable therefor, and shall be undertaken in accordance with plans and specifications prepared or to be prepared by the Borough Engineer and hereby approved and incorporated herein by this reference thereto. Such plans and specifications are on file or shall be placed on file with the Borough Clerk and made available for public inspection during regular business hours. It is hereby determined and stated that said road being improved is of "Class B" or equivalent construction as defined in Section 22 of the Local Bond Law (Chapter 2 of Title 40A of the New Jersey Statutes Annotated, as amended; the "Local Bond Law"). Section 2. The sum of $327,528 is hereby appropriated to the payment of the cost of making the improvement described in Section 1 of this ordinance (hereinafter referred to as "purpose"). Said appropriation shall be met from the proceeds of the sale of the bonds authorized and the State grant appropriated by this ordinance. No down payment is required pursuant to the provisions of N.J.S.A. 40A:2-11(c) because this ordinance involves a project to be funded by a State grant. Said improvement shall be made as a general improvement and no part of the cost thereof shall be assessed against property specially benefited. Section 3. It is hereby determined and stated that (1) said purpose is not a current expense of the Borough, and (2) it is necessary to finance said purpose by the issuance of obligations of the Borough pursuant to the Local Bond Law, and (3) the estimated cost of said purpose is $327,528, and (4) $237,528 of said sum is to be provided by the State grant hereinafter appropriated, and (5) the estimated maximum amount of bonds or notes necessary to be issued for said purpose is $90,000, and (6) the cost of said purpose, as hereinbefore stated, includes the aggregate amount of $90,000, which is estimated to be necessary to finance the cost of said purpose, including architect's fees, accounting, engineering and inspection costs, legal expenses and other expenses, including interest on such obligations to the extent permitted by Section 20 of the Local Bond Law. Section 4. It is hereby determined and stated that the sum of $237,528 received or to be received as a grant from the New Jersey Department of Transportation is hereby appropriated to the payment of the cost of such purpose. Section 5. To finance said purpose, bonds of the Borough of an aggregate principal amount not exceeding $90,000 are hereby authorized to be issued pursuant to the Local Bond Law. Said bonds shall bear interest at a rate per annum as may be hereafter determined within the limitations prescribed by law. All matters with respect to said bonds not determined by this ordinance shall be determined by resolutions to be hereafter adopted. Section 6. To finance said purpose, bond anticipation notes of the Borough of an aggregate principal amount not exceeding $90,000 are hereby authorized to be issued pursuant to the Local Bond Law in anticipation of the issuance of said bonds. In the event that bonds are issued pursuant to this ordinance, the aggregate amount of notes hereby authorized to be issued shall be reduced by an amount equal to the principal amount of the bonds so issued. If the aggregate amount of outstanding bonds and notes issued pursuant to this ordinance shall at any time exceed the sum first mentioned in this section, the moneys raised by the issuance of said bonds shall, to not less than the amount of such excess, be applied to the payment of such notes then outstanding. Section 7. Each bond anticipation note issued pursuant to this ordinance shall be dated on or about the date of its issuance, shall be payable not more than one year from its date, shall bear interest at a rate per annum as may be hereafter determined within the limitations prescribed by law and may be renewed from time to time pursuant to and within the limitations prescribed by the Local Bond Law. Each of said bond anticipation notes shall be signed by the Mayor and by a financial officer and shall be under the seal of the Borough and attested by the Borough Clerk or Deputy Borough Clerk. Said officers are hereby authorized to execute said notes and to issue said notes in such form as they may adopt in conformity -2- with law. The power to determine any matters with respect to said notes not determined by this ordinance, and also the power to sell said notes, is hereby delegated to the Chief Financial Officer who is hereby authorized to sell said notes either at one time or from time to time in the manner provided by law. Section 8. It is hereby determined and declared that the period of usefulness of said purpose, according to its reasonable life, is a period of ten years computed from the date of said bonds. Section 9. It is hereby determined and stated that the Supplemental Debt Statement required by the Local Bond Law has been duly made and filed in the office of the Borough Clerk of the Borough, and that such statement so filed shows that the gross debt of the Borough, as defined in Section 43 of the Local Bond Law, is increased by this ordinance by $90,000 and that the issuance of the bonds and notes authorized by this ordinance will be within all debt limitations prescribed by the Local Bond Law. Section 10. Any funds received from private parties, the County of Bergen, the State of New Jersey or any of their agencies or any funds received from the United States of America or any of its agencies in aid of said purpose (other than the State grant hereinbefore appropriated which shall be applied to the cost of such purpose, but shall not be applied to the payment of outstanding bond anticipation notes and the reduction of the amount of bonds authorized), shall be applied to the payment of the cost of said purpose, or, if bond anticipation notes have been issued, to the payment of the bond anticipation notes, and the amount of bonds authorized for said purpose shall be reduced accordingly. Section 11. The capital budget is hereby amended to conform with the provisions of this ordinance to the extent of any inconsistency therewith and the resolutions promulgated by the Local Finance Board showing full detail of the amended capital budget and capital program as approved by the Director, Division of Local Government Services, is on file with the Borough Clerk and is available for public inspection. Section 12. The Borough intends to issue bonds or notes to finance the cost of the improvement described in Section 1 of this bond ordinance. If the Borough incurs such costs prior to the issuance of such bonds or notes, the Borough hereby states its reasonable expectation to reimburse itself for such expenditures with the proceeds of such bonds or notes in the maximum principal amount of bonds or notes authorized by this bond ordinance. -3-  Section 13. The full faith and credit of the Borough are hereby pledged to the punctual payment of the principal of and interest on the obligations authorized by this ordinance. Said obligations shall be direct, unlimited and general obligations of the Borough, and the Borough shall levy ad valorem taxes upon all the taxable real property within the Borough for the payment of the principal of and interest on such bonds and notes, without limitation as to rate or amount. Section 14. This ordinance shall take effect twenty days after the first publication thereof after final passage. -4- ORDINANCE #26-09 – BOND ORDINANCE TO AUTHORIZE THE MAKING OF VARIOUS PUBLIC IMPROVEMENTS AND THE ACQUISITION OF NEW ADDITIONAL OR REPLACEMENT EQUIPMENT AND MACHINERY, NEW INFORMATION TECHNOLOGY EQUIPMENT, NEW COMMUNICATION AND SIGNAL SYSTEMS EQUIPMENT AND NEW AUTOMOTIVE VEHICLES AND A NEW FIRE TRUCK (PARTIAL FUNDING), INCLUDING ORIGINAL APPARATUS AND EQUIPMENT, IN, BY AND FOR THE BOROUGH OF RIVER EDGE, IN THE COUNTY OF BERGEN, STATE OF NEW JERSEY, TO APPROPRIATE THE SUM OF $1,938,240 TO PAY THE COST THEREOF, TO APPROPRIATE A FEDERAL GRANT, TO MAKE A DOWN PAYMENT, TO AUTHORIZE THE ISSUANCE OF BONDS TO FINANCE SUCH APPROPRIATION AND TO PROVIDE FOR THE ISSUANCE OF BOND ANTICIPATION NOTES IN ANTICIPATION OF THE ISSUANCE OF SUCH BONDS. ------------------------------------------------- BE IT ORDAINED by the Borough Council of the Borough of River Edge, in the County of Bergen, State of New Jersey, as follows: Section 1. The Borough of River Edge, in the County of Bergen, State of New Jersey (the "Borough") is hereby authorized to make various public improvements and to acquire new additional or replacement equipment and machinery, new information technology equipment, new communication and signal systems equipment and new automotive vehicles and a new fire truck (partial funding), including original apparatus and equipment, in, by and for said Borough, as more particularly described in Section 4 hereof. Said improvements shall include all work, materials, and appurtenances necessary and suitable therefor. Section 2. There is hereby appropriated to the payment of the cost of making the improvements described in Sections l and 4 hereof (hereinafter referred to as "purposes"), the respective amounts of money hereinafter stated as the appropriation for said respective purposes. Said appropriation shall be met from the proceeds of the sale of the bonds authorized, and the down payment and the Federal grant appropriated, by this ordinance. Said improvements shall be made as general improvements and no part of the cost thereof shall be assessed against property specially benefited. Section 3. It is hereby determined and stated that the making of such improvements is not a current expense of said Borough.  Section 4. The several purposes hereby authorized for the financing of which said obligations are to be issued are set forth in the following "Schedule of Improvements, Purposes and Amounts" which schedule also shows (l) the amount of the appropriation and the estimated cost of each such purpose, and (2) the amount of each sum which is to be provided by the Federal grant hereinafter appropriated, and (3) the amount of each sum which is to be provided by the down payment hereinafter appropriated to finance such purposes, and (4) the estimated maximum amount of bonds and notes to be issued for each such purpose, and (5) the period of usefulness of each such purpose, according to its reasonable life, computed from the date of said bonds: SCHEDULE OF IMPROVEMENTS, PURPOSES AND AMOUNTS A. Acquisition of new additional or replacement equipment and machinery, new information technology equipment and new automotive vehicles, including original apparatus and equipment, for the use of various Borough departments, offices, and agencies, including, but not limited to, the following: Police Department ballistic vests defibrillators Fire Department turnout gear fire hose gas meters Administration computer equipment Department of Public Works ("DPW") utility vehicle civic decorations SUV Senior Citizens bus Appropriation and Estimated Cost $ 294,950 Down Payment Appropriated $ 14,600 Bonds and Notes Authorized $ 280,350 Period of Usefulness 5 years -2-  B. Acquisition of new additional or replacement equipment and machinery for the use of the DPW, including, but not limited to, a field maintenance machine. Appropriation and Estimated Cost $ 42,000 Down Payment Appropriated $ 2,000 Bonds and Notes Authorized $ 40,000 Period of Usefulness 15 years C. Acquisition of new communication and signal systems equipment for the use of the Fire Department, including, but not limited to (i) pagers and (ii) a radio base station. Appropriation and Estimated Cost $ 40,000 Down Payment Appropriated $ 2,000 Bonds and Notes Authorized $ 38,000 Period of Usefulness 10 years D. Acquisition of a new ladder fire truck (partial funding), including original apparatus and equipment. Appropriation and Estimated Cost $ 100,000 Down Payment Appropriated $ 4,800 Bonds and Notes Authorized $ 95,200 Period of Usefulness 20 years E. Undertaking of the Borough Documents Management Project. Appropriation and Estimated Cost $ 55,000 Down Payment Appropriated $ 2,700 Bonds and Notes Authorized $ 52,300 Period of Usefulness 5 years F. Undertaking of the Tree Planting Program. Appropriation and Estimated Cost $ 30,000 Down Payment Appropriated $ 1,500 Bonds and Notes Authorized $ 28,500 Period of Usefulness 15 years -3-  G. Undertaking of sidewalk, curb and ADA ramp improvements at various locations. Appropriation and Estimated Cost $ 168,750 Down Payment Appropriated $ 8,100 Bonds and Notes Authorized $ 160,650 Period of Usefulness 10 years H. Undertaking of the 2026 Road Resurfacing and Improvement Program (including curbing and sidewalk improvements, where necessary) in, by and for the Borough, as set forth on a list prepared by the Borough Engineer and approved by the Borough Council and directed to be placed on file in the Office of the Borough Clerk and made available for public inspection during normal business hours. It is hereby determined and stated that (i) the Borough Council may, by resolution, amend the aforesaid list from time to time within the appropriation made hereby and (ii) such roads being improved are of "Class B" or equivalent construction as defined in Section 22 of the Local Bond Law (Chapter 2 of Title 40A of the New Jersey Statutes Annotated, as amended; the "Local Bond Law"). Appropriation and Estimated Cost $ 448,000 Down Payment Appropriated $ 21,400 Bonds and Notes Authorized $ 426,600 Period of Usefulness 10 years I. Improvements to public buildings and property. Appropriation and Estimated Cost $ 305,750 Down Payment Appropriated $ 15,000 Bonds and Notes Authorized $ 290,750 Period of Usefulness 15 years J. Undertaking of ADA bathroom upgrades at the Public Library. It is hereby determined and stated that such public building being improved is of "Class B" or equivalent construction as defined in Section 22 of the Local Bond Law. -4-  Appropriation and Estimated Cost $ 213,790 Federal Grant Appropriated $ 138,790 Down Payment Appropriated $ 3,600 Bonds and Notes Authorized $ 71,400 Period of Usefulness 15 years K. Undertaking of stormwater drainage and sanitary sewer improvements at various locations. Appropriation and Estimated Cost $ 240,000 Down Payment Appropriated $ 11,500 Bonds and Notes Authorized $ 228,500 Period of Usefulness 40 years ------------------------------------------------------- Aggregate Appropriation and Estimated Cost $1,938,240 Federal Grant Appropriated $ 138,790 Aggregate Down Payment Appropriated $ 87,200 Aggregate Amount of Bonds and Notes Authorized $1,712,250 Section 5. The cost of such purposes, as hereinbefore stated, includes the aggregate amount of $217,500 which is estimated to be necessary to finance the cost of such purposes, including architect's fees, accounting, engineering and inspection costs, legal expenses and other expenses, including interest on such obligations to the extent permitted by Section 20 of the Local Bond Law. Section 6. The sum of $138,790 received or to be received as a grant from the Bergen County Community Development Program, pursuant to the Federal Housing and Community Development Act, is hereby appropriated to the payment of the cost of the improvement to the Public Library authorized in Section 4.J hereof. Section 7. It is hereby determined and stated moneys exceeding $87,200, appropriated for down payments on capital improvements or for the capital improvement fund in budgets heretofore adopted for the Borough, are now available to finance said purposes. The sum of $87,200 is hereby appropriated from such moneys to the payment of the cost of said purposes. -5-  Section 8. To finance said purposes, bonds of said Borough of an aggregate principal amount not exceeding $1,712,250 are hereby authorized to be issued pursuant to the Local Bond Law. Said bonds shall bear interest at a rate per annum as may be hereafter determined within the limitations prescribed by law. All matters with respect to said bonds not determined by this ordinance shall be determined by resolutions to be hereafter adopted. Section 9. To finance said purposes, bond anticipation notes of said Borough of an aggregate principal amount not exceeding $1,712,250 are hereby authorized to be issued pursuant to the Local Bond Law in anticipation of the issuance of said bonds. In the event that bonds are issued pursuant to this ordinance, the aggregate amount of notes hereby authorized to be issued shall be reduced by an amount equal to the principal amount of the bonds so issued. If the aggregate amount of outstanding bonds and notes issued pursuant to this ordinance shall at any time exceed the sum first mentioned in this section, the moneys raised by the issuance of said bonds shall, to not less than the amount of such excess, be applied to the payment of such notes then outstanding. Section 10. Each bond anticipation note issued pursuant to this ordinance shall be dated on or about the date of its issuance and shall be payable not more than one year from its date, shall bear interest at a rate per annum as may be hereafter determined within the limitations prescribed by law and may be renewed from time to time pursuant to and within limitations prescribed by the Local Bond Law. Each of said bond anticipation notes shall be signed by the Mayor and by a financial officer and shall be under the seal of said Borough and attested by the Borough Clerk or Deputy Borough Clerk. Said officers are hereby authorized to execute said notes in such form as they may adopt in conformity with law. The power to determine any matters with respect to said notes not determined by this ordinance and also the power to sell said notes, is hereby delegated to the Chief Financial Officer who is hereby authorized to sell said notes either at one time or from time to time in the manner provided by law. Section 11. It is hereby determined and declared that the average period of usefulness of said purposes, according to their reasonable lives, taking into consideration the respective amounts of bonds or notes authorized for said purposes, is a period of 14.84 years computed from the date of said bonds. -6-  Section 12. It is hereby determined and stated that the Supplemental Debt Statement required by the Local Bond Law has been duly made and filed in the office of the Borough Clerk of said Borough, and that such statement so filed shows that the gross debt of said Borough, as defined in Section 43 of the Local Bond Law, is increased by this ordinance by $1,712,250 and that the issuance of the bonds and notes authorized by this ordinance will be within all debt limitations prescribed by said Local Bond Law. Section 13. Any funds received from private parties, the County of Bergen, the State of New Jersey or any of their agencies or any funds received from the United States of America or any of its agencies in aid of such purposes (other than the Federal grant hereinbefore appropriated which shall be applied to the cost of such purposes, but shall not be applied to the payment of outstanding bond anticipation notes and the reduction of the amount of bonds authorized), shall be applied to the payment of the cost of such purposes, or, if bond anticipation notes have been issued, to the payment of the bond anticipation notes, and the amount of bonds authorized for such purposes shall be reduced accordingly. Section 14. The capital budget is hereby amended to conform with the provisions of this ordinance to the extent of any inconsistency therewith and the resolutions promulgated by the Local Finance Board showing full detail of the amended capital budget and capital program as approved by the Director, Division of Local Government Services, is on file with the Borough Clerk and is available for public inspection. Section 15. The Borough intends to issue the bonds or notes to finance the cost of the improvements described in Sections 1 and 4 of this bond ordinance. If the Borough incurs such costs prior to the issuance of the bonds or notes, the Borough hereby states its reasonable expectation to reimburse itself for such expenditures with the proceeds of such bonds or notes in the maximum principal amount of bonds or notes authorized by this bond ordinance. Section 16. The full faith and credit of the Borough are hereby pledged to the punctual payment of the principal of and the interest on the obligations authorized by this ordinance. Said obligations shall be direct, unlimited, and general obligations of the Borough, and the Borough shall levy ad valorem taxes upon all the taxable real property within the Borough for the payment of -7- the principal of and interest on such bonds and notes, without limitation as to rate or amount. Section 17. This ordinance shall take effect twenty days after the first publication thereof after final passage. -8-