MANALAPAN – The Township Committee is expected to vote tonight, May 8, on the adoption of a bond ordinance that will provide funding for capital improvements and the acquisition of capital equipment.
The meeting will begin at 7:30 p.m. in the municipal building, which is located on Route 522. Residents may comment on and ask questions about the bond ordinance at that time.
The ordinance will appropriate $1,730,870 and authorize the issuance of $1,644,326 in bonds and notes to finance a portion of the costs. The ordinance will require a “yes” vote from four of the five members of the governing body to be adopted.
The township will make an $86,544 down payment in conjunction with the issuance of the bonds and notes, according to the ordinance.
The improvements authorized consist of the acquisition of a street sweeper ($265,500); the acquisition and installation of new air handlers for the municipal building’s heating, ventilation and air conditioning system ($151,500); and road improvements, including, but not limited to Monmouth Heights Phase VII – paving, curbing and concrete; improvements to Craig Road; improvements to Gordons Corner Road – engineering construction phase; and catch basin replacement ($1,313,870).