Borough considers whether to borrow money for building repairs
July 27, 2022
The borough assembly is considering whether to seek voter approval to sell $10.5 million in bonds for the first phase of rehab work at the rot-damaged 35-year-old Public Safety Building, and $4.5 million in bonds to help pay for roof, siding and boiler work at school buildings that range in age from 35 to 53 years old.
Repayment of the bonds would come from municipal revenues, particularly property taxes.
The assembly was scheduled to meet in a work session Tuesday evening to discuss the proposal, followed by the regular meeting where members were to vote on setting a special assembly meeti...