Ordinance # 2004-01

AN ORDINANCE TO EXCEED THE INDEX RATE, IN ACCORDANCE WITH N.J.S. 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 to 5% or the index rate, whichever is less, over the previous year’s final appropriations, subject to certain exceptions; and

WHEREAS, P.L. 1986, C. 203 amended the Local Government Cap law, to provide that a municipality may, in any year in which the index rate is less than 5%, increase its final appropriations by a percentage rate greater than the index rate but not to exceed the 5% rate as defined in the amendatory law, when authorized by Ordinance; and

WHEREAS, the index rate for SFY 2004 has been certified by the Director of the Division of Local Government Services in the Department of Community Affairs as 2.5%; and

WHEREAS, the Township Committee of the Township of Wantage in the County of Sussex finds it advisable and necessary to increase its SFY 2004 budget by more than 2.5% over the previous year’s final appropriations, in the interest of promoting the health, safety and welfare of the citizens; and

WHEREAS, the Township Committee of the Township Of Wantage hereby determines that a 5% increase in the budget for said year, amounting to $70,928 in excess of the increase in final appropriations otherwise permitted by the Local Government Cap Law, is advisable and necessary,

NOW, THEREFORE, BE IT ORDAINED by the Township Committee of the Township of Wantage, County of Sussex and State of New Jersey, a majority of the full authorized membership of this governing body affirmatively concurring, that, in the SFY 2004 budget year, the final appropriations of the Township Of Wantage shall, in accordance with this Ordinance and P.L. 1986, C. 203, be increased by 5% amounting to $141,851 and that the SFY 2004 municipal budget for the Township Of Wantage be approved and adopted in accordance with this Ordinance; 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 the said Director within 5 days after such adoption.

BE IT FURTHER ORDAINED, this ordinance shall take effect after publication and passage according to law.
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Jeff Parrott, Mayor
ATTEST:
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James R. Doherty, Administrator/Clerk

NOTICE is hereby given that the above ordinance was introduced and passed upon first reading at a meeting of the Mayor and Committee of the Township of Wantage, in the County of Sussex, New Jersey, held on the 29th day of January, 2004. It will be further considered for final passage after public hearing at a meeting of the Mayor and Committee to be held in the Municipal Building, 888 Route 23 South, in the Township of Wantage, on February 12, 2004, at 8:00 P.M., and during the preceding week copies of the ordinance will be made available at the Clerk's office in the Municipal Building to members of the general public.
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James R. Doherty, Administrator/Clerk