PRINCETON: Joint municipal meetings scheduled

By Lauren Otis, Staff Writer
   Princeton Township Committee adopted a resolution to establish a quarterly meeting schedule with Princeton Borough Council at its meeting Monday evening.
   The language of the Township Committee resolution is nearly identical to that of a similar resolution adopted by Borough Council at a Dec. 23 meeting. Members of Borough Council have been critical in the past over the lack of a formal agreement between the municipalities regarding joint meetings, noting that the township has sidestepped an oral commitment it made to hold quarterly meetings with the borough.
   The township resolution calls for four meetings annually “in addition to joint budget meetings, in order to accomplish cost effective governmental planning.”
   The agenda for each meeting would be set at least one month in advance of the meeting “in order to facilitate discussion and resolution of identified agenda items.”
   In other business, the Township Committee went ahead with a plan to refund $9.6 million of general improvement bonds.
   ”We are refunding, or refinancing, two previous bond issues, one from 1999 and another from 2001,” said Kathy Monzo, Princeton Township chief financial officer.
   Market conditions are such that, by refinancing the bonds, the township can expect to obtain at least a 3 percent present value savings as stipulated in state regulations, Ms. Monzo said.