FREEHOLD — The Borough Council adopted several bond ordinances on June 17 that will provide funding for several projects in Freehold Borough.
No residents commented on or asked questions about the ordinances when given the opportunity to do so during a public hearing.
The council adopted a bond ordinance appropriating more than $1.1 million to fund road, parking lot, sidewalk and park improvements, and construction work.
The ordinance authorized the issuance of $566,000 in bonds and notes to finance a portion of the costs.
The allotment will fund construction on Throckmorton Street; design work on Marcy Street, the McGackin Triangle Parking Lot, Avenue A and Avenue C; engineering and construction of sidewalks; and engineering and construction at Veterans Park.
A second ordinance that was adopted will appropriate $120,000 for the acquisition of equipment including a mason dump truck, a pickup truck and mower tractor.
And, officials adopted a $370,000 bond ordinance to provide for water and sewer system improvements and the acquisition of equipment. The ordinance authorizes the issuance of $264,000 in bonds or notes and reappropriates $91,344 in excess bond proceeds not needed for their original purposes to finance a portion of the work.
According to the ordinance, the council “has determined it is in the best interest of the borough to re-appropriate the excess proceeds to finance the cost of the various water-sewer system improvements and acquisition of various equipment, for which bonds may be issued, thereby decreasing the amount of additional borough debt to finance such current capital needs.”