FREEHOLD TOWNSHIP – Township Committee members have adopted an ordinance that authorizes the leasing of capital equipment from the Monmouth County Improvement Authority (MCIA) and executes an agreement with the county.
Committee members took the action on July 23.
Freehold Township will cover the cost of leasing the equipment through the issuance of bonds in an amount not to exceed $1.77 million.
The equipment to be leased includes single-axle dump trucks at an estimated cost of $430,000; a sewer cleaner from Vactor at an estimated cost of $350,000; five F350 and F450 dump trucks at an estimated cost of $225,000; a loader at an estimated cost of $200,000; and two tractors at an estimated cost of $115,000.
Additionally, according to the ordinance, Freehold Township will lease two pickup trucks at an estimated cost of $70,000; a leaf machine at an estimated cost of $65,000; sport utility vehicles at an estimated cost of $60,000; two utility task vehicles from Workman at an estimated cost of $45,000; a 12-passenger van at an estimated cost of $24,000; and two trailers at an estimated cost of $20,000.
According to visitmonmouth.com, the Monmouth County Board of Freeholders created the MCIA in 1986 “as a conduit to cost-saving alternatives to the traditional methods of public capital finance for municipalities, boards of education, local and regional utility authorities and other local and county government entities.
“The freeholders’ goal was to create an organization that would assist the various government and educational entities in implementing their decisions in a streamlined and cost-efficient manner. … The MCIA’s singular focus is on finding alternatives to traditional methods of public finance,” according to the website.
In other business, committee members authorized a contract with Foley Inc., Piscataway, for the purchase of a message board from Wanco through the Monmouth County Cooperative Pricing System. The cost of the message board is $16,400, according to a resolution.