BRIELLE — A bond ordinance that will fund accessibility and other improvements to borough facilities was approved at the Brielle mayor and council meeting on Monday, June 12.
Several members of the public had questions about the bond, which appropriates $500,000 for improvements to Brielle Borough Hall, as well as issuing “$475,000 in bonds and notes to finance a portion of the costs thereof,” according to the resolution’s text.
“The borough has received a grant from the Community Block Grant of Monmouth County in order to make the building barrier-free,” said Borough Administrator Thomas Nolan. “We did half of it two years ago and now we have to finish the job, so part of that money is going to that.”
“In addition, the borough hall itself needs some upgrades,” he said. “We intend to put on a new roof, rearrange some offices up here and also address the problem we have with moisture getting inside the building. So that’s basically what this money is for.”
“On a positive note,” he said, “we have already budgeted a half million dollars in capital improvement, so this really allows us to access our money so we don’t have to take on additional debt. In that sense it’s beneficial to the taxpayer.”
Normally, a bond ordinance would provide a way for a municipality to take on debt for the purpose of capital projects. Since the borough had already budgeted $500,000 for these, the grant will “balance” the funds that would have been lost without the grant.
Mr. Nolan also responded to a question about the bond issue from William Folker, a resident.
“As long as we don’t take on too much debt, we can…keep it balanced. If we do have a cash flow problem we usually take a one-year bond anticipation note,” Mr. Nolan said, reiterating that there were only two outstanding loans that have yet to be repaid—both involving water utilities. Bond anticipation notes cover short-term issuances and are usually covered by longer-term financial commitments.
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