SEA GIRT — The Sea Girt Borough Council at its last meeting adopted an ordinance that will allocate funds, including a state grant, for various capital improvements throughout the borough.
The bond ordinance appropriates $1,134,000 in total project costs, including a $163,092 grant awarded by the New Jersey Department of Transportation (NJDOT), and authorizes $936,708 in bonds or notes, that OKs the borough to sell that amount of the total to debt.
Currently, the borough is responsible for paying $34,200 as a total down payment, coming out of the capital account in this year’s municipal budget.
“Only $32,400 of it is coming out of the budget right now as a down payment,” said Amy Spera, borough chief financial officer. “The rest of it will be sold as debt, and then the money will come out of our accounts in future year budgets as debt payments.”
The projects include Fourth Avenue improvements, the purchase of a police vehicle, and equipment for the department of public works, fire and police departments, as well as administrative equipment at borough hall.
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