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TOWNSHIP OF CHESTERFIELD ORDINANCE 2008 –5 ORDINANCE TO EXCEED THE MUNICIPAL BUDGET APPROPRIATION LIMITS AND TO ESTABLISH A CAP BANK WHEREAS, the Local Government Cap Law, N.J.S.A. 40A:4-45.1 et. seq., provides that in the preparation of its annual budget, a municipality shall limit any increase in said budget to 2.5% unless authorized by ordinance to increase it to 3.5% over the previous year’s final appropriations, subject to certain exceptions; and WHEREAS, N.J.S.A. 40A:45-15a provides that a municipality may, when authorized by ordinance, appropriate the difference between the amount of its actual final appropriation and 3.5% rate as an exception to its final appropriations in either of the next two succeeding years; and WHEREAS, the Township Committee of the Township of Chesterfield in the County of Burlington finds it advisable and necessary to increase its CY 2008 budget by up to 3.5% over the previous year’s appropriations, in the interest of promoting the health, safety and welfare of the citizens; and WHEREAS, the Township Committee hereby determines that a one percent (1%) increase in the budget for said year, amounting to $18,863.21 in excess of the increase in final appropriations otherwise permitted by the Local Government CAP Law, is advisable and necessary; and WHEREAS, the Township Committee hereby determines that any amount authorized hereinabove that is not appropriated as part of the final budget shall be retained as an exception to final appropriation in either of the next two (2) succeeding years; NOW, THEREFORE, BE IT ORDAINED by the Township Committee of the Township of Chesterfield in the County of Burlington and State of New Jersey, a majority of the full authorized membership of the governing body affirmatively concurring that, in the CY 2008 budget year, the final appropriations of the Township of Chesterfield shall, in accordance with this Ordinance and N.J.S.A. 40A:4-45.14, be increased by 3.5% amounting to $66,021.24 and that the CY 2008 municipal budget for the Township of Chesterfield be approved and adopted in accordance with this ordinance; and BE IT FURTHER ORDAINED that any amount authorized hereinabove that is not appropriated as part of the final budget shall be retained as an exception to final appropriation in either of the next two succeeding years; and BE IT FURTHER ORDAINED that a certified copy of this Ordinance as introduced be filed with the Director of the Division of Local Government Services within five (5) days of introduction; and BE IT FURTHER ORDAINED that a certified copy of this ordinance upon adoption, with the recorded vote included thereon, be filed with said Director within five (5) days after such adoption. CHESTERFIELD TOWNSHIP COMMITTEE NOTICE IS HEREBY GIVEN by the Township Committee of the Township of Chesterfield that the Ordinance to which this notice is attached was introduced on first reading at the regularly scheduled meeting of the Township Committee held March 12, 2008. It will be further considered by the Township Committee at a meeting to be held at the Municipal Complex, 300 Bordentown-Chesterfield Road in Chesterfield Township on March 27, 2008 at 7:30 PM, or at any subsequent meeting to which consideration of the matter is adjourned.. The Ordinance may be reviewed and/or a copy obtained upon the payment of the appropriate fee at the Office of the Township Clerk during the hours of Monday through Friday, 9:00 AM to 4:00 PM. At the time the Township Committee further considers the Ordinance, and prior to action being taken, the Township Committee will hold a public hearing during which all interested in the Ordinance will be afforded an opportunity to speak, or otherwise exercise the rights which they enjoy under the laws of the State of New Jersey. After such a hearing, the Township Committee may adopt, amend, or reject the Ordinance at issue. Bonnie J. Haines, RMC |