CYAN YELLOW MAGENTA BLACK
Judy Bell, Jerry Bonnetti, Fran Comstock, Janet DeFiore, Jennifer Daniels, Barbara Doherty, Tammie Hamill, Carmen Imgrund, William Jordan, Brian Kastner, Roger Love, Dorothy McDevitt, Arleen Post, Karen Roman, Genoveva Smith, Janet Sonntag, Tracy Wilde, Carol
Each Office Independently Owned And Operated.
T TT TTA AA AAYL YL YL YL YLOR & L OR & L OR & L OR & L OR & LO OO OOVE, INC VE, INC VE, INC VE, INC VE, INC., REAL ., REAL ., REAL ., REAL ., REALT TT TTORS ORS ORS ORS ORS
436 South Avenue Westfield, NJ 07090 Each Office Independently
Owned and Operated 908-654-6666
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New Listing $524,900 Cranford A Rare Find! Charming older Colonial home “On the River” with 4/ 5 Bedrooms, 3½ Baths, 5 fireplaces, modern Kitchen and 1st floor Den. Possible mother/ daughter or ideal for home office. Call today for an appointment.
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Westfield Real Estate Quiz...
COLDWELL BANKER RESIDENTIAL BROKERAGE
Westfield Office 209 Central Avenue
(908) 2335555 PUBLIC NOTICE PUBLIC NOTICE PUBLIC NOTICE PUBLIC NOTICE
Public Notice is hereby given that an ordinance of which the following is a copy was introduced, read and passed on first reading by the Council of the Town of Westfield at a meeting held February 9, 1999, and that the said Council will further consider the same for final passage on the 9th day of March, 1999, at 8:00 p.m., in the Council Chamber, Municipal Building, 425 East Broad Street, Westfield, New Jersey, at which time and place any person who may be interested therein will be given an opportunity to be heard concerning said ordinance.
Joy C. Vreeland Town Clerk
GENERAL ORDINANCE NO. AN ORDINANCE AUTHORIZING THE EXECUTION OR ACKNOWLEDGEMENT AND DELIVERY BY THE TOWN OF WESTFIELD (THE “MUNICIPALITY”) OF CERTAIN LEASE AGREEMENTS IN RELATION TO THE UNION COUNTY IMPROVEMENT AUTHORITY ISSUANCE OF COUNTY-GUARANTEED GENERAL OBLIGATION LEASE REVENUE BONDS, SERIES 1999 (CAPITAL EQUIPMENT LEASE PROGRAM).
WHEREAS, the Union County Improvement Authority (the “Authority”) has been duly created by a resolution of the Board of Chosen Freeholders (the “Board of Freeholders”) of the County of Union, New Jersey (the “County”), as public body corporate and politic of the State of New Jersey (the “State”) pursuant to in accordance with the county improvement authorities law, constituting Chapter 183 of the Pamphlet Laws of 1960 of the State, as amended and supplemented from time to time (the “Act”); and
WHEREAS, the Municipality is interested in participating in the authority’s Capital Equipment Lease Program (the “Program”); and
WHEREAS, to provide for the financing of the Program, Municipality, as lessee, will enter into a “Capital Equipment Lease Agreement” (the “Lease Agreement”), pursuant to the terms which the Authority will lease. The Authority’s right, title and interest in and to the certain capital equipment (the “Projects”) to be acquired in exchange for payment by Municipality of certain general obligation lease payments, which lease payments will secure the payment of the principal of an redemption premium, if any, and interest on the Bonds; and
WHEREAS, the Authority intends to finance the Program and Projects through the issuance of one or more series of its “General Obligation Guaranteed Capital Equipment Lease Revenue Bonds, Series 1999”(the “Bonds”) in an aggregate principal amount of not to exceed $15,000,000; and
WHEREAS, the Bonds shall have such other terms as set forth in that certain resolution authorizing the issuance of the “Union County Improvement Authority General Obligation Guaranteed Lease Revenue Bonds, Series 1999 (Capital Equipment Lease Program)” of the Union County Improvement Authority to be adopted by the Authority prior to the issuance of the Bonds (the “Bond Resolution”; the Bond Resolution, and any amendments or supplements thereto in accordance with the terms thereof may be collectively referred to as the “Bond Resolution”); and
WHEREAS, the payment of the principal of and redemption premium, if any, and interest on the Bonds will be secured by certain general obligation lease payments of the Municipality under the Lease Agreement, to be dated as of the first day of the month of issuance of the Bonds; and
WHEREAS, payment when due of the principal of (including sinking fund installments, if any) and interest on the Bonds will be additional secured by a full faith and credit, unconditional and irrevocable guaranty of the County of Union in accordance with a guaranty ordinance to be finally adopted by the governing body the County and a guaranty certificate executed on the face of each Bond upon the issuance thereof by an authorized officer of the County (the “Guaranty”), all in connection with Section 37 (“Section 37”) of the Act (N.J.S.A. 40:37A-80) and other applicable law; and
WHEREAS, the principal of (including sinking fund installments, if any) and interest on the Bonds when due may be, if the Authority determines it to be in its best interest insured by a municipal bond insurance company (the “Bond Insurer”) in accordance with the terms of a new issue municipal bond insurance policy (the “Bond Insurance Policy”); and
WHEREAS, in order to market and sell the Bonds, (i) the Authority shall issue a Preliminary Official Statement (the “POS”) and a final Official Statement (the “OS”), (ii) the Authority shall enter into a negotiated sale of the Bonds with one or more underwriters (collectively, the “underwriter”) pursuant to the terms of a bond purchase agreement (the “BPA”), (iii) the Authority, the Municipality and the Trustee for the Bonds, or any successor thereto in accordance with the terms of the Bond Resolution (the “Trustee”), shall enter into a continuing Disclosure Agreement (the “Continuing Disclosure Agreement”) upon the issuance of the Bonds if necessary, convenient, useful or desirable in connection with Rule 15c2-12 promulgated by the Securities and Exchange Commission Act of 1934, as amended, or any successor rule or regulation thereto (“Rule 15c2-12”, (iv) the Municipality shall make certain representations, warranties and covenants regarding, among other
things, the equipment to be acquired and the Bonds in Letter of Representations (the “Participant Letter”) and a Tax Letter of Representations (the “Participant Tax Letter”, and together with the participant Letter, the “Participant Letters”), and (v) the Municipality and the Authority shall take such actions and shall authorize, execute or acknowledge, as the case may be, and deliver such other documents, instruments or certificates as Bond Counsel to the Authority and to the Municipality deem necessary, convenient, useful or desirable in order to issue the Bonds (collectively, the “Certificate”, and together with the Bond Resolution, Capital Equipment Lease Agreement, the Bonds, the Guaranty, the Bond Insurance Policy, the POS, the OS, the BPA, the Continuing Disclosure Agreement and the Participant Letters, the “Financing Documents”); and
WHEREAS, in accordance with Section 13 (“Section 13”) of the Act (N.J.S.A. 40:37A56), prior to the issuance of the Bonds, the Authority shall make a detailed report with respect to such financing to the Board of Freeholders, which report shall include copies or a description of, without limitation, the Financing Documents;
NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF THE TOWN OF WESTFIELD, IN THE COUNTY OF UNION, NEW JERSEY as follows:
Pursuant to Section 78 of the County Improvement Authorities Law, N.J.S.A. §40:48-1 et seq., the Municipality is hereby authorized and directed to enter into and perform the Lease, which Lease provides for the leasing of certain items of Equipment acquired with the proceeds of the Union County Improvement Authority’s “Guaranteed Lease Revenue Bonds, Series 1999 (Capital Lease Program)” (the “Bonds”) to be issued by the Authority under a resolution of the Authority to be adopted by the Authority entitled “Resolution Authorizing the Issuance of General Obligation Guaranteed Lease Revenue Bonds, Series 1999 (Capital Equipment Lease Program and Additional Bonds of The Union County Improvement Authority” (the “General Bond Resolution”). The Lease, in substantially the form submitted herewith as Exhibit A (a copy of which is on file in the office of the Clerk of the Municipality), is hereby approved with such changes, amendments or modifications as may be approved by counsel or bond counsel to the Municipality and bond counsel to the Authority and counsel or bond counsel to the County.
The Mayor or Authorized Municipal Representative and the Chief Financial Officer of the Municipality (collectively, the “Authorized Officer”) are hereby each severally authorized and directed, upon the satisfaction of all the legal conditions precedent to the execution of acknowledgment and delivery by the Municipality of the Financing Documents to be so executed or acknowledged by the Municipality, to execute or acknowledge and deliver such documents in substantially the forms attached hereto as Exhibit A, with such changes thereto as the Authorized Officer, after consultation with counsel to the Municipality, bond counsel to the Municipality and other professional advisors to the Municipality, the Authority and County (the “Consultants”), deems in his sole discretion to be necessary, desirable or convenient for the execution thereof and to consummate the transactions contemplated hereby, which execution thereof shall conclusively evidence the Authorized Officer’s approval of any changes to the forms thereof.
The Clerk of the Municipality is hereby authorized and directed, upon the execution of/or acknowledgment of the documents set forth in Section 2 hereof in accordance with the terms of Section 2 hereof, to attest to the Authorized Officer’s execution or acknowledgment of such documents and is hereby further authorized and directed to thereupon affix the seal of the Municipality to such documents.
Upon the execution or acknowledgment and attestation of and if required, the placing of the seal on the documents set forth in Section 3 hereof as contemplated by Sections 2 and 3 hereof, the Authorized Officer is hereby authorized and directed to (i) deliver the fully executed or acknowledged, attested and sealed documents to the other parties thereto and (ii) perform such other actions as the Authorized Officer deems necessary, desirable or convenient in relation to the execution and delivery thereof.
The full faith and credit of the Municipality are hereby pledged to the punctual payment of the obligations set forth in the Lease authorized by this ordinance, including without limitations, (i) all Basic Rent and Rent obligations of the Municipality under the Lease including, Authority Administrative Expenses and Additional rent, (ii) all amounts due and owing to the County as a result of payments made by the County on behalf of the Municipality under the Lease pursuant to the County Guarantee, including County Guarantee Costs and (iii) all direct and indirect costs of the Authority and the County related to the enforcement of the Lease and the County Guarantee (i), (ii) and (iii) collectively, the “Lease Payment Obligation”). The Lease Payment Obligation under the Lease shall be a direct, unlimited and general obligations of the Municipality, not subject to annual appropriation by the Municipality, pursuant to the County Improvement Authorities Law, and unless paid from other sources, the Municipality shall be obligated to levy ad valorem taxes upon all the taxable property within the Municipality for the payment of the Lease Payment Obligation thereunder without limitation as to rate or amount.
The Mayor or an Authorized Municipal Representative is hereby authorized and directed to execute the Lease on behalf of the Municipality in substantially such form as attached hereto in Exhibit A and the Clerk of the Municipality is hereby authorized and directed to attest to such signature and affix the seal of the Municipality thereto. All representatives, officials and employees of the Municipality are hereby authorized and directed to enforce and to implement provisions of the Lease.
The following additional matters are hereby determined, declared, recited and stated: (1) The maximum principal amount for which the Municipality shall be obligated
hereunder for the payment of principal of and interest on the Bonds of the Authority shall not exceed the sum necessary to acquire the Municipality’s Equipment described in Exhibit B which will be subject to the Lease and to pay the Municipality’s share of the costs of issuance, Authority Administrative Expenses, Additional rent, County Guarantee Costs and all other amounts required to be paid by the Municipality under the Lease. (2) The Bonds shall mature within fifteen (15) years of the date of issue. (3) The Lease Payment Obligation authorized herein shall remain effective until all the
Authority’s Bonds shall have been paid in full in accordance with their terms and/or when all obligations of the Municipality under the Lease have been satisfied, notwithstanding the occurrence of any other event, including but not limited to the termination of the Lease with respect to some or all of the items of Equipment leased thereunder. (4) The Items of Equipment described in Exhibit B are hereby approved to be leased
from the Authority in accordance with the terms of the Lease, with such changes, amendments or modifications as may be approved by counsel or bond counsel to the Authority.
The governing body of the Municipality hereby authorize the performance of any act, the execution or acknowledgment and delivery of any other document, instrument or closing certificates, which the Authorized Officer, after consultation with the Consultants, deems necessary, desirable or convenient in connection with this contemplated transaction, and the governing body hereby directs the Authorized Officer to execute or acknowledge, and cause the Clerk of the Municipality to attest and affix the seal to any such documents, instruments or closing certificates, the authorization of which actions shall be conclusively evidenced by the execution or acknowledgment, attestation, affixation and delivery, as the case may be, thereof by such persons. Such closing certificates shall include, without limitation, (a) a determination that any information provided by the Municipality in connection with the preparation and distribution of the (i) any preliminary official statement or supplement with relation to the Bonds is “deemed final” for the purposes and within the meaning of Rules 15c2-12, promulgated by the Securities and Exchange Commission pursuant to the Securities and Exchange Act of 1934, as amended (“Rule 15c2-12”) and (ii) any official statement or supplement with relation to the Bonds constitutes a final Official Statement for the purposes and within the meaning of Rule 15c2-12, (b) a determination that the Municipality Continuing Disclosure Agreement complies with Rule 15c2-12,(c) a determination that any information provided by or on behalf of the Municipality or relating to the Municipality, the Initial Project, the Financing Documents or the transactions contemplated thereby in connection with the preparation and distribution of any such Preliminary Official Statement or the Official Statement complies with Section 10 and Rule 10b-5 of the Securities Exchange Act, and (d) any representations, warranties, covenants, certificates or instruments required by any issuer of a municipal bond insurance policy or any other form of credit enhancement securing all or a portion of the Bonds or the issuer of a rating on all or a portion thereof.
Upon the payment of all amounts referred in Section 6 (3) herein, the full faith and credit pledge of the Municipality as to its Lease Payment Obligations authorized herein shall cease to exist.
The provisions of the ordinance are severable. To the extent any clause, phrase, sentence, paragraph or provision of this ordinance shall be declared invalid, illegal or unconstitutional, the remaining provisions shall continue to be in full force and effect.
The Municipal Clerk is hereby directed to publish and post notice of this ordinance as required by law.
Upon the adoption hereof, the Municipal Clerk shall forward certified copies of this ordinance to the Mayor, Town Administrator, Chief Financial Officer, Municipal Attorney, the Authority, Rogut McCarthy & Bhend, Bond Counsel to the County, and Frohling, Hudak & McCarthy, P.C., Bond Counsel to the Authority.
This ordinance shall take effect twenty (20) days after final adoption and publication in accordance with applicable law.
Union County Improvement Authority Capital Equipment Lease Program
Series 1999 Town of Westfield
Estimated QTY. EQUIPMENT DESCRIPTION EST. COST Useful Life
2 5YC Dump Trucks $170,000 5 1 3YC Dump Truck 60,000 5 1 Skid-Steer Loader 30,000 5 1 Front End Loader 100,000 5 1 Pickup Truck 25,000 5 1 Fire Dept. Communications System 135,000 10 2 Fire Dept. Pumpers 700,000 10
$1,220,000 1 T – 2/11/99, The Leader Fee: $361.08
PUBLIC NOTICE PUBLIC NOTICE
New Health Series Planned For Senior At St. Barnabas
The Center for Health and Wellness and Senior Health will hold a monthly series of health talks entitled “The Wellness Connection” beginning on Monday, February 22, at 10:30 a.m. at the St. Barnabas Ambulatory Care Center, Conference Room A and B, First Floor, 200 South Orange Avenue, Livingston.
Presenters will be staff members from the center. A different wellness topic will be featured each month.
The February 22 program entitled, “Fall Prevention — Environmental and Physical Methods to Prevent Falls
and Fractures,” will be presented by Marco Anzalone, Exercise Physiologist.
He will discuss common causes of falls in the elderly, how to make a home environment safe and the physical changes that can be made to prevent and withstand falls.
Mr. Anzalone will also discuss other community services available that can assist with fall and fracture prevention for the elderly. This program will be free of charge. Reservations will be required. For more information, please call (973) 322-4205.
We Are Just A Please Call Away!