FREEHOLD – The Borough Council has adopted a bond ordinance that will help to pay for road and infrastructure repairs and improvements in Freehold Borough.
On June 18, council members adopted the ordinance following a public hearing. The funds will provide for road resurfacing, storm drainage repairs and crosswalk improvements. The bond ordinance appropriates $800,000 for the improvements and authorizes the issuance of $583,000 in bonds and notes to finance a portion of the costs.
The costs that are not covered by the issuance of bonds or notes will be financed by a $185,000 grant that has been received from the New Jersey Department of Transportation and a down payment of $32,000, according to the ordinance.
According to the ordinance, the improvements will consist of road resurfacing, storm drainage repairs and crosswalk improvements, including, but not limited to, the resurfacing of Phyllis Drive and Vrendenburgh Avenue, storm drainage repairs on Liberty Street, and pedestrian crosswalk improvements on East Main Street.
In other business, council members adopted a bond ordinance that will provide $240,000 for capital improvements and the acquisition of capital equipment. The ordinance authorizes the issuance of $228,000 in bonds and notes to finance a portion of the costs for the improvements, with a down payment of $12,000 covering the remainder of the costs.
The improvements will consist of capital improvements and the acquisition of equipment, including, but not limited to, an equipment transport trailer, a riding mower, a scarifier (dethatcher), air packs, a heavy duty pickup truck, a fire chief vehicle, firehouse improvements and municipal building security upgrades, according to the ordinance.
And, the council adopted a bond ordinance that will provide $210,000 for water-sewer utility improvements. The ordinance authorizes the issuance of $199,000 in bonds and notes to finance a portion of the costs and a down payment of $11,000. The improvements will consist of insertion valve line stops, manhole relining and the replacement of seven fire hydrants.
