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Council adopts bond ordinances to fund improvements in Freehold Borough

FREEHOLD – Three bond ordinances appropriating a total of $2.6 million for various improvements in Freehold Borough have been adopted by the Borough Council.

The bond ordinances, which were adopted on June 7, authorize the issuance of $2.02 million in bonds or notes to help finance the costs of the improvements.

The first bond ordinance will appropriate $1.8 million for road improvements and authorize the issuance of $1.26 million in bonds or notes. The road improvements will include Stokes Street and Ford Avenue.

Municipal officials said $305,000 in grant funds are expected to be received from the New Jersey Department of Transportation to help finance the Stokes Street improvements.

Municipal officials said $173,158 in grant funds are expected to be received from the Monmouth County Community Development Block Grant program to help finance the Ford Avenue improvements.

A $63,842 down payment will cover the remaining costs of the improvements outlined in the first bond ordinance.

The second bond ordinance will appropriate $600,000 for the acquisition of capital equipment and authorize the issuance of $571,000 in bonds or notes. The remaining costs outlined in the second bond ordinance will be covered by a $29,000 down payment.

The capital equipment to be acquired includes portable radios for the Freehold Borough Police Department, portable radios and air packs for the Freehold Fire Department, a full-size dump trunk, and playground and park equipment and signs.

The third bond ordinance will appropriate $200,000 for water-sewer utility improvements and the acquisition of water-sewer utility equipment, while authorizing the issuance of $190,000 in bonds or notes.

Municipal officials said a $10,000 down payment will cover the remaining costs outlined in the third bond ordinance.

The water-sewer utility improvements will include a new roof at the Browne Avenue pump station, grinders for the Court Street and Browne Avenue pump stations, a generator for the Dogwood Lane pump station, electrical upgrades and pumps at the Patriots Point pump station, and manhole relining.

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