SOUTH RIVER –The Borough Council introduced a $300,000 bond ordinance to fund various capital improvements for Main Street in South River.
The improvements to Main Street will include concrete curbs, concrete sidewalks, planters, wiring, landscaping and various other improvements, according to the council agenda.
The council approved the first reading of the bond ordinance on Aug. 27 during the council’s special meeting. According to Borough Clerk Bill Bray, the second and final reading for the bond ordinance will be on Sept. 10.
For the improvements that will cost a sum of $300,000, the borough will make a $15,000 down payment for the improvement or purpose required by the Local Bond Law, according to the council agenda.
In order to finance the cost of the improvement or purpose not covered by the application of the down payment, negotiable bonds are hereby authorized to be issued in the principal amount of $285,000 pursuant by the Local Bond Law, according to the agenda.
The bond ordinance shall take effect 20 days after the first publication thereof after the final adoption, according to the agenda.
For more information, visit www.southrivernj.org/agendas/council/.
Contact Vashti Harris at vharris@newspapermediagroup.com.
