Ms. Angelo Called the Roll

The Regular Meeting of the City Council of the City of Hackensack was held at City Hall, 65 Central Avenue, Hackensack, New Jersey, on Monday, August 4, 2014, at8:00pm.

Mayor Labrosse called the meeting to order andRegina Angelo announcedthat the meeting was being held in accordance with the Sunshine Law, notice having been published according to law, with a copy on file in the City Clerk’s office, and a copy posted on the bulletin board in City Hall.

Ms. Angelo called the roll:

Present – Mayor John P. Labrosse, Jr., Deputy Mayor Canestrino, CouncilmanLeonardo Battaglia,Councilman David Sims, and CouncilwomanGreenman were present. Interim City Manager Art Koster and Attorney Joseph Morris was in attendance for City Attorney Thomas P. Scrivo. Regina Angelo was in attendance for City Clerk Deborah Karlsson.

No minutes available for approval.

Moment of silence observed for the death of Councilman Battaglia’s father.

Flag Salute

City Manager’s Report –Mr. Koster updated Council about Van Wettering sidewalk and white goods complaint. Building department has attended to the sidewalks and the constable has been there keeping an eye out for illegal white good dumping. They did not have a C.O. The “Z” cut-outs in the road way will be milled and paved after PSE&G has completed their work on the roadways. Quarterly Tax Bills will be mailed out the week of August 11th with a due date of September 4th. They must be in the office by 4pm. No extra grace time will be added past the 4:00 pm deadline. Cameras on Hudson Street were installed and everything should be completed and running by the end of this week. The new Hackensack website should be up and running soon. It will include the redevelopment email blasts to residents and developers to keep everyone informed. August 5th is National Night Out from 6-7:30pm and a concert on The Green will follow at 7:30pm featuring Filet of Soul. Congratulate Councilman Sims for the Hackensack Junior Basketball. It was a great weekend.

Council Member / Intro / Second / Yes / No / Abstain / Absent / Excused
Battaglia / x
Deputy Mayor Canestrino / x / x
Sims / x / x
Greenman / x
Mayor Labrosse / x

CITY OF HACKENSACK

RESOLUTION NO. 263-14

RE-INTRODUCTION OF ORDINANCE NO. 24-2014, REFUNDING BOND ORDINANCE OF THE CITY OF HACKENSACK, IN THE COUNTY OF BERGEN, STATE OF NEW JERSEY (THE “CITY”) PROVIDING FOR THE PAYMENT OF AMOUNTS OWING TO OTHERS FOR TAXES LEVIED IN THE CITY APPROPRIATING $8,650,000 THEREFOR AND AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $8,650,000 AGGREGATE PRINCIPAL AMOUNT OF BONDS OR NOTES OF THE CITY FOR FINANCING THE COST THEREOF

BE IT RESOLVED that the above ordinance, being Ordinance 24-2014 as re-introduced, does now pass on first reading and that said Ordinance shall be considered for final passage at a meeting to be held on August 18, 2014 at 8:00 p.m. or as soon thereafter as the matter can be reached at the regular meeting place of the City Council and at such time and place all persons interested be given an opportunity to be heard concerning said Ordinance and that the City Clerk be and she is hereby authorized and directed to publish said ordinance according to law with a notice of its re-introduction and passage on first reading and of the time and place when and where said ordinance will be further considered for final passage.

CITY OF HACKENSACK

BOND ORDINANCE 24-2014

REFUNDING BOND ORDINANCE OF THE CITY OF HACKENSACK, COUNTY OF BERGEN, NEW JERSEY AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $8,650,000 AGGREGATE PRINCIPAL AMOUNT OF REFUNDING BONDS AND/OR REFUNDING NOTES OF THE CITY FOR THE PURPOSE OF PAYING AMOUNTS OWING TO VARIOUS TAXPAYERS FOR TAXES LEVIED IN THE CITY AND APPROPRIATING THE PROCEEDS OF SUCH REFUNDING BONDS/REFUNDING NOTES TO SUCH PURPOSE

WHEREAS, pursuant to the Local Bond Law, N.J.S.A. 40A:2-1 etseq., as amended and supplemented (the “Local Bond Law”), the City of Hackensack, County of Bergen, State of New Jersey (the “City”) has determined to provide for the payment of tax appeal judgments and settlements with various taxpayers, plus costs associated with such appeals and the issuance of Refunding Obligations (as hereinafter defined), through the issuance by the City of refunding bonds (the “Refunding Bonds”) and/or refunding notes (the “Refunding Notes”) in an aggregate principal amount not to exceed $8,650,000 (the Refunding Bonds and the Refunding Notes shall be referred to herein collectively, as the “Refunding Obligations”), as provided in this refunding bond ordinance; and

WHEREAS, such amounts are currently owed to taxpayers based upon judgments and settlements of various property tax appeals; and

WHEREAS, the City now desires to authorize the issuance of not to exceed $8,650,000 in Refunding Obligations to pay its current tax liabilities to taxpayers.

NOW, THEREFORE, BE IT ORDAINED AND ENACTED BY THE CITY COUNCIL OF THE CITY OF HACKENSACK, IN THE COUNTY OF BERGEN, STATE OF NEW JERSEY (not less than two-thirds of all members thereof affirmatively concurring) AS FOLLOWS:

Section 1.In order to finance the purposes described in Section 2 hereof, negotiable Refunding Obligations of the City are hereby authorized to be issued in an aggregate principal amount not to exceed $8,650,000. The proceeds of the Refunding Obligations are hereby appropriated to the purposes described in Section 2 hereof.

Section 2.(a) The purposes for which the Refunding Obligations are to be issued are paying tax appeal judgments and settlements with various taxpayers, as set forth in the List of Settled Appeals, which list is available for inspection in the Office of the City Clerk, in an amount not to exceed $8,650,000 including all costs associated with such appeal, and including paying the costs of issuance relating to the Refunding Obligations, including, but not limited to, printing, advertising, accounting, financial and legal services, rating agency fees, underwriter’s discount, and bond insurance premiums, if any.

(b) The aggregate cost of issuing the Refunding Obligations and all costs associated with the aforesaid tax appeal judgments and settlements, as provided by N.J.S.A. 40A:2-51(b), shall not exceed $100,000, which amount includes all items described in Section 2(a) hereof. Such amount is included in the maximum authorized aggregate principal amount of Refunding Obligations set forth in Section 1 hereof.

Section 3.Any further provisions as to terms of sale, deposit, security regulation, investment, reinvestment, disposition or application of the proceeds of the Refunding Obligations, and matters in connection therewith, shall be determined by resolution of the City adopted prior to the issuance of the Refunding Obligations, except that refunding notes shall be issued in accordance with the provisions of Section 4 and Section 12 of this refunding bond ordinance and no subsequent resolution of the City is required to be adopted to authorize the issuance of refunding notes.

Section 4.All other matters relating to the Refunding Bonds shall be performed or determined by subsequent resolution of the City, or the performance or determination thereof shall be delegated by resolution of the City to a financial officer of the City.

Section 5.A certified copy of this refunding bond ordinance, as introduced and adopted upon first reading, shall be filed with the Director of the Division of Local Government Services, in the New Jersey Department of Community Affairs prior to final adoption hereof, together with the statement signed by the Chief Financial Officer of the City required by N.J.S.A. 40A:2-55.

Section 6.The full faith and credit of the City are hereby pledged to the punctual payment of the principal of and the interest on the Refunding Obligations. The Refunding Obligations shall be direct, unlimited obligations of the City, and, unless paid from other sources, the City shall be obligated to levy ad valorem taxes upon all the taxable property within the City for the payment of the Refunding Obligations and the interest thereon without limitation as to rate or amount.

Section 7.After passage upon first reading of this refunding bond ordinance, the City Clerk is hereby authorized and directed to publish a summary of this refunding bond ordinance, together with the “NOTICE OF PENDING BOND ORDINANCE” (with appropriate completions, insertions and corrections), at least once in a newspaper qualified under N.J.S.A. 40A:2-19, at least seven (7) days prior to the date of the public hearing and further consideration for final passage (which date shall be at least ten (10) days after introduction and first reading). The City Clerk is further directed to comply with all provisions of N.J.S.A. 40A:2-17(b) regarding postings, publications, and the provision of copies of this refunding bond ordinance.

Section 8.After final adoption of this refunding bond ordinance by the City Council, the City Clerk is hereby directed to publish a summary of this refunding bond ordinance, as finally adopted, together with the “NOTICE OF ADOPTION OF BOND ORDINANCE” (with appropriate completions, insertions and corrections), at least once in a newspaper qualified under N.J.S.A. 40A:2-19.

Section 9.The City Council hereby covenants on behalf of the City to take any action necessary or refrain from taking such action in order to preserve the tax-exempt status of the Refunding Obligations authorized hereunder as is or may be required under the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (the “Code”), including compliance with the Code with regard to the use, expenditure, investment, timely reporting and rebate of investment earnings as may be required thereunder.

Section 10.All Refunding Notes issued hereunder shall mature at such times as may be determined by the Chief Financial Officer of the City, provided that no note shall mature later than one (1) year from its date. The notes shall bear interest at such rate or rates and be in such form as may be determined by the Chief Financial Officer. The Chief Financial Officer of the City shall determine all matters in connection with the notes issued pursuant to this refunding bond ordinance and the signature of the Chief Financial Officer upon the notes shall be conclusive evidence as to all such determinations. All notes issued hereunder may be renewed from time to time in accordance with the provisions of the Local Bond Law. The Chief Financial Officer is hereby authorized to sell part or all of the notes from time to time at a public or private sale and to deliver them to the purchaser thereof upon receipt of payment of the purchase price and accrued interest thereon from their dates to the date of delivery thereof. The Chief Financial Officer is directed to report in writing to the governing body at the meeting next succeeding the date when any sale or delivery of the notes pursuant to this refunding bond ordinance is made. Such report must include the principal amount, the description, the interest rate, and the maturity schedule of the notes so sold, the price obtained and the name of the purchaser.

Section 11.The supplemental debt statement required by the Local Bond Law has been duly made and filed in the Office of the Clerk of the City and a complete executed duplicate thereof has been filed in the Office of the Director of the Division of Local Government Services, New Jersey Department of Community Affairs, and such statement shows the gross debt of the City as defined in the Local Bond Law is increased by the authorization of the bonds or notes provided for in this refunding bond ordinance by $8,650,000and the said obligations authorized by this refunding bond ordinance will be within all debt limitations prescribed by said Local Bond Law.

Section 12.This refunding bond ordinance shall take effect twenty (20) days after the first publication hereof after final adoption, as provided in the Local Bond Law, but not prior to the time that the consent of the Local Finance Board in the Division of Local Government Services, New Jersey Department of Community Affairs has been endorsed upon a certified copy of this refunding bond ordinance as finally adopted, as provided by N.J.S.A. 40A:2-55.

Council Member / Intro / Second / Yes / No / Abstain / Absent / Excused
Battaglia / x
Deputy Mayor Canestrino / x / x
Sims / x / x
Greenman / x
Mayor Labrosse / x

CITY OF HACKENSACK

RESOLUTION NO.264-14

INTRODUCTION OF ORDINANCE NO. 25-2014, BOND ORDINANCE PROVIDING FOR ATLANTIC STREET PARK IMPROVEMENTS, BY AND IN THE CITY OF HACKENSACK, IN THE COUNTY OF BERGEN, STATE OF NEW JERSEY; APPROPRIATING $650,000 THEREFOR AND AUTHORIZING THE ISSUANCE OF $617,500 BONDS OR NOTES OF THE CITY TO FINANCE PART OF THE COST THEREOF

BE IT RESOLVED that the above ordinance, being Ordinance 25-2014 as introduced, does now pass on first reading and that said Ordinance shall be considered for final passage at a meeting to be held on August 18, 2014 at 8:00 p.m. or as soon thereafter as the matter can be reached at the regular meeting place of the City Council and at such time and place all persons interested be given an opportunity to be heard concerning said Ordinance and that the City Clerk be and she is hereby authorized and directed to publish said ordinance according to law with a notice of its introduction and passage on first reading and of the time and place when and where said ordinance will be further considered for final passage

CITY OF HACKENSACK

ORDINANCE NUMBER 25-2014

BOND ORDINANCE PROVIDING FOR ATLANTIC STREET PARK IMPROVEMENTS, BY AND IN THE CITY OF HACKENSACK, IN THE COUNTY OF BERGEN, STATE OF NEW JERSEY; APPROPRIATING $650,000 THEREFOR AND AUTHORIZING THE ISSUANCE OF $617,500 BONDS OR NOTES OF THE CITY TO FINANCE PART OF THE COST THEREOF

BE IT ORDAINED AND ENACTED BY THE CITY COUNCIL OF THE CITY OF HACKENSACK, IN THE COUNTY OF BERGEN, STATE OF NEW JERSEY (not less than two-thirds of all the members thereof affirmatively concurring), AS FOLLOWS:

SECTION 1. The improvement described in Section 3 of this bond ordinance is hereby authorized as a general improvement or purpose to be undertaken by the City of Hackensack, in the County of Bergen, State of New Jersey (the "City"). For the said improvement or purpose stated in Section 3, there is hereby appropriated the sum of $650,000, said sum being inclusive of $32,500 as the amount of down payment for said improvement or purpose as required by the Local Bond Law, N.J.S.A. 40A:2-1 etseq. (the “Local Bond Law”). The down payment is now available by virtue of a provision or provisions in a previously adopted budget or budgets of the City for down payment or for capital improvement purposes.

SECTION 2. For the financing of said improvement or purpose described in Section 3 hereof, and to meet the part of said $650,000 appropriation not provided for by application hereunder of said down payment, negotiable bonds of the City are hereby authorized to be issued in the principal amount of $617,500 pursuant to the Local Bond Law. In anticipation of the issuance of said bonds and to temporarily finance said improvement or purpose, negotiable notes of the City in a principal amount not exceeding $617,500 are hereby authorized to be issued pursuant to and within the limitations prescribed by said Local Bond Law.

SECTION 3.(a) The improvements hereby authorized and purpose for the financing of which said obligations are to be issued is for the undertaking of Atlantic Street park improvements including the construction of a new public park with an open-air performance stage, all site work and the acquisition and installation of all plantings and equipment and including all engineering and design work, surveying, construction planning, preparation of plans and specifications, permits, bid documents, construction inspection and contract administration, and all work, materials, equipment, labor and appurtenances necessary therefor or incidental thereto.

(b) The estimated maximum amount of bonds or notes to be issued for said purpose is $617,500.

(c) The estimated cost of said purpose is $650,000.

SECTION 4. In the event the United States of America, the State of New Jersey and/or the County of Bergen make a contribution or grant in aid to the City for the improvement and purpose authorized hereby and the same shall be received by the City prior to the issuance of the bonds or notes authorized in Section 2 hereof, then the amount of such bonds or notes to be issued shall be reduced by the amount so received from the United States of America, the State of New Jersey and/or the County of Bergen. In the event, however, that any amount so contributed or granted by the United States of America, the State of New Jersey and/or the County of Bergen shall be received by the City after the issuance of the bonds or notes authorized in Section 2 hereof, then such funds shall be applied to the payment of the bonds or notes so issued and shall be used for no other purpose. This Section 4 shall not apply, however, with respect to any contribution or grant in aid received by the City as a result of using funds from this bond ordinance as “matching local funds” to receive such contribution or grant in aid.

SECTION 5. All bond anticipation notes issued hereunder shall mature at such times as may be determined by the Chief Financial Officer of the City, provided that no note shall mature later than one (1) year from its date. The notes shall bear interest at such rate or rates and be in such form as may be determined by the Chief Financial Officer of the City. The Chief Financial Officer of the City shall determine all matters in connection with the notes issued pursuant to this bond ordinance, and the signature of the Chief Financial Officer of the City upon the notes shall be conclusive evidence as to all such determinations. All notes issued hereunder may be renewed from time to time in accordance with the provisions of N.J.S.A. 40A:2-8.1. The Chief Financial Officer of the City is hereby authorized to sell part or all of the notes from time to time at public or private sale and to deliver them to the purchaser thereof upon receipt of payment of the purchase price and accrued interest thereon from their dates to the date of delivery thereof. The Chief Financial Officer of the City is directed to report in writing to the governing body at the meeting next succeeding the date when any sale or delivery of the notes pursuant to this bond ordinance is made. Such report must include the principal amount, the description, the interest rate, and the maturity schedule of the notes so sold, the price obtained and the name of the purchaser.