More than $16,000,000 in bonds in will go toward the financing of water-sewer improvements, according to a resolution passed at the Monday, July 24 Moorestown Township Council meeting.
At its July meeting, Moorestown Township Council authorized the sale of more than $16 million in water-sewer utility bonds to finance improvements.
Deputy Township Manager Thomas Merchel said the water-sewer utility bond encompasses approximately 15 projects — the most notable of which being the Kings Highway Water Treatment Plant upgrades.
The bonds also include improvements to water and sewer infrastructure, replacement of water mains, pavement repairs and other water and sewer improvements.
“What this resolution does is it’s consolidating all these different projects into one,” Merchel said.
Resident Paul Conlow asked about the sale.
“Aren’t the bonds usually an ordinance?” Conlow asked.
Merchel said as chief financial officer, he has the authorization from town council every year to borrow money from notes, but council has to approve the sale of bonds through a resolution. He said council’s authorization enables him to take the bond out to market, and with interest rates at a historic low, now is the ideal time to do so.
In keeping with financial matters, council authorized the purchase of safety netting at Wesley Bishop Park Turf Fields for $33,547. Council member Michael Locatell said the netting will essentially encompass the end zones of the fields.
The purpose of the netting is to contain stray lacrosse and soccer balls, Merchel said.
“The most dangerous are the lacrosse balls that come down and do damage to cars and people walking up,” Merchel said.
The resolution’s inclusion on the agenda prompted resident Edwin Begg to inquire how much money private sports clubs are giving to the township. Begg said in his eyes, the recreation department sports participants who use local athletic fields have to pay a fee, but he wondered if private sports club field users are contributing equally.
He cautioned council to consider the disparity before voting on financing the netting.
“Increasingly, the council is gaining the reputation of being a soft touch,” Begg said. “I’ll leave it up to members of the council in a few minutes when we go to a vote whether each of you want to continue to be a soft touch.”
Merchel said he did not have the exact amount private groups contribute each year, but he would look it up to report back to Begg. The resolution passed unanimously.
In other news:
• Council extended the tax payment grace period for the third quarter from Aug. 10 to Sept. 1. Merchel said third quarter taxes are still due Aug. 1, but as Burlington County has not yet struck its rates, the township is in a holding pattern.
“We picked Sept. 1 because we feel we’ll hopefully have them out sometime next week,” Merchel said.
Tax payments received after Sept. 1 will be charged interest.
• The next regular township council meeting will be held on Monday, Aug. 14 at 7 p.m. in Town Hall.
