NOTICE OF EMERGENT MEETING
TAKE NOTICE that on June 17, 2015, at 4 p.m. the Board of Chosen Freeholders of the County of Cumberland held an emergent public meeting pursuant to N.J.S.A. 10:4-9 with respect to discussion and acting upon matters of urgency and importance relating to the following:
- Resolution 2015-271A, A Resolution of the Board of Chosen Freeholders of the County of Cumberland, State of New Jersey, consenting to a project and financing by the Cumberland County Improvement Authority in connection with the issuance of not exceed $17,000,000 County guaranteed solid waste system revenue refunding bonds, series 2015A pursuant to N.J.S.A. 40:37A-56; and
- Resolution 2015-274A, A Resolution determining the form and other details of $3,200,000 general obligation bonds (County College Bond Series) of the County of Cumberland, New Jersey, and providing for their sale.
The aforesaid meeting was being noticed on an emergent basis in according with N.J.S.A. 10:4-9 in that the notice of the regularly scheduled meeting of the Board of Chosen Freeholders of the County of Cumberland held at 6 p.m. on June 16, 2015, may have been inadequately noticed as to location.
Pursuant to N.J.S.A. 10:4-9 the meeting was called to order and at least three quarters of the full Board, by a vote of 7-0, voted to conduct an emergent meeting to address the aforesaid resolutions.
The aforesaid emergent meeting was necessary to avoid substantial harm to the public interests with respect to the issuance of the aforesaid bond guarantee and setting the form and other details of the $3,200,000 obligation bond, County College Bonds Series. The failure to ratify the aforesaid resolutions would jeopardize State funding with respect to the County College Bond Series and could have adversely impacted the ability of the Cumberland County Improvement Authority to meet its contractual obligations with respect to revenue refunding bonds and would result in inability to meet closing and bid obligations scheduled for June 18, 2015, such that substantial adverse impact to the public interest could have occurred. In order to eliminate such adverse impact to the public interest and in order to minimize harm to the public interest, the aforesaid two resolutions was considered and passed at the County Administration Building, 164 W. Broad Street, Bridgeton, New Jersey, on June 17, 2015, at 4 p.m.
All other business and actions taken at the June 16, 2015, meeting will be rescheduled and will be on the agenda for discussion and a decision at the Board’s regularly scheduled public meeting to be held on June 23, 2015, at 6 p.m. at the County Administration Building at 164 W. Broad Street, Bridgeton, New Jersey.