BOROUGH OF RIVERTON

ORDINANCE O-2022-02

AN ORDINANCE TO EXCEED THE MUNICIPAL BUDGET APPROPRIATION LIMITS AND TO ESTABLISH A CAP BANK FOR CALENDAR YEAR 2021 (N.J.S.A. 40a:4-45.14)

PLEASE TAKE NOTICE that the foregoing Ordinance was adopted by the Borough Council of the Borough of Riverton at a meeting held on June 21, 2022 at 7:00pm prevailing time at 505A Howard Street in Riverton which was duly advertised.

A copy of the Ordinance may be obtained without cost by any member of the general public at the Clerk’s Office by calling 856-829-0120 on week days between the hours of 8:30am and 4:00pm.

EXPLANATORY STATEMENT

The purpose of this Ordinance is to limit any increase in said budget to 1.0% to permit the final appropriation of the annual budget to increase by a percentage rate greater than the index rate 3.5% for 2022 as certified by the Director of Local Government Services in the Department of Community Affairs.  The final appropriation may not exceed 3.5% rate as provided by law.

Attest: Michelle Hack, RMC

Borough Clerk