BOROUGH OF RIVERTON

ORDINANCE O-2023-02

 AN ORDINANCE TO EXCEED THE MUNICIPAL BUDGET APPROPRIATION LIMITS AND TO ESTABLISH A CAP BANK FOR CALENDAR YEAR 2022 (N.J.S.A. 40a:4-45.14)

PUBLIC NOTICE is hereby given that the foregoing Ordinance was introduced on the first reading by the Borough Council of the Borough of Riverton held on March 21, 2023.

This Ordinance will be considered for final adoption after a public hearing to be held on  April 18, 2023 at 7:00pm prevailing time at the Borough Hall 505A Howard Street, Riverton, NJ 08077.

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 2023 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