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Bellmawr Council approved a motion at its special meeting on Tuesday night authorizing a Bond Anticipation Note in the amount of $3,949,620. The Bond Anticipation Note was awarded to first Colonial National Bank at the interest rate of 0.849%.
Councilman Paul Sandrock asked for clarification and Councilman Steve Sauter responded: “We are just re-financing the note.”
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To see a description of the items that are included as part of the Ordinance, click below.
Council also voted to approve Resolution #08:166-16, the Flood Damage Prevention Ordinance, statutory authorization, findings of fact, purpose and objectives.
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Additionally, council approved Resolution #08:167-16, authorizing the payment of August’s bills. Voting yes were: Councilmen Ray Bider, Jim D’Angelo, David Spector, Steve Sauter, and Steve Hagerty. Councilman Paul Sandrock abstained from voting on this motion. Mayor Frank Filipek was absent from the meeting.
To see the agenda from the Special Meeting, click below.
August 16, 2016 Special Meeting Agenda
Council meets again on Thursday, August 18 at 5:00 p.m. in the Conference Room of Borough Hall.
Council’s next regular meet is Thursday. August 25 at 7:00 p.m. in the Courtroom of Borough Hall.