About Bonds

Bond In Investing Savings The Vernon Township Council, in response to a petition drive, is planning to rescind a pair of bond ordinances totaling $4.7 million for a park, officials said yesterday. The petitions, submitted last month, contained about 1,756 signatures -- nearly double the 864 needed -- and stemmed from council plans to build a recreation complex on 180 acres on Maple Grange Road. The town purchased the land a few years ago.

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Bond Investment Toledo Toledo After being deemed valid, the petitions left the council with several options: withdraw the bond ordinances; place them before voters in a public referendum; rescind the ordinances and adopt substantially similar ones; or rescind them and place the council's own park referendum question before voters, Township Attorney Joseph Ragno said.

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James Bond Trading Card On Monday, the council introduced an ordinance to rescind the two park bond ordinances, and a public hearing on the withdrawal measure will be held June 24.

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Bond In Investing Stock "We will unveil on the 24th a plan that addresses the concerns by all those who signed the petitions," Vernon Mayor John Logan said. He would not be more specific.

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Municipal Bonds Investment The Maple Grange tract includes the 40-acre Black Creek Native American site that was designated historic on April 1.

The state Planning Commission yesterday designated parts of Vernon and Sparta as "centers" in New Jersey's blueprint for growth. Environmentalists questioned the wisdom of allowing dense development in rural areas, but officials said center designations were preferable to the unplanned growth that has been the norm. "What if we did nothing " asked commission Chairman Timothy Touhey. "These areas met the plan criteria, and they are working on controlling growth outside the center."

Bond Terms Trading The bond ordinances, which were adopted April 29, include $1.4 million for football fields and parking on the 40-acre historic section and $3.3 million for some 10 other various fields on the remaining 140 acres, an outdoor rink, a bocce ball court, a snack bar/pavilion, parking and restrooms.

Bond Debt High In Inside Ragno said there likely would not be a referendum on the rescinded bonds, and he and the town's bond counsel and engineer are working on a new proposal.

Bond Greenville Greenville "A plan has to be made for the ultimate development of Vernon's park," Ragno said. "There were enough signatures to indicate concern about the (dollar) amounts proposed in those bonds."

Trading Stock And Bonds One of the petition organizers, Jessica Paladini, said, "Should the council insult the residents by rescinding the original park bonds and replacing them with slightly lower dollar amounts, we will circulate a petition for an initiative (to) once and for all put a park question on the ballot for voter approval."

Bond Investing Municipal By Jim Lockwood
Star-Ledger - 6/12/2002

Topic: Highlands

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