COURT HOUSE – Middle Township will meet its capital needs this year without new borrowing. In an ordinance introduced Aug. 20, Middle Township Committee is planning to reallocate $364,200 in remaining balances from previous bond ordinances. The township will then add to the repurposed funds $275,300 from the Capital Improvement Fund.
The capital projects scheduled for 2018 will be paid with the combined $639,500 obviating the need for new debt.
Township Chief Financial Officer Susan Quinones explained the process at a work session. The ordinance was introduced at the regular meeting.
The ordinance will come up for second reading and public hearing at the Sept. 17 committee meeting.
