2696-22 - Special Emergency Ordinance (950,000 - Severance Liabilities).pdf

#13364523.1 168182/002 TOWNSHIP OF WEST ORANGE ORDINANCE NUMBER 2696-22 ORDINANCE OF THE TOWNSHIP OF WEST ORANGE, IN THE COUNTY OF ESSEX, STATE OF NEW JERSEY PROVIDING FOR A SPECIAL EMERGENCY APPROPRIATION IN AN AMOUNT NOT TO EXCEED $950,000 TO FUND CONTRACTUALLY REQUIRED SEVERANCE LIABILITIES RESULTING FROM THE RETIREMENT OF EMPLOYEES IN THE TOWNSHIP WHEREAS, N.J.S.A. 40A:4-53 provides that a local unit such as the Township of West Orange, in the County of Essex, State of New Jersey (the “Township”), may adopt an ordinance authorizing a special emergency appropriation for the payoff of contractually required severance liabilities resulting from the layoff or retirement of employees of the Township; and WHEREAS, pursuant to N.J.S.A. 40A:4-53, the Township desires to authorize a special emergency appropriation in the amount of $950,000 to fund the cost of contractually required severance liabilities resulting from the retirement of employees of the Township. BE IT ORDAINED AND ENACTED BY THE TOWNSHIP COUNCIL OF THE TOWNSHIP OF WEST ORANGE, IN THE COUNTY OF ESSEX, STATE OF NEW JERSEY (not less than the majority of all members thereof affirmatively concurring) AS FOLLOWS: SECTION 1. Pursuant to N.J.S.A. 40A:4-53, the amount of $950,000 (i) is hereby appropriated to fund the cost of contractually required severance liabilities resulting from the retirement of employees of the Township, and (ii) shall be deemed a special emergency appropriation as defined and provided for in N.J.S.A. 40A:4-53. SECTION 2. To finance the appropriation authorized hereunder, and described in Section 1 hereof, special emergency notes of the Township (the “Notes”) shall be authorized by a resolution of the Township Council of the Township to be adopted in accordance with the provisions of N.J.S.A. 40A:4-55. SECTION 3. A certified copy of this ordinance as finally adopted will be filed with the Director of the Division of Local Government Services, in the New Jersey Department of Community Affairs. SECTION 4. This ordinance shall take effect twenty (20) days after final adoption and approval by the Mayor.