FH Minutes - 2012-02-08

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BOARD OF CHOSEN FREEHOLDERS – FEBRUARY 8, 2012

A regular meeting of The Board of Chosen Freeholders of the County of

Morris, State of New Jersey, was held on February 8, 2012, in the Freeholders

Public Meeting Room, Administration and Records Building, Morristown, New

Jersey. The meeting began at 7:30 p.m.

Clerk of the Board Diane M. Ketchum announced that adequate notice of

this regular meeting held this 8th day of February, 2012 has been providedthrough resolution adopted by this Board at its Regular Meeting held at the

Administration and Records Building on January 6, 2012, to the Star Ledger,

the Daily Record, and the Record through a posting on the County website and

by filing a copy of same with the Morris County Clerk and this Clerk of the

Board.

ROLL CALL

PRESENT: Freeholders Douglas Cabana, Gene Feyl, Ann Grossi,

Thomas Mastrangelo, John Murphy, and Director William

Chegwidden (6)

ALSO PRESENT: County Counsel Dan O’Mullan, Assistant County Counsel Randy Bush,

Administrator John Bonanni, Assistant County Administrator

Mary Jo Buchanan and Clerk of the Board Diane M. Ketchum

PRAYER AND FLAG SALUTE

County Counsel Dan O’Mullan opened the meeting with a prayer and a

salute to the flag.

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PRESENTATION

Certificates of Appreciation

Presented to the following Girl Scouts for their Participation in the

2011 Back to School Supplies DriveSponsored by the Morris County Women’s Advisory Committee

Cara Minor, Cadette Girl Scout Troop 80415 Morristown

Juliet Minor, Cadette Girl Scout Troop 80415 Morristown

Gillian Goldberg, Cadette Girl Scout Troop 80415 Morristown

Jaclyn Ahrens, Junior Girl Scout Troop 1982 Chatham

Ella DuRie, Junior Girl Scout Troop 1982 Chatham

Zoe Iorizzo, Junior Girl Scout Troop 1982 Chatham

Calli Snyder, Junior Girl Scout Troop 1982 Chatham

Meghan Ward, Cadette Girl Scout Troop 1151 Parsippany

Laura Wald, Junior Girl Scout Troop 1949 Parsippany

Melyssa Pickett, Senior Girl Scout Troop 718, Rockaway

Kelley Buhler, Senior Girl Scout Troop 1806, Denville

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PRESENTATIONSResolution of Recognition

Celebrating the 100th Anniversary of the Girl Scouts of Northern New Jersey

--

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entities.

2. The Mendham Township Library is requesting permission to hang a banner

across on Route 24/510 in Mendham Township from April 13-30 to

advertise Shredder Day on April 28.

On motion by Freeholder Murphy and seconded by Freeholder Cabana thebanner requests were approved.

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ORDINANCESPUBLIC HEARING/INTRODUCTION

Director Chegwidden stated: “We will now consider for final

adoption the ordinance entitled ‘GUARANTY ORDINANCE SECURING THE MORRIS

COUNTY IMPROVEMENT AUTHORITY’S COUNTY OF MORRIS GUARANTEED SCHOOL DISTRICT

REVENUE REFUNDING BONDS, SERIES 2012 (MORRIS HILLS REGIONAL DISTRICT

PROJECT) IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $34,500,000.”

Clerk Ketchum read the following ordinance:

WHEREAS, The Morris County Improvement Authority (including anysuccessors and assigns the “Authority”) has been duly created by

resolution no. 42 entitled “Resolution of the Board of Chosen Freeholders

of Morris County, New Jersey creating the Morris County Improvement

Authority” duly adopted by the Board of Chosen Freeholders (the “Board of

Freeholders”) of the County of Morris (the “County”) in the State of New

Jersey (the” State”) on April 10, 2002 as a public body corporate and

politic of the State pursuant to and in accordance with the County

improvement authorities law, constituting Chapter 183 of the Pamphlet Laws

of 1960 of the State, and the acts amendatory thereof and supplemental

thereto (the “Act”) and other applicable law;

WHEREAS, the Authority is authorized by law to finance public

facilities through the acquisition of debt including without limitation

the general obligation school district bond of the Morris Hills Regional

District (the “Morris Hills Board” or the ‘Local Unit”);

WHEREAS, on March 31, 2004, the Authority issued its $43,092,000

original aggregate principal amount of County of Morris Guaranteed School

District Revenue Bonds, Series 2004 (Morris Hills Regional School District

Project)” (the “Series 2004 Bonds”) for the purpose, among other things,

of the purchase of a general obligation school district bond of the Morris

Hills Board in the original aggregate principal amount of $43,092,000 (the

“Series 2004 Morris Hills Board Bond”);

WHEREAS, the Series 2004 Morris Hills Board Bond was issued pursuant

to a proposal approved by the Morris Hills Board on February 3, 2003 and

by the legal voters of such school district on March 11, 2003 (the “Morris

Hills Board proposal”) and a resolution of the Morris Hills Board

authorizing the issuance by the Morris Hills Board and sale to the

Authority of the Series 2006 Morris Hills Board Bond (the “Series 2004

Morris Hills Board Bond Resolution”);

WHEREAS, the Authority financed the acquisition, construction,

renovation and installation of certain property and infrastructure

improvements that were the subject of the Morris Hills Board Proposal (the

“2004 Morris Hills Board Project”) as more fully set forth on Exhibit A to

an agreement dated March 1, 2003 (the “Series 2004 Loan Agreement”) withthe Morris Hills Board evidencing the purchase by the Authority of the

Series 2004 Morris Hills Board Bond (the “2004 Loan”);

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as amended and supplemented by a Certificate of the Chairman of the

Authority dated March 31, 2004 issued pursuant to section 2.02(1)(e) of

the original bond resolution (collectivley, the “Series 2004 Bond

Resolution), (ii) the Act, and other applicable law;

WHEREAS, payment of the principal of (including mandatory sinking

fund installments, if any) and interest on the Series 2004 bonds wasfully, unconditionally and irrevocably guaranteed in an aggregate

principal amount not to exceed $45,000,000 in accordance with (i) the

terms of a guaranty ordinance of the County finally adopted by the Board

of Chosen Freeholders on February 11, 2004 and (ii) by a guaranty

certificate executed by an authorized officer of the County on the face of

each Series 2004 Bond (collectively, the “Series 2004 County Guaranty”),

all pursuant to section 37 (“Section 37”) of the Act (N.J.S.A. 40:37A-80)

and other applicable law, which payments are included as part of the Trust

Estate applicable to the Series 2004 Bonds pledged by the Authority to the

Trustee under the Series 2004 Bond Resolution;

WHEREAS, the Series 2004 Bonds are presently Outstanding (as such

term is defined in the Series 2004 Bond Resolution) in the aggregate

principal amount of $34,747,000, a portion of which is subject to

redemption on or after October 1, 2014, at the option of the Morris Hills

Board, upon notice to the Authority, at a redemption price equal to 100%

of the principal amount to be redeemed (the “Callable Series 2004 Bonds”);

WHEREAS, THE Morris Hills Board has notified the Authority or its

intention to advance refund all or a portion of the Callable Series 2004

Bonds (the “Series 2004 Bonds to be Refunded”),

WHEREAS, the Authority and the Morris Hills Board have determined

that there are debt service savings to be achieved through the advance

refunding of all or a portion of the Series 2004 Bonds to be Refunded (the

“Advance Refunding Project”);

WHEREAS, in order to implement the Advance Refunding Project, and to

pay the costs of issuance and fund any necessary reserves or other costs

related thereto (collectively the “Series 2012 Project”) the Authority

shall adopt a bond resolution entitled “SUPPLEMENTAL RESOLUTION

AUTHORIZING THE ISSUANCE OF COUNTY OF MORRIS GUARANTEED SCHOOL DISTRICT

REVENUE REFUNDING BONDS, SERIES 2012 (MORRIS HILLS REGIONAL DISTRICT

PROJECT) OF THE MORRIS COUNTY IMPROVEMENT AUTHORITY” (the “Series 2012

Supplemental Bond Resolution” and together with the Series 2004 Bond

Resolution, and any other further amendments thereof or supplements

thereto, the “Bond Resolution”);

WHEREAS, the Series 2012 Supplemental Bond Resolution shall

authorize the issuance of “County of Morris Guaranteed School District

Revenue Refunding Bonds, Series 2012 (Morris Hills Regional District

Project)” in the aggregate principal amount not to exceed $34,500,000 (the

“Series 2012 Refunding Bonds”);

WHEREAS, the Advanced Refunding Project shall be achieved through

the deposit of a portion of the proceeds of the Series 2012 Refunding

Bonds with the trustee authorized under the bond Resolution (the

“Trustee”) as escrow, agent (the “Escrow Agent”) pursuant to an “Escrow

Deposit Agreement” to be dated as of the first day of the month of

issuance of the Series 2012 Refunding Bonds (the ‘Escrow Deposit

Agreement”) between the Authority and the Escrow Agent;

WHEREAS, upon issuance of the Series 2012 Refunding Bonds, and the

deposits with the Escrow Agent of a portion of the proceeds thereof inaccordance with the terms of the Escrow Deposit Agreement, the Series 2004

Bonds to be Refunded shall no longer be Outstanding under the Bond

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in an aggregate principal amount not to exceed $34,500,000 (the “Series

2012 Morris Hills Board Refunding Bond”), which Series 2012 Morris Hills

Board Refunding Bond shall be payable by the Morris Hills Board, if

necessary, From the levy of ad valorem taxes upon all the taxable property

within the jurisdiction of the Morris Hills Board, without limitation as

to rate or amount;

WHEREAS, the Series 2012 Morris Hills Board Refunding Bond shall be

authorized pursuant to:

(1) A resolution authorizing the Authority to include all of the

Morris Hills Board’s requirements with respect to the Advance

Refunding Project in the Authority’s Local Finance Board

Application (as hereinafter defined), and accordingly submit

the Local finance Board Application on behalf of the Morris

Board (the “Morris Hills Board Local Finance Board

Resolution”);

(ii) A refunding board ordinance adopted by the Morris Hills Board

(the“ Morris Hills Board Refunding bond Ordinance”);

(iii) A resolution authorizing the sale of the Series 2012 Morris

Hills Board Refunding Bond to the Authority (the “Morris Hills

Board Private Sale Resolution”; and together with the Morris

Hills Board Local Finance Board Resolution, the Morris Hills

Board Refunding Bond Ordinance, and any other resolutions of

the Morris Hills Board pertaining to the Series 2012 Project

the “Morris Hills Board official Action”), which Morris Hills

Board Private Sale Resolution may also provide for (x) a non-

conforming maturity schedule (e.g. level debt service) for the

Series 2012 Morris Hills Board refunding bond, and/or (y)

redemption premium, both of which would require Local Finance

Board (as hereinafter defined0 consent, and (z) authorization

for the Morris Hills Board to execute and deliver LoanAgreement Amendment No. 1 and the other Financing Documents)

(as such terms are hereinafter defined) applicable to the

Morris Hills Board;

WHEREAS, the Series 2004 Loan Agreement shall be amended to

implement the Series 2012 Project by revising the terms of the Series 2004

Loan (as amended, the “Loan”), including the Authority’s purchase of the

Series 2012 Morris Hills Board Refunding Bond and the revised debt service

schedule for the Loan and the Series 2012 Morris Hills Board Refunding

Bond to be set forth on a revised Exhibit B to the Series 2004 Loan

Agreement, all through that certain “Amendment No 1 to Loan Agreement” to

be dated as of the first day of the month of issuance of the Series 2012

Refunding Bonds (the “Amendment No. 1 to Loan Agreement”, and together

with the Series 2004 Loan Agreement, and as the same may be further

amended or supplemental in accordance with its terms from time to time,

the ‘Loan Agreement”);

WHEREAS, payment of the principal of (including mandatory sinking

fund installments, if any) and interest on the Series 2012 Refunding Bonds

shall be fully, unconditionally and irrevocably guaranteed in an aggregate

principal amount not to exceed $34,500,000 in accordance with (i) the

terms of a guaranty ordinance of the County to be finally adopted by the

Board of Freeholders, (ii) by a guaranty certificate to be executed by an

authorized officer of the county on the face of each Series 2012 Refunding

Bond and (iii) as nay be required by any rating agency, underwriter,

Series 2012 Refunding Bond purchaser or other entity that will allow the

Authority to sell the Series 2012 Refunding Bonds at he lowest possiblecost to the Morris Hills Board, an agreement setting forth the County’s

obligation to make any such guaranty payments in accordance with and

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promulgated by the Securities and Exchange Commission pursuant to the

Securities and Exchange Act of 1934, as amended, will be required to enter

into those certain “Local Unit continuing Disclosure Agreement (Morris

Hills Regional District Project)” to be dated as of the first day of the

month of issuance of the Series 2012 Refunding Bonds (as the same may be

amended and supplemented from time to time in accordance with their

respective terms, the “Local Unit Contracting Disclosure Agreement”) withthe Authority and the Trustee, as dissemination agent (the “Dissemination

Agent”) in order to satisfy the secondary market disclosure requirements

of Rule 15c2-12;

WHEREAS, pursuant to the terms of the Bond Resolution, the Authority

(i) shall not be considered a “materially obligated person” within the

meaning and for the purposes set forth in Rule 15c2-12 and (ii) shall be

required to provide certain material events notices in accordance with Rule

15c2-12, and accordingly, the Authority (a) may be required to enter into a

separate continuing disclosure agreement, and (b) shall be required to

provide such material events notices under the terms of the Local Unit

Continuing Disclosure Agreement, all in order to satisfy the secondary market

disclosure requirements of Rule 15c2-12 (the “Authority Continuing Disclosure

Agreement” and together with the Local Unit Continuing Disclosure Agreements

and the County Continuing Disclosure Agreement, the “Continuing Disclosure

Agreements”);

WHEREAS, in order to market and sell the Series 2012 Refunding Bonds,

the Authority will have to (i) make an application (the “Local Finance Board

Application”) to, and seek, obtain, and officially recognize the findings

from the Local Finance Board (the “Local Finance Board”) in the Department of

Local Government Services of the State Department of Community Affairs, all

in accordance with N.J.S.A. 40A:5A-6, 7 and 8 of the Local Authorities Fiscal

Control Law, (ii) authorize the distribution of a preliminary official

statement “deemed final” within the meaning and for the purposes of Rule

15c2-12 describing the terms of the Series 2012 Refunding Bonds, the Series

2012 Project and the other transactions contemplated hereby (the “PreliminaryOfficial Statement”), (iii) enter into a bond purchase agreement with an

underwriter to be selected from the Authority’s qualified underwriter list

procured through a fair and open process (the “Underwriter”) by the Authority

(the “Bond Purchase Agreement”), (iv) execute and deliver a final Official

Statement incorporating the terms of the sale of the Series 2012 Refunding

Bonds and certain other information into the Preliminary Official Statement

(the “Official Statement” and together with the Preliminary Official

Statement, the Bond Purchase Agreement, the “Sale Documents”);

WHEREAS, the Authority shall have no obligation with respect to the

Series 2012 Project other than the financing thereof through the issuance of

the Series 2012 Refunding Bonds; accordingly, the payment of the principal of

and interest on the Outstanding Bonds shall remain the sole responsibility ofthe Morris Hills Board through their payment of the principal of and interest

on the Outstanding Morris Hills Board Bond, as guaranteed by the County under

the County Guaranty; and

WHEREAS, in accordance with Section 13 (“Section 13”) of the Act

(N.J.S.A. 40:37A-56), prior to the issuance of the Series 2012 Refunding

Bonds, the Authority will have made a detailed report of the Series 2012

Project to the Board of Freeholders, which report will include, without

limitation, descriptions of the Series 2012 Supplemental Bond Resolution, the

Series 2012 Morris Hills Board Authorizing Resolutions, the Series 2012

Refunding Bonds, the Series 2012 County Guaranty, the Amendment No. 1 to Loan

Agreement, the Escrow Deposit Agreement, the Continuing Disclosure

Agreements, and if necessary, desirable or convenient as determined by the

Authority, the County, and as applicable, the Local Unit, such other

applicable agreements that may include one or more of the Local Finance Board

Application or any Sale Documents (collectively the “Financing Documents”)

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shall fully, unconditionally and irrevocably guarantee the punctual

payment of the principal, when due, of (including sinking fund

installments, if any) and interest on the Series 2012 Refunding bonds in

an aggregate principal amount not exceeding $34,500,000, which Series 2012

Refunding Bonds are to be issued to finance the Series 2012 Project as

described in he preambles hereof. Notwithstanding the provisions of any

other Financing Document, upon the endorsement of the Series 2012Refunding Bonds referred to in Section 3 below by an authorized officer of

the County, the County shall be unconditionally and irrevocably obligated

to pay, when due, the principal of (including sinking fund installments,

if any) and interest on the Series 2012 Refunding Bonds to the extent the

Trustee, for any reason, has insufficient monies on any such payment dates

to pay the principal of and interest on the Series 2012 Refunding Bonds in

full when due on any such payment dates, in the same manner and to the

same extent as in the case of bonds issued by the County and accordingly,

the County shall be unconditionally and irrevocably obligated to levy ad

valorem taxes upon all the taxable property within the County for the

payment thereof without limitations to rate or amount. This unconditional

and irrevocable guaranty of the County effected hereby to pay the

principal of (including sinking fund installments, if any) and interest on

the Series 2012 Refunding Bonds when due in accordance with the terms

hereof and of the Financing Documents may not be waived, setoff or

otherwise abrogated by action or inaction of the Authority, the County or

for any other reason.

Section 3. The Director of the Board of Chosen Freeholders (the”

Freeholder Director”) shall, by manual or facsimile signature, and is

hereby directed to execute an endorsement on each of the Series 2012

Refunding Bonds evidencing this guaranty by the County as to the punctual

payment of the principal of (including sinking fund installments, if any);

when due, and interest thereon. The endorsement on each Series 2012 Bond

shall be in substantially the following form, and absent the fully

executed endorsement in such following form on any such Series 2012 Bond,

such Series 2012 Bond shall not be entitled to the benefits of thisguaranty ordinance:

“GUARANTY OF THE COUNTY OF MORRIS, NEW JERSEY

The payment of the principal of (including sinking fund

installments, if any) and interest on the within Series 2012 Bond shall be

fully, irrevocably and unconditionally guaranteed by the County of Morris,

New Jersey (the “County”) in accordance with the provisions of N.J.S.A.

40:37A-80 and the guaranty ordinance of the County finally adopted

pursuant thereto and any guaranty agreement executed by the County in

connection therewith, and the County is fully, irrevocably and

unconditionally liable for the payment, when due, of the principal of

(including sinking fund installments, if any) and interest on this Series

2012 Bond, and if necessary the County shall levy ad valorem taxes upon

all the taxable property within the County without limitation as to rate

or amount in order to make such payments.

IN WITNESS WHEREOF, the County has caused this County Guaranty to be

executed by the manual or facsimile signature of its Freeholder Director.

COUNTY OF MORRIS, NEW JERSEY

By: ___________________

Freeholder Director”

The Freeholder Director is hereby further authorized to execute or

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statutory debt or other limitations, including particularly

any limitation or requirement under or pursuant to the Local

Bond Law, but the aggregate principal amount of the Series

2012 Refunding Bonds which shall be entitled to the benefits

of this guaranty ordinance, being an amount not to exceed

$34,500,000, shall, after their issuance, be included in the

gross debt of the County for the purpose of determining theindebtedness of the county under or pursuant to the Local Bond

Law.

(b) The principal amount of Series 2012 Refunding Bonds entitled

to the benefits of this guaranty ordinance and included in the

gross debt of the county shall be deducted and is hereby

declared to be and to constitute a deduction from such gross

debt under and for all the purpose of the Local Bond Law (i)

from and after the time of issuance of the Series 2012

Refunding Bonds until the end of the fiscal year beginning,

next after the completion of acquisition, construction,

installation or renovation of Series 2012 Project, and (ii) in

as of the end of said fiscal year or any subsequent fiscal

any annual debt statement filed pursuant to the Local Bond Law

year if the revenues or other receipts or moneys of the

Authority in such year(including amounts payable pursuant to

the Morris Hills Board Bonds) are sufficient to pay its

expenses of operation and maintenance in such year and all

amounts payable in such year on account of the County issued

as provided in Section 36 of the Act (N.J.S.A. 40:37A-79) and

all bonds of the Authority issued under the Act.

Section 5. The following maters are hereby determined, declared,

recited and stated:

(a) The maximum principal amount of Series 2012 Refunding Bonds

(including one or more series or bonds and one or more seriesor bond anticipation notes issued in anticipation thereof) of

the Authority which are hereby and hereunder fully,

unconditionally and irrevocably guaranteed as to the punctual

payment of the principal thereof (including sinking fund

installments, if any) and interest thereon Is $34,500,000; the

maximum principal amount of Series 2012 Refunding Bonds

(including one or more series of bonds and one or more series

of bond anticipation notes issued in anticipation thereof) of

the Authority that may be outstanding at any one time is

434,500,000; and the maximum estimated cost of Series 2012

Project to be financed in accordance with the transactions

contemplated hereby is $34,500,000;

(b) The purpose described in the guaranty ordinance is not a current

expense of the County and no part of the cost thereof has been

or shall be assessed on property specially benefited thereby.

(c) A supplemental debt statement of the County has been duly made

and filed in the office of the Clerk of the Board, and a complete

executed duplicate thereof has been filed in the office of the

Director of the Division of Local Government Services in the

Department of community Affairs of the State, and such debt

statement shows that while the gross debt of the county as

defined in the Local Bond Law, is increased by this guaranty

ordinance by $34,500,000 in accordance with the provisions of

the Act, the net debt of the County is not increased, and the

obligation of eh County authorized by or incurred pursuant to theterms of this guaranty ordinance is permitted by an exception to

the debt limitations of the Local Bond Law which exception is

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Section 7. To the extent the Series 2012 Refunding Bonds (or any

portion thereof) are not issued in 2012 references herein to “2012” may

without any further action be changed to the year of issuance of such series

2012 refunding Bonds and all dates related to such year of issuance shall be

automatically adjusted.

Section 8. if any part (s) of this ordinance shall be deemed invalid,such part (s) shall be severed and the invalidity thereby shall not effect

the remaining parts of this ordinance.

Section 9. This guaranty ordinance shall take effect at the time and in

the manner provided by law.

Section 10. A public hearing shall be held on the guaranty ordinance on

February 8, 2012 at 7:30 p.m. in the freeholder Meeting Room, 5th Floor,

Administration and Records Building, Morristown, New Jersey.

Section 11. The Clerk of the Board of Freeholders is hereby directed to

publish and post notice of this guaranty ordinance as required by applicable

law, including the Act and Local Bond Law.

Section 12. Upon the adoption hereof, the Clerk of the Board of

Freeholders shall forward certified copies of this resolution to John

Bonanni, County Administrator and Chairman of the Authority, Daniel W.

O’Mullan, Esq., County Counsel and Stephen B. Pearlman, Esq., Counsel to the

Authority.

Director Chegwidden stated: “The Public Hearing is now open.”

There were no public comments, and the Director declared the Public

Hearing closed.

Freeholder Murphy moved that the ordinance under consideration be

adopted on the second and final reading. Freeholder Grossi seconded themotion.

The Clerk called and recorded the following vote:

YES: Freeholders Cabana, Feyl, Grossi, Mastrangelo, Murphy,

and Director Chegwidden (6)

Freeholder Murphy moved that the Clerk be authorized to publish the

Ordinance in summary form and notification of its passage in the local

newspaper in accordance with the law. Freeholder Grossi seconded the

motion, which passed with six YES votes.

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(2)

Director Chegwidden stated: “We will now consider for final

adoption the ordinance entitled ‘ORDINANCE OF THE COUNTY OF MORRIS NEW

JERSEY AUTHORIZING THE EXECUTION OR ACKNOWLEDGEMENT AND DELIVERRY OF

CERTAIN AGREEMENTS IN CONNECTION WITH THE MORRIS COUNTY IMPROVEMENT

AUTHORITY’S 2012 COUNTY GUARANTEED LEASING PROGRAM.”

Clerk Ketchum read the following ordinance:

WHEREAS, The Morris County Improvement Authority (including any

successors and assigns, the "Authority") has been duly created by resolution

no. 42 entitled "Resolution of the Board of Chosen Freeholders of Morris

County, New Jersey creating the Morris County Improvement Authority" dulyadopted by the Board of Chosen Freeholders (the "Board of Freeholders") of

the County of Morris (the "County") in the State of New Jersey (the "State")

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District Local Units") and (iv) other local governmental units that provide

service to one or more Municipal Local Units, including County, municipal or

regional authorities (the "Other Local Units" and together with the County,

the Municipal Local Units and the School District Local Units, the "Local

Units");

WHEREAS, the Authority created a county guaranteed leasing program (the“County Guaranteed Leasing Program”, the “Program” or “CGLP”) whereby a Local

Unit can submit a request (the "Application") to the Authority to borrow

funds from or on behalf of the Authority under the Authority's CGLP to

finance or refinance the lease purchase of certain capital equipment and, if

applicable, other personal property (the "Equipment;" the financing of the

Equipment under the CGLP may be referred to herein as the "Project"),

pursuant to which Program the Authority can provide a low cost, efficient

means for financing Projects of the Local Unit;

WHEREAS, pursuant to the Act, specifically Section 34 thereof (N.J.S.A.

40:37A-77), a private lessor, including without limitation a leasing finance

company procured through a competitive process (the “Finance Company”), may

sell, lease, lend, grant or convey to the Authority or permit the Authorityor its Local Unit lessees to use, maintain or operate any real or personal

property, including without limitation the Equipment;

WHEREAS, pursuant to the Act, including without limitation Section 35

thereof (N.J.S.A. 40:37A-78), the Authority is authorized, without public

bidding, to enter into and perform any lease, sublease or other agreement

with, among others, a Local Unit, for the lease to or use by the Local Unit

of all or any part of any public facility or facilities as determined in

Section 11 of the Act (N.J.S.A. 40:37A-54(l)), including without limitation

the Equipment;

WHEREAS, the Authority created the CGLP to provide low cost, timely and

turnkey lease purchase financing to Local Units desiring to lease finance or

refinance their Equipment needs;

WHEREAS, under the CGLP, from time to time, as Local Units express the

desire to enter into the Program and take the required authorization actions

(the “Local Unit Official Action”) therefore, the Lessor provides funds, at

tax-exempt rates to the Local Units against purchase orders or other evidence

of such Local Units’ Equipment needs within the hereinafter defined Overall

Maximum Program Amount, whereupon the Equipment will be owned by the Finance

Company, leased to the Authority under the Master Lease (defined below), and

subleased by the Authority, as lessor, to the Local Unit, as lessee, which

Local Unit will have the right to quiet use of and be obligated to maintain,

the Equipment, all under a sublease purchase agreement (the “Sublease”) to be

entered into by the Authority and each such Local Unit in accordance with all

applicable law, including without limitation Section 35 of the Act (N.J.S.A.40:37A-78);

WHEREAS, upon expiration of the Sublease, the Equipment will be sold by

the Finance Company through the Authority to the Local Unit for nominal

consideration, which Local Unit will thereafter possess clear title to the

Equipment;

WHEREAS, under the Master Lease and the Sublease, (i) the County and

the Municipal Local Units make general obligation Sublease payments directly

to the Finance Company, as assignee under the Master Lease of such payments

otherwise due the Authority under the Sublease, and (ii) the School District

Local Units and the Other Local Units make contractually obligated, subject

to appropriation, Sublease payments directly to the Finance Company, as

assignee under the Master Lease of such payments otherwise due the Authority

under the Sublease;

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Program Amount, which Original Bond was issued directly to the Finance

Company as sole Bondholder, and which Bond will be payable to the Finance

Company only upon a deficiency in Sublease payments due and owing by the

respective Local Units, in which case the County will have fully,

unconditionally and irrevocably guaranteed the payment of the principal of

the Original Bond up to the Original Maximum Program Amount, plus interest

thereon, through (i) the final adoption of a guaranty ordinance by the Boardof Freeholders, (ii) the execution by an authorized officer of the County of

a guaranty certificate on the face of each bond and (iii) as may be required

by any rating agency, Finance Company or other entity giving approval to the

CGLP, an agreement setting forth the County’s obligation to make any such

guaranty payments in accordance with and within the parameters set forth in

the guaranty ordinance, all in accordance with all applicable law, including

Section 37 of the Act (N.J.S.A. 40:37A-80), (collectively, the “Original

County Guaranty”);

WHEREAS, the Original Bond was authorized by the Act, all other

applicable law, and a bond resolution (the “Original Bond Resolution”) of the

Authority adopted pursuant to N.J.S.A. 40:37A-60 and -62 of the Act;

WHEREAS, on June 14, 2006 the Authority obtained the approval of the

Local Finance Board for (i) the extension of the Program until July 31, 2007

and (ii) an additional $10,000,000 authorization thereby increasing the

Original Maximum Program Amount (until further increased or renewed by the

Authority, the County and the Local Finance Board, the “2006 Increased

Program Amount”) in an amount not to exceed $20,000,000;

WHEREAS, the Authority, entered into an amendment No. 1 to Master Lease

(the “Amendment No. 1 to Master Lease”) with the Finance Company for the

lease of Equipment to be determined in accordance with each Sublease entered

into with Local Units under the Program, in the 2006 Increased Program Amount

in an amount not to exceed $20,000,000;

WHEREAS, the Authority issued to the Finance Company a performance bond(the “2006 Amended Bond”) in a principal amount up to the 2006 Increased

Program Amount, which 2006 Amended Bond was issued directly to the Finance

Company as sole Bondholder, and which 2006 Amended Bond was payable to the

Finance Company only upon a deficiency in Sublease payments due and owing by

the respective Local Units, in which case the County will have fully,

unconditionally and irrevocably guaranteed the payment of the principal of

the Revised Bond up to the 2006 Increased Program Amount, plus interest

thereon, through (i) the final adoption of an amendment to the original

guaranty ordinance by the Board of Freeholders, and (ii) the execution by an

authorized officer of the County of a guaranty certificate on the face of the

Amended Bond, all in accordance with all applicable law, including Section 37

of the Act (N.J.S.A. 40:37A-80), (collectively, the “2006 Amended County

Guaranty”);

WHEREAS, the 2006 Amended Bond was authorized by the Act, all other

applicable law, and a supplemental bond resolution amended and supplementing

the terms of the Original Bond Resolution (the “2006 Supplemental Bond

Resolution”) of the Authority adopted pursuant to N.J.S.A. 40:37A-60 and -62

of the Act;

WHEREAS, on June 13, 2007 the Authority obtained the approval of the

Local Finance Board for (i) the extension of the Program until July 31, 2008

and (ii) an additional $10,000,000 authorization thereby increasing the

Original Maximum Program Amount (until further increased or renewed by the

Authority, the County and the Local Finance Board, the “Overall Maximum

Program Amount”) in an amount not to exceed $30,000,000;

WHEREAS, the Authority, entered into an amendment No. 2 to Master Lease

(the “Amendment No 2 to Master Lease”) with the Finance Company for the

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thereon, through (i) the final adoption of an amendment to the original

guaranty ordinance by the Board of Freeholders and (ii) the execution by an

authorized officer of the County of a guaranty certificate on the face of the

Amended Bond, all in accordance with all applicable law, including Section 37

of the Act (N.J.S.A. 40:37A-80), (collectively, the “2007 Amended County

Guaranty”);

WHEREAS, the 2007 Amended Bond was authorized by the Act, all other

applicable law, and a supplemental bond resolution amended and supplementing

the terms of the Original Bond Resolution (the “2007 Supplemental Bond

Resolution”) of the Authority adopted pursuant to N.J.S.A. 40:37A-60 and -62

of the Act;

WHEREAS, the Program has been successful in lending the proceeds of a

portion of the Overall Maximum Program Amount to Local Units;

WHEREAS, the Authority made an application to the Local Finance Board

for the extension of the Program until July 31, 2009 (the “2008 Program

Extension”);

WHEREAS, the Local Finance Board, at a meeting held on June 9, 2008 did

issue favorable Findings with respect to the 2008 Program Extension;



Extension”);

WHEREAS, the Local Finance Board, at a meeting held on August 12, 2009

did issue favorable Findings with respect to the 2009 Program Extension;



Extension”);

WHEREAS, the Local Finance Board, at a meeting held on June 9, 2010 did




Extension”);

WHEREAS, the Local Finance Board, at a meeting held on May 11, 2011 did


WHEREAS, the County of Morris, New Jersey (the “Participant”), has

submitted a request to finance the Equipment set forth on Exhibit A attached

hereto; and

WHEREAS, in order to participate in the Program, the Participant shall

enter into a Sublease in substantially the form attached hereto as Exhibit B.

NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF THE COUNTY OF

MORRIS, NEW JERSEY (not less than two-thirds of all members thereof

affirmatively concurring), AS FOLLOWS:

Section 1. The Participant’s Project and the financing of the

Participant’s Project through the Financing Documents are hereby approved.

Section 2. The Freeholder Director, the County Administrator, the

Clerk and the Treasurer/Chief Financial Officer of the Participant

(collectively, the “Authorized Officer”) are hereby each severally authorizedand directed, upon the satisfaction of all the legal conditions precedent to

the execution or acknowledgment and delivery by the Participant of the

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Sublease that will result from the negotiation with the Authority as approved

by the Consultants, so long as such final financing terms are within the

parameters of those listed in the Application and the Findings.

Section 3. Each of the Clerk and the Chief Financial Officer of the

Participant is hereby authorized and directed, upon the execution or

acknowledgment of the documents set forth in Section 2 hereof in accordancewith the terms of Section 2 hereof, to attest to the Authorized Officer's

execution or acknowledgment of such documents, and each is hereby further

authorized and directed, when required by the Authority, to thereupon affix

the seal of the Participant to such documents.

Section 4. Upon the execution or acknowledgment and attestation of

and, if required, the placing of the seal on the documents set forth in

Section 2 hereof as contemplated by Sections 2 and 3 hereof, the Authorized

Officer is hereby authorized and directed to (i) deliver such fully executed

or acknowledged, attested and sealed Financing Documents to the other parties

thereto and (ii) perform such other actions as the Authorized Officer deems

necessary, desirable or convenient in relation to the execution and delivery

thereof or in order to effect the transaction contemplated thereby.

Section 5. The governing body of the Participant hereby (i) ratifies

all actions taken by any Authorized Officer of the Participant, (ii)

authorizes the performance of any act and the execution or acknowledgment and

delivery of any other document, instrument or closing certificates that the

Authorized Officer, after consultation with the Consultants, deems necessary,

desirable or convenient in connection with this contemplated transaction, and

(iii) hereby directs the Authorized Officer to execute or acknowledge, attest

and affix the seal to any such documents, instruments or closing

certificates, the authorization of which actions shall be conclusively

evidenced by the execution or acknowledgment, attestation, affixation and

delivery, as the case may be, thereof by such persons.

Section 6. This ordinance shall constitute an appropriation for thepurposes of N.J.S.A. 40A:4-57 and all other applicable law.

Section 7. This ordinance shall take effect at the time and in the

manner prescribed by law.

Section 8. Upon the adoption hereof, the Clerk of the Participant

shall forward certified copies of this ordinance to the Authorized Officer,

John Bonanni, Chairman of the Authority, and Stephen B. Pearlman, Esq.,

Inglesino, Pearlman, Wyciskala & Taylor, LLC, bond counsel to the Authority.

Director Chegwidden stated: “The Public Hearing is now open.”

There were no public comments, and the Director declared the Public

Hearing closed.

Freeholder Murphy moved that the ordinance under consideration be

adopted on the second and final reading. Freeholder Grossi seconded the

motion.

The Clerk called and recorded the following vote:

YES: Freeholders Cabana, Feyl, Grossi, Mastrangelo, Murphy,

and Director Chegwidden (6)

Freeholder Murphy moved that the Clerk be authorized to publish the

Ordinance in summary form and notification of its passage in the local

newspaper in accordance with the law. Freeholder Grossi seconded themotion, which passed with six YES votes.

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concerns about the formation of a commission. Freeholder Grossi encouraged

Mr. Moken to attend the February 27th meeting at the Frelinghuysen Arboretum

which will address the public’s questions and concerns.

--

RESOLUTIONS

Freeholder Murphy presented the following resolutions:

(1)

WHEREAS, a contract was awarded on July 14, 2010 for intersection

improvements to East Main Street and Franklin Avenue, Rockaway Borough; and

WHEREAS, it has been determined that it is necessary to increase said

contract to conform to “as-built” quantities and cover non-reimbursable

Police Traffic Directors;

NOW, THEREFORE, BE IT RESOLVED by the Board of Chosen Freeholders of

the County of Morris in the State of New Jersey that pursuant to Local Public

Contracts Regulations, contract modification as detailed on “Contract Change

Order Request” No. 1-19955 is hereby approved as follows:

1. Vendor: Tilcon New York, Inc.

625 Mount Hope Road

Wharton, NJ 07885

2. Item: Conform to “as built” quantities

3. Increase in Cost: $26,775.87

4. New Contract Total: $510,109.20

5. The necessary amended Certificate of Availability of Funds has been

provided by the Treasurer and said amended Certificate indicates theavailability of funds is as listed in Account #02-213-41-864075-391

($6,315.33) and account #04-216-55-953165-951 ($20,480.00) and said

accounts shall be charged.

6. The Director of the Board of Chosen Freeholders is hereby authorized to

execute said contract modification.

7. This resolution shall take effect immediately.

--

(2)

WHEREAS, a contract was awarded on July 27, 2011 Milling and

Resurfacing of Berkshire Valley Road in Jefferson; and

WHEREAS, it has been determined that it is necessary to decrease said

contract to conform to as-built quantities;





1. Vendor: Tilcon New York, Inc.

625 Mount Hope Road

Wharton, NJ 07885

2. Item: To Conform to As Built Quantities

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--

(3)

WHEREAS, at the January 25, 2012 meeting of the Board of Chosen

Freeholders of the County of Morris (“the Board”) adopted Resolution #44entitled “SUPPLEMENTAL RESOLUTION AUTHORIZING THE ISSUANCE OF COUNTY OF

MORRIS GUARANTEED SCHOOL DISTRICT REVENUE REFUNDING BONDS, SERIES 2012

(MORRIS HILLS REGIONAL DISTRICT PROJECT) OF THE MORRIS COUNTY IMPROVEMENT

AUTHORITY”;

WHEREAS, the Board is desirous of rescinding the adoption of Resolution

#44;

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF CHOSEN FREEHOLDERS OF

THE COUNTY OF MORRIS, NEW JERSEY as follows:

1. The Board rescinds Resolution #44 adopted at the January 25, 2012

Board meeting.


--

(4)

RESOLUTION PROVIDING MORRIS COUNTY'S CONSENT TO THE ISSUANCE BY THE

MORRIS COUNTY IMPROVEMENT AUTHORITY OF THE AUTHORITY’S COUNTY OF MORRIS

GUARANTEED SCHOOL DISTRICT REVENUE REFUNDING BONDS,

SERIES 2012 (MORRIS HILLS REGIONAL DISTRICT

PROJECT) AND RELATED DOCUMENTS

WHEREAS, The Morris County Improvement Authority (including anysuccessors and assigns, the “Authority”) has been duly created by resolution

no. 42 entitled “Resolution of the Board of Chosen Freeholders of Morris

County, New Jersey creating the Morris County Improvement Authority” duly

adopted by the Board of Chosen Freeholders (the “Board of Freeholders”) of

the County of Morris (the “County”) in the State of New Jersey (the “State”)

on April 10, 2002 as a public body corporate and politic of the State

pursuant to and in accordance with the county improvement authorities law,

constituting Chapter 183 of the Pamphlet Laws of 1960 of the State, and the

acts amendatory thereof and supplemental thereto (the “Act”) and other

applicable law;

WHEREAS, the Authority is authorized by law to finance public

facilities through the acquisition of debt including without limitation thegeneral obligation school district bond of the Morris Hills Regional District

(the “Morris Hills Board” or the “Local Unit”);

WHEREAS, on March 31, 2004, the Authority issued its $43,092,000

original aggregate principal amount of “County of Morris Guaranteed School

District Revenue Bonds, Series 2004 (Morris Hills Regional District Project)”

(the “Series 2004 Bonds”) for the purpose, among other things, of the

purchase of a general obligation school district bond of the Morris Hills

Board in the original aggregate principal amount of $43,092,000 (the “Series

2004 Morris Hills Board Bond”);

WHEREAS, the Series 2004 Morris Hills Board Bond was issued pursuant to

a proposal approved by the Morris Hills Board on February 3, 2003 and by the

legal voters of such school district on March 11, 2003 (the “Morris Hills

Board Proposal”) and a resolution of the Morris Hills Board authorizing the

issuance by the Morris Hills Board and sale to the Authority of the Series

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WHEREAS, the 2004 Loan was secured through the Morris Hills Board Bond

and the Original Loan Agreement which 2004 Loan was to be repaid by the

Morris Hills Board in accordance with a debt service schedule set forth in

Exhibit A to the Morris Hills Board Bond and Exhibit B to the Series 2004

Loan Agreement;

WHEREAS, the Series 2004 Bonds were issued pursuant to (i) a bondresolution of the Authority entitled “Resolution Authorizing the Issuance of

County of Morris Guaranteed School District Revenue Bonds, Series 2004 (Morris

Hills Regional District Project) and Additional Bonds of the Morris County

Improvement Authority”, which was duly adopted by the Authority at a meeting

thereof duly called and held on February 11, 2004, as amended and supplemented

by a Certificate of the Chairman of the Authority dated March 31, 2004 issued

pursuant to Section 2.02(1)(e) of the original bond resolution (collectively,

the “Series 2004 Bond Resolution), (ii) the Act, and other applicable law;

WHEREAS, payment of the principal of (including mandatory sinking fund

installments, if any) and interest on the Series 2004 Bonds was fully,

unconditionally and irrevocably guaranteed in an aggregate principal amount

not to exceed $45,000,000 in accordance with (i) the terms of a guaranty

ordinance of the County finally adopted by the Board of Freeholders on

February 11, 2004 and (ii) by a guaranty certificate executed by an

authorized officer of the County on the face of each Series 2004 Bond

(collectively, the “Series 2004 County Guaranty”), all pursuant to Section 37

(“Section 37”) of the Act (N.J.S.A. 40:37A-80) and other applicable law,

which payments are included as part of the Trust Estate applicable to the

Series 2004 Bonds pledged by the Authority to the Trustee under the Series

2004 Bond Resolution;

WHEREAS, the Series 2004 Bonds are presently Outstanding (as such term

is defined in the Series 2004 Bond Resolution) in the aggregate principal

amount of $34,747,000, a portion of which is subject to redemption on or

after October 1, 2014, at the option of the Morris Hills Board, upon notice

to the Authority, at a redemption price equal to 100% of the principal amountto be redeemed (the “Callable Series 2004 Bonds”);

WHREAS, the Morris Hills Board has notified the Authority of its

intention to advance refund all or a portion of the Callable Series 2004 Bonds

(the “Series 2004 Bonds to be Refunded”);

WHEREAS, the Authority and the Morris Hills Board have determined that

there are debt service savings to be achieved through the advance refunding

of all or a portion of the Series 2004 Bonds to be Refunded (the “Advance

Refunding Project”);

WHEREAS, in order to implement the Advance Refunding Project, and to

pay the costs of issuance and fund any necessary reserves or other costsrelated thereto (collectively the “Series 2012 Project”), the Authority shall

adopt a bond resolution entitled "SUPPLEMENTAL RESOLUTION AUTHORIZING THE

ISSUANCE OF COUNTY OF MORRIS GUARANTEED SCHOOL DISTRICT REVENUE REFUNDING

BONDS, SERIES 2012 (MORRIS HILLS REGIONAL DISTRICT PROJECT) OF THE MORRIS

COUNTY IMPROVEMENT AUTHORITY" (the “Series 2012 Supplemental Bond Resolution

” and together with the Series 2004 Bond Resolution, and any further

amendments thereof or supplements thereto, the “Bond Resolution”);

WHEREAS, the Series 2012 Supplemental Bond Resolution shall authorize

the issuance of “County of Morris Guaranteed School District Revenue

Refunding Bonds, Series 2012 (Morris Hills Regional District Project)” in the

aggregate principal amount not to exceed $34,500,000 (the “Series 2012

Refunding Bonds”);

WHEREAS, the Advance Refunding Project shall be achieved through the

deposit of a portion of the proceeds of the Series 2012 Refunding Bonds with

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Refunding Project (the “Outstanding Series 2004 Bonds”) and the Series 2012

Refunding Bonds shall be Outstanding under the Bond Resolution;

WHEREAS, the Series 2012 Refunding Bonds shall be secured on a parity

basis with the Outstanding Series 2004 Bonds, and any other Bonds issued

under and as defined in the Bond Resolution (collectively, the “Outstanding

Bonds”), by the Series 2012 Trust Estate under and as defined in the BondResolution, including the Series 2012 Supplemental Bond Resolution, which

Series 2012 Trust Estate shall consist, in material part, of the payment of

the principal, redemption premium, if any, and interest on the general

obligation school district bond of the Morris Hills Board in an aggregate

principal amount not to exceed $34,500,000 (the “Series 2012 Morris Hills

Board Refunding Bond”), which Series 2012 Morris Hills Board Refunding Bond

shall be payable by the Morris Hills Board, if necessary, from the levy of ad

valorem taxes upon all the taxable property within the jurisdiction of the

Morris Hills Board, without limitation as to rate or amount;

WHEREAS, the Series 2012 Morris Hills Board Refunding Bond shall be

authorized pursuant to:

(i) A resolution authoring the Authority to include all of the Morris Hill

Board’s requirements with respect to the Advance Refunding Project in the

Authority’s Local Finance Board Application (as hereinafter defined), and

accordingly submit the Local Finance Board Application on behalf of the Morris

Hills Board (the “Morris Hills Board Local Finance Board Resolution”);

(Ii) A refunding bond ordinance adopted by the Morris Hills Board (the “Morris

Hills Board Refunding Bond Ordinance”);

(III) A resolution authorizing the sale of the Series 2012 Morris Hills Board

Refunding Bond to the Authority (the “Morris Hills Board Private Sale

Resolution”, and together with the Morris Hills Board Local Finance Board

Resolution, the Morris Hills Board Refunding Bond Ordinance, and any other

resolutions of the Morris Hills Board pertaining to the Series 2012 Project,the “Morris Hills Board Official Action”), which Morris Hills Board Private

Sale Resolution may also provide for (x) a non-conforming maturity schedule

(e.g., level debt service) for the Series 2012 Morris Hills Board Refunding

Bond, and/or (y) redemption premium, both of which would require Local Finance

Board (as hereinafter defined) consent, and (z) authorization for the Morris

Hills Board to execute and deliver Loan Agreement Amendment No. 1 and the other

Financing Documents (as such terms are hereinafter defined) applicable to the

Morris Hills Board;

WHEREAS, the Series 2004 Loan Agreement shall be amended to implement

the Series 2012 Project by revising the terms of the Series 2004 Loan (as

amended, the “Loan”), including the Authority’s purchase of the Series 2012

Morris Hills Board Refunding Bond and the revised debt service schedule forthe Loan and the Series 2012 Morris Hills Board Refunding Bond to be set

forth on a revised Exhibit B to the Series 2004 Loan Agreement, all through

that certain “Amendment No. 1 to Loan Agreement” to be dated as of the first

day of the month of issuance of the Series 2012 Refunding Bonds (the

“Amendment No. 1 to Loan Agreement”, and together with the Series 2004 Loan

Agreement, and as the same may be further amended or supplemented in

accordance with its terms from time to time, the “Loan Agreement”);

WHEREAS, payment of the principal of (including mandatory sinking fund

installments, if any) and interest on the Series 2012 Refunding Bonds shall

be fully, unconditionally and irrevocably guaranteed in an aggregate

principal amount not to exceed $34,500,000 in accordance with (i) the terms

of a guaranty ordinance of the County to be finally adopted by the Board of

Freeholders, (ii) by a guaranty certificate to be executed by an authorized

officer of the County on the face of each Series 2012 Refunding Bond and

(iii) as may be required by any rating agency, underwriter, Series 2012

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WHEREAS, pursuant to the terms of the Loan Agreement, the Morris Hills

Board constitutes a “materially obligated person” within the meaning and for

the purposes set forth in Rule 15c2-12 (“Rule 15c-12”) promulgated by the

Securities and Exchange Commission pursuant to the Securities and Exchange

Act of 1934, as amended, will be required to enter into those certain “Local

Unit Continuing Disclosure Agreement (Morris Hills Regional District

Project)” to be dated as of the first day of the month of issuance of theSeries 2012 Refunding Bonds (as the same may be amended and supplemented from

time to time in accordance with their respective terms, the “Local Unit

Continuing Disclosure Agreement”) with the Authority and the Trustee, as

dissemination agent (the “Dissemination Agent”) in order to satisfy the

secondary market disclosure requirements of Rule 15c2-12;

WHEREAS, pursuant to the terms of the Bond Resolution due to the County

Guaranty, as a “materially obligated person” within the meaning and for the

purposes set forth in Rule 15c2-12, the County shall be required to enter

into that certain “County Continuing Disclosure Agreement (Pooled Unfunded

ERI Liability Project)” to be dated as of the first day of the month of

issuance of the Series 2012 Refunding Bonds (as the same may be amended and

supplemented from time to time in accordance with its terms, the “CountyContinuing Disclosure Agreement”) with the Authority and the Dissemination

Agent in order to satisfy the secondary market disclosure requirements of

Rule 15c2-12;

WHEREAS, pursuant to the terms of the Bond Resolution, the Authority

(i) shall not be considered a “materially obligated person” within the

meaning and for the purposes set forth in Rule 15c2-12 and (ii) shall be

required to provide certain material events notices in accordance with Rule

15c2-12, and accordingly, the Authority (a) may be required to enter into a

separate continuing disclosure agreement, and (b) shall be required to

provide such material events notices under the terms of the Local Unit

Continuing Disclosure Agreement, all in order to satisfy the secondary market

disclosure requirements of Rule 15c2-12 (the “Authority Continuing Disclosure

Agreement” and together with the Local Unit Continuing Disclosure Agreementsand the County Continuing Disclosure Agreement, the “Continuing Disclosure

Agreements”);

WHEREAS, in order to market and sell the Series 2012 Refunding Bonds,

the Authority will have to (i) make an application (the “Local Finance Board

Application”) to, and seek, obtain, and officially recognize the findings

from the Local Finance Board (the “Local Finance Board”) in the Department of

Local Government Services of the State Department of Community Affairs, all

in accordance with N.J.S.A. 40A:5A-6, 7 and 8 of the Local Authorities Fiscal

Control Law, (ii) authorize the distribution of a preliminary official

statement “deemed final” within the meaning and for the purposes of Rule

15c2-12 describing the terms of the Series 2012 Refunding Bonds, the Series

2012 Project and the other transactions contemplated hereby (the “PreliminaryOfficial Statement”), (iii) enter into a bond purchase agreement with an

underwriter to be selected from the Authority’s qualified underwriter list

procured through a fair and open process (the “Underwriter”) by the Authority

(the “Bond Purchase Agreement”), (iv) execute and deliver a final Official

Statement incorporating the terms of the sale of the Series 2012 Refunding

Bonds and certain other information into the Preliminary Official Statement

(the “Official Statement” and together with the Preliminary Official

Statement, the Bond Purchase Agreement, the “Sale Documents”);

WHEREAS, the Authority shall have no obligation with respect to the

Series 2012 Project other than the financing thereof through the issuance of

the Series 2012 Refunding Bonds; accordingly, the payment of the principal of

and interest on the Outstanding Bonds shall remain the sole responsibility of

the Morris Hills Board through their payment of the principal of and interest

on the Outstanding Morris Hills Board Bond, as guaranteed by the County under

the County Guaranty; and

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applicable agreements that may include one or more of the Local Finance Board

Application or any Sale Documents (collectively, the “Financing Documents”).

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF CHOSEN FREEHOLDERS OF

THE COUNTY OF MORRIS, NEW JERSEY, as follows:

Section 1. In accordance with Section 13 and all other applicable law,the County of Morris Board of Freeholders hereby consent to (i) Series 2012

Project and the financing of same on behalf of the Morris Hills Board through

the Financing Documents, (ii) the execution or acknowledgment and delivery by

the Authority of the Amendment No. 1 to Loan Agreement and the Continuing

Disclosure Agreements in substantially the forms attached hereto as Exhibits

A and B, respectively (iii) the adoption by the Authority of the Series 2012

Supplemental Bond Resolution in substantially the form attached hereto as

Exhibit C, (iv) the issuance, sale and delivery of the Series 2012 Refunding

Bonds to effect such purpose and (v) the adoption and execution and delivery

of the Series 2012 County Guaranty as further security for the Series 2012

Refunding Bonds. The County's consent hereto to the Financing Documents

contemplates the insertion of the final financing terms therein that will

result from the sale of the Series 2012 Refunding Bonds, which financingterms shall be limited only by those financing term parameters set forth in

the Local Finance Board Application of the Authority filed with the Local

Finance Board (and on file with the County Administrator) relating to the

Series 2012 Refunding Bonds and the findings related thereto and the

parameters set forth herein.

Section 2. To the extent the Series 2012 Refunding Bonds are issued in

any year other than 2012 references herein to “2012” may without any further

action be changed to the year of issuance of such Series 2012 Refunding

Bonds.

Section 3. This resolution shall take effect immediately.

Section 4. Upon the adoption hereof, the Clerk of the Board ofFreeholders shall forward certified copies of this resolution to John

Bonanni, County Administrator and Chairman of the Authority, Daniel W.

O’Mullan, Esq., County Counsel, and Stephen B. Pearlman, Esq., counsel to the

Authority.

--

(5)

WHEREAS, there exists the need for eleven (11) Congregate Nutrition

Sites,

NOW, THEREFORE, BE IT RESOLVED, by the Board of Chosen Freeholders of

the County of Morris in the State of New Jersey as follows;

The Director of the Board of chosen freeholders is hereby authorized to

sign and execute the lease agreements with the following parties, copies of

which are on file in the division on Aging, Disabilities and Veterans and

made a part hereof by reference.

The County Treasurer is hereby authorized to issue Certificates of

Availability of Funds charging Nutrition FMS Account#01-201-41-716100-148 as

follows:

Chatham

Church of Christ $2,400.00

ChesterPresbyterian Community Church $ -0-

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Morris County Housing Authority $-0-

Morristown

Housing Authority of Town of Morristown $1,000.00

ParsippanyParsippany Community Center $-0-

Rockaway

Morris County Housing Authority $-0-

Roxbury

Roxbury Community Center $2,400.00

--

(6)

BE IT RESOLVED, by the Board of Chosen Freeholders of the County of

Morris in the State of New Jersey that the Director of the Board of Chosen

Freeholders is hereby authorized to sign and execute a Memorandum of

Understanding between the County of Morris and the Butler Fire Department for

the use and sharing of certain decontamination equipment and supplies, a copy

of which is on file in the Office of the Director of the Department of Law

and Public Safety and made a part hereof by reference.

--

(7)

WHEREAS, there exists a need for the provision of Engineering

Consulting Services for the Morris County’s MUTCD Retro-Reflectivity TrafficSign Inventory and Assessment FY12; and

WHEREAS, the contract was awarded as a “Professional Service” in

accordance with N.J.S.A. 40A:11-5 (1)(a)(i) et seq. through a fair and open

process, pursuant to N.J.S.A. 19:44A-20.4 et seq.;

NOW THEREFORE BE IT RESOLVED by the Board of Chosen Freeholders of the

County of Morris in the State of New Jersey as follows:

1. The agreements between the County of Morris and

Greenman-Pedersen, Inc.

100 Corporate Drive, Suite 301

Lebanon, NJ 08833

Amount: $109,905.18

Term: Shall be completed by June 30, 2012

Account#:02-213-41-864205-391

for the aforesaid services, a copy of which is on file at the Morris

County Purchasing Division and is made a part hereof by reference, is

hereby approved and shall be entered into by this Board.


execute said agreement conditioned upon the contractor’s compliance

with the requirements set forth in paragraph 5 below.

3. The Treasurer is hereby authorized to issue a Certificate ofAvailability of Funds in accordance with the aforesaid agreement.

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1. Vendor: Tilcon New York, Inc.625 Mount Hope Road

Wharton, NJ 07885

2. Item: Conform to “as-built” quantities

3.

Decrease in Cost: $ 5,071.49

4. New Contract Total: $ 363,730.48


provided by the Treasurer and said amended Certificate indicates the

availability of funds is as listed in Account #02-213-41-864185-391 ($-

$760.23) and Account #04-216-55-953165-951 (-$4,291.26), and said

accounts shall be credited.




--

(9)

RESOLUTION AUTHORIZING EXECUTION OF MODIFCATION NO. 1

TO THE FEDERAL AID AGREEMENT NO. 2009-DT-BLA1-30

BETWEEN NJDOT AND THE COUNTY OF MORRIS FOR THE WESTHANOVER AVENUS AND BURNHAM ROAD INTERSECTION

IMPROVEEMENTS IN THE BOROUGH OF MORRIS PLAINS AND THE

TOWNSHIP OF MORRIS

WHEREAS, Federal Funds are available for Transportation Improvement

Program Projects; and

WHEREAS, the New Jersey Department of Transportation has prepared

Federal Aid Agreement No. 2009-DT-BLA1-30, a cost reimbursement agreement,

which is established under and constitutes a part of the Basic Agreement

signed on February 25, 2010;

WHEREAS, it has become necessary to reduce the authorized amount to

meet the bid prices. As a result the reimbursed cost to Morris County for the

project will be $178,819.00.

NOW, THEREFORE BE IT RESOLVED that the Board of Chosen Freeholders of

the County of Morris in the State of New Jersey does hereby authorize the

Director and the Clerk of the Board to execute Modification No. 1 to Federal

Aid Agreement No. 2009-DT-BLA1-30 with the New Jersey Department of

Transportation.

--

(10)

RESOLUTION AUTHORIZING EXECUTION OF MODIFCATION NO. 1TO THE FEDERAL AID AGREEMENT NO. 2009-DT-BLA1-31

BETWEEN NJDOT AND THE COUNTY OF MORRIS FOR THE RIDGEDALE

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WHEREAS, it has become necessary to reduce the authorized amount to

meet the bid prices. As a result the reimbursed cost to the Morris County for

the project will be $262,561.00.

NOW, THEREFORE BE IT RESOLVED that the Board of Chosen Freeholders of

the County of Morris in the State of New Jersey does hereby authorize the

Director and the Clerk of the Board to execute Modification No. 1 to FederalAid Agreement No. 2009-Dt-BLA1-31 with the New Jersey Department of

Transportation.

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(11)

RESOLUTION AUTHORIIZNG THE COUNTY OF MORRIS TO ENTER INTO AN

INTER-LOCAL SERVICE AGREEMENT WITH THE SOUTHEAST

MORRIS COUNTY MUNICIPAL UTILITIES AUTHORITY

FOR THE RELOCATION OF AN EXISTING 12” WATER MAIN

IN CONJUNCTION WITH THE REPLACEMENT OF BRIDGE NO. 1400-386

ON COUNTY ROUTE 622 (WHIPPANY ROAD) OVER THE

WHIPPANY RIVER IN THE TOWNSHIP OH HANOVER

WHEREAS, there exists a need for the relocation of an existing 8-inch

diameter cast iron water main in conjunction with the replacement of Bridge

No. 1400-386 on County Route 622 (Whippany Road) over the Whippany River in

the Township of Hanover; and

WHEREAS, the existing cast iron water main is owned by the Southeast

Morris County Municipal Utilities Authority and has to be relocated as it

interferes with the construction of the proposed bridge; and

WHEREAS, the work involved in the relocation of the ductile iron water

main is to be incorporated into the County’s Contract to replace Bridge No.

1400-386; and

WHEREAS, the cost associated with this work is estimated to be

approximately Forty Eight Thousand Eight Hundred Twenty Dollars ($48,820.00);

and

WHEREAS, the Southeast Morris County Municipal Utilities Authority will

reimburse the County for all costs associated with this work, including

additional work resulting from any field conditions not forseen at the time

the Contract is awarded.

NOW THEREFORE, BE IT RESOLVED by the Board of Chosen Freeholders of the

County of Morris in the State of New Jersey as follows:

1. An agreement between the County of Morris and the Southeast Morris

County Municipal utilities Authority which Agreement is on file in the

Office of the County Engineer and will be made a part thereof by

reference, is hereby approved and shall be entered into by this Board.

2. That the Freeholder Director and the Clerk of the Board of Chosen

Freeholders of the County of Morris are hereby authorized to sign the

Agreement between the County of Morris and the Southeast Morris County

Municipal Utilities Authority.

3. The referenced Southeast Morris County Municipal Utilities Authority/

County of Morris Agreement is attached hereto and made a part of this

resolution.


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Dept: Engineering

1. The Director is authorized to execute and the Clerk shall attest and

affix the seal to the contract as prepared by County Counsel.

2. The Treasurer is hereby authorized to issue a Certificate of

Availability of Funds.


4. This contract is awarded pursuant to a fair and open process in

compliance with N.J.S.A. 19:44A-20.1, et seq.

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(15)

WHEREAS, on December 8, 2010, by Resolution #36, a contract was entered

into with NMS Labs for professional toxicological testing services to provide

legally defensible forensic toxicology analysis on death investigation cases

for the Morris County Medical Examiner’s Office for the calendar year 2011for $40,000.00; and,

WHEREAS, on December 14, 2011 an amendment to the above was approved,

increasing the contract amount by $12,000.00 to $52,000.00 to cover

additional services provided under a Tri-County Medical Services Agreement;

and,

WHEREAS, it is again necessary to increase the contract amount by

$6,000.00 to $58,000.00 to cover additional services provided under a Tri-

County Medical Services Agreement; and,

WHEREAS, NMS Labs has agreed to perform the service; and,

WHEREAS, the Local Public Contracts Law {N.J.S.A. 40A:11-

5(1)(a)(i)}requires that the resolution authorizing the award of contract

for “Professional Services” without competitive bidding, and the contract

itself must be available for public inspection;

NOW, THEREFORE, BE IT RESOLVED, by the Board of Chosen Freeholders of

the County of Morris in the State of New Jersey as follows:

1. The amendment to the agreement between the County of Morris and NMS

Labs, 3701 Welsh Road, Willow Grove, PA, 19090, increasing the amount

as set forth above, a copy of which is on file in the Office of the

County Purchasing Agent and made a part hereof by reference is hereby

approved and entered into by this Board.


sign and execute this amendment, conditioned upon the contractor’s

compliance with the requirements set forth in paragraph 4 below.

3. The Treasurer is hereby authorized to issue an amended Certificate of

Availability of Funds #29239, reflecting the increase in the amount of

the aforesaid agreement to $58,000.00 and charging account number 01-

203-25-254100-084 for the increase.


compliance with N.J.S.A. 19:44A-20.1, et seq.

5. An official notice of this action shall be published in accordance with

the law.

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(21)

WHEREAS, the County of Morris wishes to participate in the LIHEAP (Low

Income Home Energy Assistance Program) for qualified residents of Morris

County; and,

WHEREAS, a grant of $3,760.00 is available to provide funds for

administrative costs of the above program.

NOW,THEREFORE, BE IT RESOLVED, by the Board of Chosen Freeholders of

the County of Morris in the State of New Jersey that the Director of the

Board of Chosen Freeholders is hereby authorized to sign and execute

Resolution authorizing the execution of a Universal Service Fund CWA

Administration 2012 GA#2012-05134-0149-00 grant for the LIHEAP (Low Income

Home Energy Assistance Program) for $3,760.00, a copy of which is on file in

the Office of Temporary Assistance and made a part hereof by reference.

BE IT FURTHER RESOLVED, that the Director of the Department of Finance

and County Treasurer is hereby authorized to accept the aforesaid funds,

crediting the appropriate account.

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(22)

BE IT RESOLVED as follows:

1. The County of Morris wishes to purchase goods and services from the

following authorized vendors under the State of New Jersey cooperative

Purchasing Program 1-NJCP, according to Local Public Contracts Laws.

N.J.S. 40A:11-12.

Motorola Communications & Electronics Inc. Law & Public Safety PO Box 305 02-213-41-784215-391

Bordentown NJ 08505-0305 Amount: $334,679.25

NJSC#A53804

Motorola Communications & Electronics Inc. Law & Public Safety

PO Box 305 02-213-41-784215-391

Bordentown, NJ 08505-0305 Amount: $54,312.00

NJSC#A53804

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(23)



following authorized vendors under the State of New Jersey Cooperative

Purchasing Program 1-NJCP, according to Local Public Contracts Laws

N.J.S. 40A:11-12.

Motorola Communications & Law & Public Safety

Electronics Inc. 02-213-41-784315-391

PO Box 305 Amount: $132,385.50

Bordentown, NJ 08505-0305

NJSC#A53804

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2. Item: Additional records storage services

3. Increase in Cost: $ 10,050.00




availability of funds is as listed in Account #01-203-20-140100-073 and

said account shall be charged.




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(25)

WHEREAS, a contract was awarded for fire sprinkler maintenance and

inspection; and

WHEREAS, it has been determined that it is necessary to increase said

contract for payment of 2011 outstanding unanticipated repairs for which

payment cannot be made due to insufficient funds $22,000.00, additionally, an

increase of $10,000.00 for 2012 repair bills due to advance of this amount

last year to pay for unanticipated repairs;





1. Vendor: S.A. Comunale Co., Inc.

2900 Newpark Drive

Barberton, OH 44203

2. Item: Unanticipated repairs

3. Increase in Cost: $ 32,000.00




availability of funds is as listed in Account #70-201-23-212100-442,

CAF #29345 ($22,000.00-2011) and Account #70-201-23-212100-223, CAF

#49515 ($10,000.00 –2012) and said account shall be charged.




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(26)

WHEREAS, on February 14, 2001 an agreement was entered into between the

County of Morris (County) and TKR Cable Inc. 5619 DTC Parkway, Edgewood, CO

80111-3000, which allowed the Director of Finance/County Treasurer(treasurer) to retain twenty (20%) percent of Seven Thousand Dollars

($7,000.00) to be placed on deposit in an interest bearing account with the

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($1,400.00) together with accrued interest to CSC TKR Cable LLC dba

Cablevision of Morris 1111 Stewart Avenue, Bethpage N.Y. 11714.

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(27)

WHEREAS, on February 14, 2001 an agreement was entered into between the

County of Morris (County) and TKR Cable Inc. 5619 DTC Parkway, Edgewood, CO

80111-3000, which allowed the Director of Finance/County Treasurer

(treasurer) to retain twenty (20%) percent of Forty Thousand Four Hundred

Twenty Dollars ($40,420.00) to be placed on deposit in an interest bearing

account with the County through its Road Inspection Office (Engineering) in

lieu of a Maintenance Bond for Road Opening permit #96-474 for work and

construction done on 663 Blue Mill Road, Harding Township.

WHEREAS, Engineering has requested that the County through it Treasurer

release the sum of Eight Thousand Eighty Four Dollars ($8,084.00) together

with accrued interest on said amount to CSC TKR Cable LLC dba Cablevision of

Morris the assignee of TKR Cable Inc., 1111 Stewart Avenue, Bethpage, NY

11714.

NOW THEREFORE, BE IT RESOLVED by the Board of Chosen Freeholders of the

County of Morris that the Director of Finance/County Treasurer be and is

hereby authorized to release the sum of Eight Thousand Eighty Four Dollars

($8,084.00) together with accrued interest to CSC TKR Cable LLC dba

Cablevision of Morris 1111 Stewart Avenue, Bethpage N.Y. 11714.

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(28)



following authorized vendors under the State of New Jersey cooperative

Purchasing Program 1-NJCP, in accordance with Local Public Contracts

Laws, N.J.S.A. 40A:11-11 and N.J.S.A. 40A:11-12

Tilcon New York Inc. Road Division

Po Box 517 01-201-26-290100-222

Wharton, NJ 07885 Amount: $2,089.57

Co-op#5

Tilcon New York Inc. Road Division

PO Box 517 01-201-26-290100-244

Wharton, NJ 07885 Amount: $1,313.80

Co-op#9

Dell Marketing LP ITD

One Dell Way 04-216-55-962182-955

Round Rock, TX 78682 Amount: $3,621.56

NJSC#A77003

Dell Marketing LP Administration

One Dell Way 13-290-56-578401-888

Round Rock, TX 78082 Amount: $7,363.84

NJSC#A70256

Enterasys/Cabletron Systems ITD

50 Minutes Road 04-216-55-962231-909Andover, MA 01810 Amount: $10,687.50

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200 Keystone Drive

Teford, PA 18969

Amount: $45,502.50

Vendor#21363

Said amount shall be charged to Account: 04-216-55-953257-951


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(30)

This resolution was tabled.

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(31)

BE IT RESOLVED, by the Board of Chosen Freeholders of the County of

Morris in the State of New Jersey as follows:

1. That the Director of the Board of Chosen Freeholders is hereby

authorized to sign and execute Subgrant Agreement #PSS3316-12Y-WIA

between the County of Morris and Project Self Sufficiency on behalf of

the Morris/Sussex/Warren Employment & Training Services in the amount

of $70,000 and the associated transportation addendum in the amount of

$28,200 for the period 02/01/12 to 12/31/12.


Availability of Funds charging Employment & Training Services Account

No. 02-213-41-742020-391 in the amount of $70,000 and a Certificate of

Availability of Funds charging Employment & Training Services Account

No. 02-213-41-742010-391 in the amount of $28,200, in accordance with

the above.

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(32)

WHEREAS, on April 13th 2011 by Resolution #32 a contract for Can Liners,

for Various Morris County departments was awarded to the lowest responsible

bidder, Central Poly Corp. and,

WHEREAS, the specifications provided an option for renewal for one year

and,

WHEREAS, it is in the best interest of the County to exercise said

option, now therefore,

BE IT RESOLVED, that said contract with, Central Poly Corp. be renewed

as follows:

Central Poly Corp. $34,922.68

18 Donaldson Place

PO Box 4097

Linden, NJ 07036

Term: January 1, 2012 through December 31, 2012

Budget: 01-201-26-310100-252 Bldgs. & Grounds

Amount: $6,980.25

Budget: 01-201-25-280100-252 MC Correctional

Amount: $7,008.95

Budget: 60-201-84-PKM140-666 Park Commission

Amount: $18,042.56

Budget: 01-201-25-281100-252 Juvenile DetentionAmount: $612.95

Budget: 01-201-27-331110-252 Youth Shelter

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Green Pond Road/ a. Between the northerly Rockaway

Hibernia Avenue/ Borough/Rockaway Township Line

Halsey Avenue/ and Wall Street/Main Street -

Church Street/ a stop sign to be installed on

Wall Street/West southbound Wall Street at Main

Street (CR #513) Street.

b. Between Wall Street and West Main

Street (the southerly Rockaway

Borough/Rockaway Township Line)

2. Regulatory and Warning signs shall be erected and maintained to effect

the above designated Through Street Designation as authorized by the

Department of Transportation.

(a) Regulatory and Warning signs required because of the physical

features of the road are to be installed and maintained by the

County of Morris.

3. That all ordinances and/or resolutions or portions thereof inconsistent

with this resolution are hereby repealed.

4. That a certified copy of this resolution bearing the Morris County seal

shall be forwarded each of the following:

(a) Township of Rockaway (b) Morris County Engineer

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(35)

With respect to recent bidding for Long distance Telephone Services for

Morris County Facilities, a contract is hereby awarded to the lowest

responsible bidder as follows:

AT&T Total

AT&T Way Room-2C224E $21,926.76

Bedminster, NJ 07921

Term: 01/01/12 through 12/31/12

Split Budget:

Risk Management 70-201-23-212100-146 - $160.00

Weights & Measures 01-201-22-201100-146 – $140.00

Road Repairs 01-201-26-290100-146 - $150.00

OTA 01-201-27-345100-146 - $1,725.00

Morris View 01-201-27-350100-146 - $1,825.00

Util/telephone 01-201-31-430100-146 - $18,000.00

1. The Treasurer is hereby authorized to issue a Certificate of Availability

of Funds charging the appropriate department account for amounts

reflecting all liabilities to be incurred through March 31, 2012, in

accordance with N.J.R. 3644, 5:34-5.3 (a) (2).

2. Upon final adoption of the budget, a Certificate of Availability of Funds

shall be issued for the remaining balance subject to the appropriation of

sufficient funds.

3. The Purchasing Agent is hereby authorized to execute said contract as

prepared by County Counsel.


5. This contract is awarded pursuant to fair and open process in compliance

with N.J.S.A. 19:44A-20.1 et seq.

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1. Vendor: Complete Security Systems, Inc.94 Vanderburg Road

Marlboro, NJ 07746

2. Items: Additional Equipment Required

3. Increase: $ 3,180.00




availability of funds is as listed in Capital Account #01-201-27-

345100-336 and said account shall be charged.




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(43)

With respect to recent bidding for the provision of Morris County

Information Technology Operational and Management Assessment for the Phase I

and Phase II only, a contract is hereby awarded to the most responsible

bidder as follows:

Total

$198,840.32 (not to exceed)

Dell Marketing, L.P.

One Dell Way, RR8-06

Round Rock, TX 78682

Term: Not to exceed fifteen (15) months from the award

Budget: 01-201-20-100100-084

Dept: County Administrator


Availability of Funds charging the appropriate account for amounts

reflecting all liabilities to be incurred through March 31, 2012, in

accordance with N.J.R. 3644, 5:34-5.3 (a) (2).

2. Upon final adoption of the budget, a Certificate of Availability of

Funds shall be issued for the remaining balance subject to the

appropriation of sufficient funds.

3. The Purchasing Agent is hereby authorized to execute said contract as

prepared by County Counsel.



compliance with N.J.S.A. 19”44A-20.4 et seq.

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FH Minutes - 2012-02-08

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