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Port RepublicGreen Risk

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2012 Supplemental Debt Statement

BID #: N/A

DUE: TBD

VALUE: $1,136,500

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Executive Summary

The City of Port Republic, New Jersey, submitted a Supplemental Debt Statement as of December 11, 2012. The document outlines the city's net debt, equalized valuation basis, and borrowing power available under New Jersey statutes. It includes details on net debt as of the statement date, amounts for proposed authorizations like City Hall construction ($186,500), and computations related to regional school indebtedness and deductions.

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Document Text

--- Document: 2012 Supplemental Debt Statement Document ---
STATE OF NEW JERSEY
DEPARTMENT OF COMMUNITY AFFAIRS
SUPPLEMENTAL DEBT STATEMENT

OF

City of Port Republic County of Atlantic
As of December 11 ,20 12

1. The net debt of the local unit after giving effect to obligations about to be author-
ized, is (page 2, line 4) $ 1,136,500

2. Equalized valuation basis (the average of the equalized valuations of real estate,
including improvements, and the assessed valuation of class II railroad property of
the local unit for the last 3 preceding years) as stated in the Annual Debt State-
ment or the revision thereof last filed
YEAR
(1) 20 09 Equalized Valuation Real Property with Improvements plus assessed
valuation of Class II R.R. property $ 150,066,498

(2) 20 10 Equalized Valuation Real Property with Improvements plus assessed
valuation of Class II R.R. property $ 143,267,037

(3) 20 11 Equalized Valuation Real Property with Improvements plus assessed
valuation of Class II R.R. property $ 139,963,512

3. Equalized Valuation Basis Average of (1), (2) and (3) $ 144,432,349

4. Net debt (Line 1 above) expressed as a percentage of such equalized valuation
basis (Line 3 above) is:

Seventy nine one hundredths per cent ( 0.79%)

STATE OF NEW JERSEY
}
}
SS
COUNTY OF Atlantic
}
Gina Simon , being duly sworn, deposes and says:
Deponent is the chief financial officer of the City of
Port Republic
County of Atlantic

here and in the statement hereinafter mentioned called "the local unit." The Supplemental Debt State-
ment annexed hereto and hereby made a part hereof is a true statement of the debt condition of the local
unit as of the date therein stated and is computed as provided by the Local Bond Law of New Jersey.

Subscribed and sworn to before me
this day of December, 2012
Name Gina Simon
gm25.
Title Chief Financial Officer
Address 143 Main Street, Port Republic NJ 08241
Notary Public of New Jersey
(NOTE----In all cases two copies of Supplemental Debt Statement must be filed with:)

DIVISION OF LOCAL GOVERNMENT SERVICES
CN 803
TRENTON, NEW JERSEY 08625-0258

KIMBERLY A. CAMPELLONE
NOTARY PUBLIC OF NEW JERSEY
Commission Expires 12/2/2013
2
1. The net debt of the local unit, as stated in the Annual Debt Statement made as of December 31, 2011,
or the revision thereof last filed, with respect to the following classes of bonds and notes, the amount
by which each class has been increased by the authorization of additional debt, and the amount by
which each class has been decreased by payment of outstanding debt or reduction of the authorization
to incur debt, is as follows:

Net Debt as per
Annual Debt
Statement
Decrease
Increase
(Since December 31, Last Past)
Net Debt
Bonds and notes for school
purposes $ None $ None $ None $ 0
Bonds and notes for self-
liquidating purposes $ None $ None $ None $ 0
Other bonds and notes $ 950,000 $ None $ None $ 950,000

2. Net debt at the time of this statement is: $ 950,000
3. The amounts and purposes separately itemized of the obligations about to be
authorized and any deductions which may be made on account of each such item are:
(see note "C" below)
Purpose Amount Deduction Net
Construction of City Hall 186,500 $ $ 186,500
$ $
$ $
$ $
$ $
$ 186,500
4. The net debt of the local unit determined by the addition of the net amounts stated
in items 2 and 3 above is: $ 1,136,500
Notes
A. If authorizations of bonds or notes is permitted by an exception to the debt limitation, specify the particular paragraph
of N.J.S. 40A:2-7 or other section or law providing such exception.
B. This form is also to be used in the bonding of separate (not Type I) school districts as required by N.J.S. 18A:24-16,
and filed before the school district election. In such case pages 4, 5, and 6 should be completed to set forth computation
supporting and deduction in line 3 above.
C. Only the account of bonds or notes about to be authorized should be entered. The amount of the "down payment" pro-
vided in the bond ordinance should not be included nor shown as a deduction.
SPECIAL DEBT STATEMENT 3

BORROWING POWER AVAILABLE UNDER N.J.S. 40A:2-7(f)

1. Amount of accumulated debt incurring capacity under R. S.
40:1-16 (d) as shown on the latest Annual Debt Statement. $

2. Obligations heretofore authorized in excess of debt limitation
and pursuant to:
(a) N.J.S. 40A:2-7, paragraph (d) $
(b) N.J.S. 40A:2-7, paragraph (f) $
(c) N.J.S. 40A:2-7, paragraph (g) $
Total $

3. Available debt incurring capacity (N.J.S. 40A:2-7 (f)) $

4. Obligations about to be authorized pursuant to N.J.S. 40A:2-7
(If item 3 equals or exceeds item 4, obligations may be author-
ized) $

BORROWING POWER AVAILABLE UNDER N.J.S. 40A:2-7(g)

1. Total appropriations made in local unit budget for current
fiscal year for payment of obligations of local unit included in
Annual Debt Statement or revision thereof last filed as of pre-
ceding December 31, 2011 $

2. Less the amount of such obligations which constitute utility and
assessment obligations: $

3. Excess of item 1 over item 2: $

4. Amount raised in the tax levy of the current fiscal year by the local
unit for the payment of bonds or notes of any school district $

5. Amount equal to 2/3 of the sum of item 3 and item 4 $

6. (a) Amount of obligations heretofore authorized under
N.J.S.40A:2-7(g) in current fiscal year $
(b) Amount of authorizations included in 6(a) which were
heretofore repealed $
(c) Excess of item 6(a) over item 6(b) $

7. Excess of item 5 over item 6(c) $
8. Obligations about to be authorized $

9. Borrowing capacity still remaining after proposed authorization
(item 7 less item 8) $
(If item 7 equals or exceeds item 8, obligations may be
authorized)
COMPUTATION OF REGIONAL SCHOOL INDEBTEDNESS 4
1 2 3 4 5 6
MUNICIPALITY
Average Equalized
Valuations
40A:2-43
Amount
Percentage
Apportionment of
Previous
Bonds Issued
or Authorized
AMOUNT
Apportionment of
Proposed
Bond Issue
Total Apportionment of
Previous Bonds Is-
sued or Authorized
Plus Apportionment
Proposed Bond Issue
Column 3 Plus 4
Debt
Limitation

0 0.000000000% 0 0 0 0
COMPUTATION OF SCHOOL INDEBTEDNESS AND DEDUCTIONS 5
UNDER PROVISIONS OF N. J. S. 18A: 24-17

*Note: In a "Consolidated" School District, lines 18 to 24 must first be filled in.
N. J. S. 18A: 24-19 (Lines 1 to 7)

1. Average of equalized valuations (page 1, line 3) $

*2. Gross School District Debt outstanding and authorized and unissued (not includ-
ing proposed issue) $

3. Less: Sinking funds held for payment of School Debt, by Sinking Fund
Commission $

4. Net debt for school purposes (line 2, minus line 3) $

5. Debt deduction for school purposes: 3% (as per line_(b)_ below)
(a) 2 1/2 % Kindergarten or Grade 1 through Grade 6 $
(b) 3 % Kindergarten or Grade 1 through Grade 8 $ 0
(c) 3 1/2 % Kindergarten or Grade 1 through Grade 9 $
(d) 4 % Kindergarten or Grade 1 through Grade 12 $
(e) Other (insert applicable description)
% $
(f) Additional State School Building Aid Bonds
N.J.S. 18A: 58-33.4 (d)) (if included in line 2) $

6. Available debt deduction (excess, if any, of line 5 over line 4 --- enter on page
2, line 3 as "Deduction," not exceeding, however, the "Amount" shown in that line.) $ 0
*7. School Bonds about to be authorized $ 0

Note: Omit lines 8 to 13, if line 6 equals or exceeds line 7, or if shown on line 17
N. J. S. 18A: 24-22 (Lines 8 to 13)

8. Excess of line 7 over line 6 $ 0

9. Municipal Debt Limit (3 1/2% of line 1 above) $ 0

10. Net Debt (page 2, line 2) $ 0

11. Available Municipal Borrowing Margin (excess, if any, of line 9 over line 10) $ 0

12. Use of Municipal Borrowing Margin (line 8 not exceeding line 11) $ 0

13. Remaining Municipal Borrowing Margin after authorization of proposed School
Bonds (line 11 minus line 12) $ 0

Note: Omit lines 14 to 16, if line 11 equals or exceeds line 8, or if shown on line 17
N. J. S. 18A: 24-24 (lines 14 to 16)

14. Amount of line 7 $

15. Amount of Deduction:
(a) Amount of line 6 $
(b) Amount of line 11 $
Total $

16. Excess of line 14 over line 15 $
N. J. S. 18A: 58-33.4(d) (line 17)
17. Additional State School Building Aid Bonds about to be
authorized (amount of line 7) $

18. Total of average equalized valuation basis of each municipality in whole School District
MUNICIPALITY AMOUNT
$
$
$
$
19. Gross School District Debt outstanding and authorized and unissued (not includ-
ing proposed issue) $
6
School District
$
equals $
20. Less: School District Debt apportioned to other municipalities, N.J.S. 40A:2-43
Total of average equalized valuation basis of each municipality in whole
(line 18, minus line: $
times line 19
$
Divided by total of average equalized valuation basis of each municipality
in whole School District
$
(line 18) $

21. Gross School District Debt of this municipality only (line 19 minus line 20) $

22. School Bonds about to be authorized $
23. Less: Share of Bonds (line 22) apportioned to other municipalities, N.J.S. 40A:2-43
Total of average equalized valuation basis of each municipality in whole
School District
$
(line 18, minus line: $
equals $
times line 22
$
divided by total of average equalized valuation basis of each municipality
in whole School District
$
(line 18) $
24. This local unit's share of Bonds about to be authorized (line 22 minus line 23) $

$
* Note: In a "Consolidated" School District the amount shown on line 21 must be entered on line 2 an
the amount shown on line 24 must be entered on line 7.
COMPUTATION AS TO INDEBTEDNESS FOR IMPROVEMENT OR EXTENSION OF AN
EXISTING MUNICIPAL PUBLIC UTILITY, N.J.S. 40A:2-7(h); N.J.S. 40A:2-47(a)
Municipal Public Utility

1. Annual Debt Statement, December 31, 2011 excess in revenues of utility $

2. Less: Interest and debt redemption charges computed as provided in N.J.S.
40A:2-47(a) for all obligations heretofore authorized but not issued to
the extent not already charged to income in annual debt statement. $

3. Excess in revenues remaining prior to authorization of proposed obligations
(line 1 minus line 2) $ 0

4. Interest and debt redemption charges calculated for the obligations about to be
authorized (N.J.S. 40A:2-47(a))
(a) Interest for one year at 4 1/2% $

(b) First installment of serial bonds legally issuable $
(c) Total charges (Items (a) and (b)) $ 0

Note: If line 3 equals or exceeds line 4, obligations may be authorized under provisions of N.J.S.
I, 40A:2-7(h) as limited by N.J.S. 40A:2-47(a).
Director of the Division of Local Government
Services in the Department of Community Affairs of the State of New Jersey DO HEREBY
CERTIFY that I have compared this copy of a Supplemental Debt Statement of the above local
unit with the original Supplemental Debt Statement filed in the Office of the Director of the
Division of Local Government Services in the Department of Community Affairs of the State of
New Jersey on and that this is a true copy of
said Statement and the whole thereof.
,
IN WITNESS WHEREOF, I have hereunto set my hand as Director of the Division of Local
Government Services in the Department of Community Affairs of the State of New Jersey, this
day of 20
Director

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2012 Supplemental Debt Statement Document

Contacts

Gina Simon

Chief Financial Officer

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First Discovered

Apr 2, 2026

Last Info Update

Apr 2, 2026

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