WHEREAS, the Borough Council has determined that the Borough should appropriate $225,000.00 of which $70,000.00 is from the General Capital Improvement Fund and $155,000.00 is a Grant from the New Jersey Department of Transportation (ISTEA); and

WHEREAS, the sum of $155,000.00 was previously appropriated for the Bike Plan by Ordinance 33-2004 which Ordinance should be cancelled; and

WHEREAS, the Director of Finance has attested to the availability of funds in the General Capital Improvement Fund in the amount of $70,000.00 and $155,000.00 will be received from the State of New Jersey ISTEA grant.

NOW THEREFORE BE IT ORDAINED, by the Council of the Borough of Madison in the County of Morris and State of New Jersey, as follows:

SECTION I: Ordinance 33-2004 is hereby cancelled.

SECTION 2: The amount of $225,000.00 is hereby appropriated from the General Capital Fund for the Madison Bike Plan.

SECTION 3: The budget of the Borough is hereby amended to conform with the provisions of this Ordinance.

SECTION 4: This Ordinance shall take effect as provided by law.

ADOPTED AND APPROVED

December 12, 2005

____________________________

ELLWOOD R. KERKESLAGER, Mayor

Attest:

_________________________________

MARILYN SCHAEFER, Borough Clerk

Introduced and adopted: November 28, 2005

Published, Madison Eagle: December 1, 2005

Hearing and final adoption: December 12, 2005

Published, Madison Eagle: December 15, 2005