WHEREAS, the Director of Finance has attested to the availability of the funds in the Electric Capital Improvement Fund in an amount not to exceed $15,000.00 for this purpose; and

WHEREAS, the Borough Council has determined that the Borough should appropriate $15,000.00 from the Electric Capital Improvement Fund for asbestos abatement from the water & light plant; and

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 1: The amount of $15,000.00 is hereby appropriated from the Electrical Capital Improvement Fund for asbestos abatement from the water & light plant.

SECTION 2: The budget of the Borough is hereby amended to conform with the provisions of this Ordinance.

SECTION 3: This Ordinance shall take effect as provided by law.

ADOPTED AND APPROVED

April 9, 2007

____________________________

ELLWOOD R. KERKESLAGER, Mayor

Attest:

_________________________________

MARILYN SCHAEFER, Borough Clerk