ORDINANCE 2-2008

ORDINANCE OF THE BOROUGH OF MADISON APPROPRIATING $8,500.00 FROM THE ELECTRIC CAPITAL IMPROVEMENT FUND FOR INITIAL LOAD STUDY BY JCP&L OF ELECTRIC UTILITY

WHEREAS, the Borough Administrator has recommended that the Borough appropriate $8,500.00 from the Electric Capital Improvement Fund for JCP&L to perform an Initial Load Study of the Electric Utility; and

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 $8,500.00 for this purpose; and

WHEREAS, the Borough Council has determined that the Borough should appropriate $8,500.00 from the Electric Capital Improvement Fund for JCP&L to perform an Initial Load Study of the Electric Utility; 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 $8,500.00 is hereby appropriated from the Electric Capital Improvement Fund for JCP&L to perform an Initial Load Study of the Electric Utility.

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

January 28, 2008

____________________________

MARY-ANNA HOLDEN, Mayor

Attest:

_________________________________

MARILYN SCHAEFER, Borough Clerk

Introduced and passed: January 14, 2008

Published, Madison Eagle: January 17, 2008

Hearing and consideration for final adoption: January 28, 2008

Published upon final adoption, Madison Eagle: January 31, 2008