A Community by the River

Borough of Brielle, NJ

Bond Notice

December 03 2014

December 3rd, 2014

(Monmouth County, New Jersey)
(Bank Qualified)
Bids are being solicited through a fair and open process in accordance with N.J.S.A. 19:44A-20.5 for the purchase of $160,000 Special Emergency Notes, Series 2014B (the “Notes”) of the Borough of Brielle, in the County of Monmouth, New Jersey (the “Borough”). All bids will be publicly opened and announced at the Office of the Borough Chief Financial Officer on Thursday, December 11, 2014, at 11:30 a.m., prevailing local time (“Sale Date”).
No telephone bids will be accepted. Bids must be received by 11:00 a.m. on the Sale Date, and may be submitted by completing the attached bid form and submitting to the address and/or fax number shown on the bid form. Sealed bids are encouraged, but faxed bids will be accepted provided they comply with the conditions stated herein. If a bidder wishes to transmit its bid by fax, it must be accompanied by a cover sheet stating clearly “BID FOR NOTES”, and such bidder hereby acknowledges that such faxed bid will not be reviewed by the Borough until the public opening of the bids as aforesaid. This Notice of Sale for Bid has been posted on the Borough of Brielle’s website (www.briellenj.com).
Each bid must offer to purchase the entire Note issue being offered at no less than par plus accrued interest and must specify a single rate of interest per annum offered for the Notes. The Chief Financial Officer will evaluate the bids on the basis of the lowest net interest cost to the Borough. Award of the Notes to the bidder proposing the lowest net interest cost or rejection of all bids will be made by 2:00 p.m. on the Sale Date. As between bidders specifying the same lowest net interest cost, the Notes will be sold to the bidder selected by lot from among all such bidders. The Borough reserves the right to reject all bids.
The successful bidder is advised of the responsibility to file an annual disclosure statement on political contributions with the New Jersey Election Law Enforcement Commission pursuant to N.J.S.A. 19:44A-20.13 (P.L. 2005, c.271, s.3) if the successful bidder receives contracts in excess of $50,000 from public entities in a calendar year. It is the successful bidder’s responsibility to determine if filing is necessary. Additional information on this requirement is available from ELEC at 888-313-3532 or at www.elec.state.nj.us.
Principal Amount: $160,000 Special Emergency Notes, Series 2014B
Dated Date: December 22, 2014
Maturity Date: December 21, 2015
Interest Rate per Annum: Specified by successful bidder, payable at maturity
Denomination: $160,000
Legal Opinion: Dilworth Paxson LLP, Red Bank, New Jersey, Bond Counsel
Closing: December 22, 2014, at the Borough offices or elsewhere, as agreed to with the successful bidder.
Payment: Immediately available funds

The Notes are issued pursuant to the laws of the State of New Jersey, including the Local Budget Law and specifically N.J.S.A. 40A:4-53, et seq., to refund notes issued for special emergency appropriations, authorized by Ordinance No. 1027 duly adopted by the Borough on May 13, 2013 and Resolution No. 13-89-D duly adopted by the Borough on December 9, 2013, for costs associated with the preparation of a program of revaluation of real property.
The Notes shall be general obligations of the Borough and to the extent the Notes are not paid from other sources, the Borough is obligated to levy ad valorem taxes upon all the taxable real property therein for the payment of the debt service on the Notes without limitation as to rate or amount. The Notes will mature without option of prior redemption, will be issued in bearer form without coupons, will be registrable as to both principal and interest, payable at maturity in lawful money of the United States of America, and interest will be calculated on the basis of a 30 day month/360 day year. The Notes will be designated “Qualified Tax-Exempt Obligations” for purposes of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended.
The obligations hereunder to deliver and to accept the Notes shall be conditioned on the availability and delivery at the time of delivery of the Notes of (a) the approving legal opinion of the law firm of Dilworth Paxson LLP, Red Bank, New Jersey (“Bond Counsel”), which will be furnished without cost to the successful bidder, to the effect that the Notes are valid and legally binding obligations of the Borough of Brielle, New Jersey, payable in the first instance from bonds in anticipation of which the Notes are issued, but if not so paid or if not paid from other sources, payable ultimately from ad valorem taxes which may be levied on all the taxable real property in the Borough without limitation as to rate or amount, and that interest on the Notes is excluded from gross income for Federal tax purposes under current law if the Borough complies with all conditions subsequent contained in the Internal Revenue Code of 1986, as amended (the “Code”), except to the extent that interest on the Notes held by a corporate taxpayer is included in the relevant income computations for calculation of the corporate alternative minimum tax and that interest on the Notes and any gain on the sale thereof are not includable as gross income under the present New Jersey Gross Income Tax Act; (b) certificates in form satisfactory to Bond Counsel evidencing the proper execution and delivery of the Notes, the receipt of payment therefor and the compliance with the requirements of the Code necessary so that the Notes will not be arbitrage obligations within the meaning of the Code; and (c) a certificate, in form and tenor satisfactory to Bond Counsel and dated as of the date of such delivery, to the effect that there is no litigation pending or (to the knowledge of the signer or signers thereof) threatened affecting the validity of the Notes.
If the Notes are reoffered to the public, the purchaser thereof is required to certify the reasonably expected reoffering price, yield, net interest cost and true interest cost for the Notes and CUSIP identifications numbers, if any, therefor prior to the Closing on the Notes.
No Preliminary Official Statement or other offering document will be prepared by the Borough for this issue. However, certain financial information concerning the Borough is available upon request. For such information please contact the Borough Chief Financial Officer, Stephen Mayer, at (732) 820-4828 or Meghan Bennett Clark, Esq., Dilworth Paxson LLP, Bond Counsel, at (732) 383-5529.
/s/ Stephen Mayer____
Chief Financial Officer
DATED: December 3, 2014

December 11, 2014
Mr. Stephen Mayer
Chief Financial Officer
601 Union Lane
Brielle, New Jersey 08730

FAX: 732-449-8996
Dear Mr. Mayer:
Subject to the provisions of the Notice of Sale dated December 3, 2014, relating to $160,000 Special Emergency Notes, Series 2014B, dated December 22, 2014 and due December 21, 2015, that is made a part hereof, we offer to purchase the Notes described therein as follows:
Interest Rate Per annum %
Amount of Notes Bid for $160,000
Price of Notes Bid for $
(at no less than par)
Net Interest Cost $ / %
(please specify in both
dollars and percent)
and, in addition thereto, to pay interest accrued from the Dated Date of the Notes to the date of delivery, if Closing shall occur subsequent to the Dated Date.

Signature of Authorized Officer
Name of Bidder
Address of Bidder
Telephone Number

Email Address