Whereas, N.J.S.A.40A:4-39 requires permission of the Director of the Division of Local Government Services for approval as a dedication by rider of revenues received by a municipality when the revenue is not subject to reasonably accurate estimates in advance; and

Whereas, N.J.S.A. 40:55D-53 provides the dedicated revenues anticipated from the Maintenance and Performance Guarantees are hereby anticipated as revenues and are hereby appropriated for the purpose to which said revenues are dedicated by said statute or other legal requirements.

Now, Therefore, Be It Resolved, by the Governing Body of the Municipality of the Borough of Somerville, County of Somerset, New Jersey as follows:

1. 1. The Governing Body does hereby request permission of the Director of the Division of Local Government Services to pay expenditures related to Maintenance and Performance Guarantees in accordance with N.J.S.A. 40:55D-53.
2. 2. The Clerk of the Borough of Somerville, County of Somerset is hereby directed to forward two certified copies of this Resolution to the Director of the Division of Local Government Services.

Whereas, N.J.S.A.40A:4-39 requires permission of the Director of the Division of Local Government Services for approval as a dedication by rider of revenues received by a municipality when the revenue is not subject to reasonably accurate estimates in advance; and