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The original item was published from 5/4/2020 5:30:39 PM to 5/4/2020 5:31:58 PM.

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Emergency Management & Public Health

Posted on: May 4, 2020

[ARCHIVED] Upcoming Legislative Briefings on A-3981 for Coronavirus Relief Bonds

Mayors Keith Kazmark of Woodland Park, Colleen Mahr of Fanwood, and Matt Moench of Bridgewater invite you, your business administrators, and your chief financial officers to a panel discussion on prospective legislation (A-3971) that would permit counties and municipalities to issue Coronavirus Relief Bonds and Notes. This bill will be considered by the Assembly Commerce and Economic Development Committee on Thursday, May 7. 

As proposed, counties and municipalities would be permitted, at their discretion, to bond for short- and/or long-term finance both the lost revenues and the increased expenses resulting from the Coronavirus pandemic. Recovery from this crisis will take long-term planning and vision. The Coronavirus Relief Bonds and Notes will generate the revenue needed by local units while providing flexibility to create a repayment schedule that works for each local unit. 

Counties and municipalities cannot afford to wait and see whether local government relief is coming from the Federal or State government and need additional flexibility and tools now to manage their own unique financial situation. It is time for Mayors to lead the way to craft local solutions to local problems. The same presentation will be made at two separate times to accommodate your schedule. To register, see the links below.  After registering, you will receive a confirmation email containing information about joining the webinar.

•    May 6 – 12:00 noon - 1 p.m., Registration

•    May 7 –   5:00 p.m.- 6 p.m. Registration   

Likewise, the League will be hosting a webinar later this week to provide an overview of current legislation introduced in response to COVID-19 pandemic. We will follow with registration information in the next day or so.    

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