On March 25 the Borough Commissioners passed a resolution authorizing the solicitations of bids for the sale of the water and wastewater utility system. Those bids were received on May 14th. The results of the bids were as follows:
NJ American $ 28.5Â Million
Aqua $ 23.126Â Million
United $ 19.050Â million
Over the next month the Commissioners and the citizen volunteer committee with the assistance of McManimon, Scotland and Baumann and Phoenix Advisors, will conduct further detailed analysis of the bids and municipal operating costs. Once a decision has been made a public meeting will be scheduled to discuss the decision. If the choice is to move ahead with the sale a public referendum would be held in November 2014.
For further information, contact the Borough Commissioners or Sharon McCullough at 856–429–4700 or [email protected]
