MINUTES – MENDHAM TOWNSHIP COMMITTEE

Morris County , New Jersey

October 24, 2006

Mayor Krieg called the meeting to order at 7:30 p.m. in Township Hall, Brookside , New Jersey

ROLL CALL                           Present:         Mayor Krieg, Mr. Pierson, Mr. Phelan,

                                                                        Mr. Schrier, Ms. Florek

                                                 Absent:         

                                       Also Present:          Stephen P. Mountain , Township Administrator

Christopher Falcon, Esq., Township Attorney

                                                                        Penny Newell, Township Clerk

SALUTE TO THE FLAG

Mayor Krieg read the following statement:

STATEMENT OF ADEQUATE NOTICE:  “Adequate notice of this meeting of the Township Committee of the Township of Mendham was given as required by the Open Public Meetings Act as follows:  Notice was given to the Observer Tribune and the Daily Record on January 6 2006; Notice was posted on the bulletin board in Township Offices and Notice was filed with the Clerk on January 6, 2006.”

APPROVAL OF MINUTES  - October 10, 2006 – Mr. Pierson made a motion to approve these minutes as written; Mr. Schrier seconded the motion.  ROLL CALL – All present voted YES.

OLD BUSINESS

1.  Ordinance 21-2006 – Second Reading and Public Hearing

an ordinance to amend chapter vi of the revised general ordinances of the township of mendham to prohibit any person under the legal age to knowlngly possess or knowingly consume an alcoholic beverage on private property without legal authority and providing penalities for the violation thereof

Upon motion duly made and seconded the meeting was opened to the public.  No one present asked to be heard.  Upon motion duly made and seconded the meeting was closed to the public.

Mr. Schrier made a motion to adopt Ordinance 21-2006; Mr. Pierson seconded the motion.

ROLL CALL – Mr. Pierson, Mr. Schrier, Mr. Phelan and Mayor Krieg voted YES.  Ms. Florek voted NO.

2.  Ordinance 24-2006 – Second Reading and Public Hearing

an ordinance to amend chapter ix, personnel, of the mendham township ordinance code

Upon motion duly made and seconded the meeting was opened to the public.  No one present asked to be heard.  Upon motion duly made and seconded the meeting was closed to the public.

 Mr. Schrier made a motion to adopt Ordinance 24-2006; Mr. Phelan seconded the motion.

ROLL CALL – All present voted YES.

3.  Ordinance 25-2006 – Second Reading and Public Hearing

an ordinance amending chapter xii, general definitions, of the mendham township land use ordinance code, to alter the definition of “ accessory building ”

Upon motion duly made and seconded the meeting was opened to the public.  No one present asked to be heard.  Upon motion duly made and seconded the meeting was closed to the public.

Mr. Pierson made a motion to adopt Ordinance 25-2006; Ms. Florek seconded the motion.

ROLL CALL – All present voted YES.

4.  Ordinance 26-2006 – Second Reading and Public Hearing

ordinance amending and supplementing the land use ordinance of the township of mendham to require minor subdivision and minor site plan plats and deeds and final major subdivision and final major site plan plats to depict the allowable percentage of slope disturbance on each lot and parcel comprising the development application

Upon motion duly made and seconded the meeting was opened to the public.  No one present asked to be heard.  Upon motion duly made and seconded the meeting was closed to the public.

Ms. Florek made a motion to adopt Ordinance 26-2006; Mr. Pierson seconded the motion.

ROLL CALL – All present voted YES.

HEARING PERSONS PRESENT

Upon motion duly made and seconded the meeting was opened to the public. 

Mary Judith Kemp, Hilltop Circle :  on behalf of the local Brownie Troop, thanked Ms. Florek for  participating in her Brownie Troop’s recent ceremony.

No others present asked to be heard.  Upon motion duly made and seconded the meeting was closed to the public.

NEW BUSINESS

1.  Ordinance 27-2006 – First Reading

bond ordinance providing for the acquisition of real property located at 87 ironia road in and by the township of mendham, in the county of morris, new jersey, appropriating $950,000 therefor, including $333,000 expected to be received as a contribution from the county of morris, and authorizingthe issuance of $587,000 bonds or notes of the township to finance part of the cost thereof

Mr. Phelan made a motion to adopt Ordinance 27-2006 upon first reading with second reading and public hearing to be scheduled for November 13, 2006; Ms. Florek seconded the motion.

ROLL CALL – Ms. Florek, Mr. Phelan, Mr. Pierson and Mayor Krieg voted YES; Mr. Schrier abstained.

A copy of Ordinance 27-2006 is attached hereto and made a part hereof.

2.  Oak Knoll Homeowners’ Association – Correspondence re speeding.  The noted correspondence was forwarded to Police Chief Costanza and his response to the Township Committee indicated that routine patrols, as well as radar details have been conducted in the Oak Knoll area.  He indicated that six summons were issued in the area since February 2006 to this date.  He also noted that there is no history of accidents in the area.  Chief Costanza said that the wide roads with large grass berms do not conform with the state mandate for a 25 MPH and to lower the current speed limit of 35 MPH would involve County as well as state approvals.   Mr. Phelan asked if residents of the area have received summons for speeding.  Chief Costanza said some of the summons were to residents of the area.  Mr. Schrier noted that the speed limit on E. Main Street was lowered several years ago.  Mayor Krieg will write to the Association and suggest that a representative of the Police Department attend a future meeting of the Association to discuss other options.

3. Resolution R2006-131

RESOLUTION OF THE TOWNSHIP COMMITTEE OF THE TOWNSHIP OF MENDHAM , IN THE COUNTY OF MORRIS , NEW JERSEY , IN SUPPORT OF A-3444/S-2183 REGARDING CAP EXCEPTIONS

                WHEREAS, since their institution in 1977 as part of the package of bills establishing the Property Tax Relief Fund, funded by New Jersey’s first Income Tax, the artificial limits on local budgetary discretion contained in the local government cap law have, repeatedly, proved to be unworkable and in need of amendment in times of fiscal stress; and

                WHEREAS, the latest amendments to the cap law were enacted in 2004 as part of Governor McGreevey’s FAIR Plan, which was supposed to provide short term property tax relief and produce long term property tax reform, the cap amendments being a part of the short term relief component; and

                WHEREAS, those 2004 amendments drastically lowered the cap, eliminated important exceptions to the cap and severely limited the use of “cap banking” which is crucial to municipal intermediate range budgetary planning; and

                WHEREAS, despite the recommendations of the Governor’s Blue Ribbon Property Tax Convention Task Force and despite the energetic efforts of a core of concerned and committed legislators and the outspoken support of a large and growing coalition of citizens’ public interest groups, the Legislature has, to date, failed to advance the cause of property tax reform, continuing decades of inattention to a problem that a majority of our fellow citizens consistently identify as their greatest public policy concern; and

                WHEREAS, instead, State policy makers have consistently under-funded, but and eliminated crucial municipal property tax relief programs, thereby exacerbating the property tax crisis and making it increasingly difficult for municipal budget makers to meet the needs and honor the wishes of local property taxpayers and to deal with current fiscal stresses over which they have no control; and

                WHEREAS, in recognition of these serious issues, legislation has been introduced to provide appropriate flexibility to help local budget makers better meet citizen needs for high quality public programs and services; and

                WHEREAS, in order to do so, the bills (A-3444/S-2184) would:  first, make permanent the temporary cap exception for costs of domestic security preparedness and responses to incidents and threats to domestic security; second, make permanent the temporary cap exception for liability insurance, workers’ compensation insurance and employee group insurance; and finally, provide an exception from the county and municipal local budget cap for appropriations for the costs of goods and services, including wage and salary increases that are required under contracts entered into prior to July 7, 2004, the effective date of P.L. 2004, c. 74, the statute that reduced the local budget cap limits to the lesser of 2.5% or the consumer price index; and

                WHEREAS, while extremely beneficial for rational effective budgetary planning, the “cap banking” problems created by the 2004 amendments will pose lasting and growing problems for municipalities trying to prepare for unanticipated exigencies and immanent needs.

                NOW, THEREFORE, BE IT RESOLVED that the Township Committee of the Township of Mendham does fully support and urge swift and favorable action on A-3444/S-2183; and

                BE IT FURTHER RESOLVED that the Township Committee respectfully requests an amendment to the bill to restore “cap banking” to its previous status, as it existed prior to the 2004 amendments; and

                BE IT FURTHER RESOLVED that copies of this resolution be forwarded to our State Legislative Delegation and to the New Jersey League of Municipalities.

Mr. Pierson made a motion to adopt R2006-131; Ms. Florek seconded the motion.

ROLL CALL – All present voted YES.

4.  Resolution R2006-132

RESOLUTION OF THE TOWNSHIP COMMITTEE OF THE TOWNSHIP OF MENDHAM, IN SUPPORT OF THE MORRIS COUNTY BOARD OF CHOSEN FREEHOLDERS’ OPINION REGARDING THE PHASING IN OF FULL PENSION CONTRIBUTIONS BY GOVERNMENT ENTITIES

            WHEREAS, the State of New Jersey has been phasing in the full pension contributions required of all municipal, county and independent government entities over the past several years; and

            WHEREAS, the Morris County Board of Chosen Freeholders has expressed to the State Treasurer their concern over the 8.25% rate of interest paid on the portion of the phased in contribution not paid each year; and

            WHEREAS,  the Township Committee of the Township of Mendham , is in full agreement with the Morris County Board of Chosen Freeholders, that governments can borrow at rates far below the rate being charged by the State of New Jersey in order to pay off their unpaid obligation.

            NOW, THEREFORE, BE IT RESOLVED, by the Township Committee of the Township of Mendham, that they urge the passing of legislation that would allow government entities to take advantage of opportunities to save taxpayer dollars by providing for lump sum payments of unpaid pension obligations.

            BE IT FURTHER RESOLVED that certified copies of this Resolution be forwarded to the Morris County Legislative Delegation, the State Treasurer of the State of New Jersey and the New Jersey and the Morris County Board of Chosen Freeholders.

Ms. Florek made a motion to adopt R2006-132; Mr. Schrier seconded the motion.

ROLL CALL – All present voted YES.

5. Resolution R2006-133

RESOLUTION OF THE TOWNSHIP COMMITTEE OF THE TOWNSHIP OF MENDHAM , IN THE COUNTY OF MORRIS , NEW JERSEY , AUTHORIZING DISCUSSION WITHOUT THE PRESENCE OF THE PUBLIC

            WHEREAS, it is deemed appropriate that the Township Committee discuss the matters hereafter mentioned without the presence of the public in accordance with the provisions of R.S. 10:412b, being section 7b of the Open Public Meetings Act.

            NOW, THEREFORE, BE IT RESOLVED by the Township Committee of the Township of Mendham , in the County of Morris , New Jersey , as follows:

Matters relating to:

  [x]  personnel / Township Clerk, Tax Assessor

  [x]  litigation / Township v. Keegan

shall be discussed by the Township Committee without the presence of the public.  It is anticipated that these matters can be disclosed to the public when further action is taken in connection with the discussion.

Mr. Phelan made a motion to adopt R2006-133; Mr. Pierson seconded the motion.

ROLL CALL – All present voted YES.

6.  Resolution R2006-134                                                                              

RESOLUTION OF THE TOWNSHIP COMMITTEE OF THE TOWNSHIP OF MENDHAM , IN THE COUNTY OF MORRIS , NEW JERSEY, AUTHORIZING EXECUTION OF THE “RENEWAL” AGREEMENT FOR MEMBERSHIP IN THE MORRIS COUNTY COOPERATIVE PRICING COUNCIL (MCCPC)

            BE IT RESOLVED by the Township Committee of the Township of Mendham , in the County of Morris , New Jersey , as follows:

            This Resolution shall be known and may be cited as the “Renewal” Cooperative Pricing Council Resolution of the Township of Mendham .

            Pursuant to the provisions of N.J.S. 40A:11-11(5), the Township Committee is hereby authorized to enter into a “Renewal” Cooperative Pricing Agreement with the Lead Agency or any other contracting unit within the County of Morris or adjoining counties for the purpose of work, materials and supplies.

            The Lead Agency entering into contracts on behalf of the Township of Mendham shall be responsible for complying with the provisions of the Local Public Contracts Law (N.J.S. 40A:11-1 et seq.) and all other provisions of the revised statutes of the State of New Jersey.

            All resolutions or parts thereof inconsistent with this resolution shall be and the same are hereby repealed.

            This “Renewal” Cooperative Pricing Council Resolution shall be effective October 1, 2006 and such membership shall be for the duration of five (5) years of the “Renewal” Cooperative Pricing Agreement, expiring September 30, 2011, unless the “Lead Agency” and the Division of Local Government Services elects to withdraw.

            This Resolution shall take effect immediately upon final passage and publication according to law.

Mr. Schrier made a motion to adopt R2006-134; Ms. Florek seconded the motion.

ROLL CALL – All present voted YES.

7.  Mr. Schrier said, in the process of running for re-election, he hears about issues and one current one is that there is an interest in more playing fields for the Township.  The Committee  will ask the Recreation Commission to report back with their recommendation regarding the number of fields.

Mr. Phelan said the Township is fortunate to have a Recreation Commission with an interest level of providing for those activities that meet the demands of the residents.  He said he would follow up with the Recreation Commission on this issue.

ADMINISTRATOR REPORT

1.  Mr. Mountain reported that the Planning Board heard the India Brook Park field site plan and will adopt a resolution of approval at their next meeting.  He said the Planning Board had some generic issues regarding an emergency access plan.  It is anticipated that the new field will be constructed in the spring of 2007.

2.  Mr. Mountain said bids for the Emergency Services Building will be received on November 6^th and he expects some good competition.

OPEM ITEMS LIST

The Open Items List was reviewed an updated.

CORRESPONDENCE

1.      State of NJ/Long-Term Care Insurance Plan

2.      NJLM Advisory (14)

3.      County of Morris OEM Workshop 10/26

4.      Governor Corzine/reply

5.      Local Finance Notices 18 & 19

6.      Morris County Park Commission/Deer Management Program

7.      Ten Towns Great Swamp Management Committee / 2007 appropriation

8.      Gregory Czura/MOA / Telecommunications Tower Facility

LEGISLATIVE REPORT

Mr. Pierson pointed out the proposal from the LGCCC to double their fee for organizations that apply for Raffle and Bingo Licenses. He would like the Township to write a letter in opposition to the increase, noting that most organizations that sponsor games of chance are doing so to raise funds for volunteer organizations and shouldn’t be subjected to increased fees. He also noted proposed legislation to prohibit the receipt of bids on Mondays or any day following a holiday and would like a letter from the Township on this issue.  He offered the following Resolution for consideration:

R2006-135

RESOLUTION OF THE TOWNSHIP COMMITTEE OF THE TOWNSHIP OF MENDHAM , IN THE COUNTY OF MORRIS , NEW JERSEY, URGING THE NEW JERSEY ATTORNEY GENERAL AND THE STATE OF NEW JERSEY TO PROVIDE FOR DEFENSE AND INDEMNIFICATION OF MUNICIPAL POLICE OFFICERS AND POLICE DEPARTMENTS VOLUNTARILY SERVING ON STATE AND COUNTY LAW ENFORCEMENT TASK FORCES

            WHEREAS, multiple municipal police departments and police officers throughout New Jersey voluntarily serve on State and County Law Enforcement Task Forces for investigative and prosecutorial purposes; and

            WHEREAS, such voluntary service on Law Enforcement Task Forces provides the State with necessary personnel and manpower for major investigations and criminal prosecutions; and;

            WHEREAS, municipal police departments and police officers voluntarily serving on such Task Forces are not only serving their municipal employers indirectly, but are also directly benefiting the State of New Jersey; and

            WHEREAS, the State of New Jersey is generally required to provide defense and indemnification for County Detectives who serve on Prosecutors’ Task Forces and should also provide the same defense and indemnification to municipal police officers voluntarily serving on such Task Forces; and

            WHEREAS, the New Jersey State Attorney General’s Office has taken the position in pending litigation involving municipal police officers voluntarily serving on a Prosecutor’s Law Enforcement Task Force that the State of New Jersey will not provide a defense or indemnification for the municipal police officers and police departments that had voluntarily served on the Task Force; and

            WHEREAS, the State of New Jersey’s denial of defense and indemnification for municipal police departments and officers serving on such Task forces is contrary to the public interest of the State of New Jersey and is unfair to the municipalities and municipal police officers that voluntarily serve on such Law Enforcement Task Forces.

            NOW, THEREFORE, BE IT RESOLVED by the Township Committee of the Township of Mendham that the Township of Mendham respectfully urges the State of New Jersey and the Attorney General to recognize the need for municipal police departments and officers to voluntarily serve on Law Enforcement Task Forces and that such voluntary service provides the State of New Jersey with necessary personnel and manpower for criminal investigations and prosecutions; and

            BE IT FURTHER RESOLVED that the Township of Mendham respectfully urges the State of New Jersey and the Attorney General to provide defense and indemnification for municipal police departments and officers voluntarily serving on Law Enforcement Task Forces; and

            BE IT FURTHER RESOLVED that the Township Clerk is hereby authorized and directed to forward a copy of this Resolution to Governor Jon S. Corzine, the Attorney General, the Legislative Representatives of the Twenty-Fifth Legislative District, the Freeholders of the County of Morris , Morris County Prosecutor Michael M. Rubbinaccio and the New Jersey Police Chiefs’ Association

Mr. Schrier made a motion to adopt R2006-135; Mr. Pierson seconded the motion.

ROLL CALL – Mr. Pierson, Mr. Schrier, Mr. Phelan and Mayor Krieg voted YES.  Ms. Florek abstained.

HEARING PERSONS PRESENT

Upon motion duly made and seconded the meeting was opened to the public. 

Pat Zimmerman, W. Main Street :  suggested the Committee consider replacing the chairs used by boards and committees in the meeting room as the old ones are too difficult to raise and lower; she also would like to see a new easel for the meeting room.

No others asked to be heard.  Upon motion duly made and seconded the meeting was closed to the public.

Upon motion duly made and seconded the Committee went into closed session at 8:44 p.m.  Mr. Mountain presented his timetable for recruiting a Municipal Clerk and also discussed filling the Tax Assessor position, possibly as a position shared with the Borough.  Mr. Falcon updated the Committee regarding the Keegan litigation.

Upon motion duly made and seconded the Committee returned to open session at 9:09 p.m.

Upon motion duly made and seconded the meeting adjourned at 9:09 p.m

Respectfully submitted:

Penny Newell

Township Clerk

Attachments:

Ordinance 27-2006

Approved Bill List

ORDINANCE 27-2006

BOND ORDINANCE PROVIDING FOR THE ACQUISITION OF REAL PROPERTY LOCATED AT 87 IRONIA ROAD IN AND BY THE TOWNSHIP OF MENDHAM, IN THE COUNTY OF MORRIS, NEW JERSEY, APPROPRIATING $950,000 THEREFOR, INCLUDING $333,000 EXPECTED TO BE RECEIVED AS A CONTRIBUTION FROM THE COUNTY OF MORRIS, AND AUTHORIZING THE ISSUANCE OF $587,000 BONDS OR NOTES OF THE TOWNSHIP TO FINANCE PART OF THE COST THEREOF.

               BE IT ORDAINED BY THE TOWNSHIP COMMITTEE OF THE TOWNSHIP OF MENDHAM, IN THE COUNTY OF MORRIS, NEW JERSEY (not less than two-thirds of all members thereof affirmatively concurring) AS FOLLOWS:

               Section 1.  The improvement described in Section 3 of this bond ordinance is hereby authorized to be undertaken by the Township of Mendham , New Jersey .  For the improvement or purpose described in Section 3, there is hereby appropriated the sum of $950,000, including $333,000 expected to be received as a contribution from the County of Morris and also including the sum of $30,000 as the down payment required by the Local Bond Law.  The down payment is now available from the Open Space Reserve Fund.

               Section 2.  In order to finance the cost of the improvement or purpose not covered by application of the down payment, negotiable bonds are hereby authorized to be issued in the principal amount of $587,000 pursuant to the Local Bond Law.  In anticipation of the issuance of the bonds, negotiable bond anticipation notes are hereby authorized to be issued pursuant to and within the limitations prescribed by the Local Bond Law.

               Section 3.  (a)  The improvement hereby authorized and the purpose for the financing of which the bonds are to be issued is the acquisition of real property constituting approximately 10 acres of the property known as 87 Ironia Road and described on the Township tax map as Block 116, Lot 67 for open space and passive recreation purposes, including all costs necessary therefor or incidental thereto.

                                   (b)  The estimated maximum amount of bonds or notes to be issued for the improvement or purpose is as stated in Section 2 hereof.

                                   (c)  The estimated cost of the improvement or purpose is equal to the amount of the appropriation herein made therefor.

               Section 4.  All bond anticipation notes issued hereunder shall mature at such times as may be determined by the chief financial officer; provided that no note shall mature later than one year from its date.  The notes shall bear interest at such rate or rates and be in such form as may be determined by the chief financial officer.  The chief financial officer shall determine all matters in connection with notes issued pursuant to this ordinance, and the chief financial officer's signature upon the notes shall be conclusive evidence as to all such determinations.  All notes issued hereunder may be renewed from time to time subject to the provisions of the Local Bond Law.  The chief financial officer is hereby authorized to sell part or all of the notes from time to time at public or private sale and to deliver them to the purchasers thereof upon receipt of payment of the purchase price plus accrued interest from their dates to the date of delivery thereof.  The chief financial officer is directed to report in writing to the governing body at the meeting next succeeding the date when any sale or delivery of the notes pursuant to this ordinance is made. Such report must include the amount, the description, the interest rate and the maturity schedule of the notes sold, the price obtained and the name of the purchaser.

              Section 5.  The capital budget of the Township of Mendham is hereby amended to conform with the provisions of this ordinance to the extent of any inconsistency herewith.  The resolution in the form promulgated by the Local Finance Board showing full detail of the amended capital budget and capital program as approved by the Director of the Division of Local Government Services is on file with the Clerk and is available there for public inspection.

              Section 6.  The following additional matters are hereby determined, declared, recited and stated:  (a) The improvement or purpose described in Section 3 of this bond ordinance is not a current expense.  It is an improvement or purpose that the Township may lawfully undertake, and no part of the cost thereof has been or shall be specially assessed on property specially benefited thereby.

                                 (b) The period of usefulness of the improvement or purpose within the limitations of the Local Bond Law, according to the reasonable life thereof computed from the date of the bonds authorized by this ordinance, is 40 years.

                                 (c)  The Supplemental Debt Statement required by the Local Bond Law has been duly prepared and filed in the office of the Clerk, and a complete executed duplicate thereof has been filed in the office of the Director of the Division of Local Government Services in the Department of Community Affairs of the State of New Jersey .  Such statement shows that the gross debt of the Township as defined in the Local Bond Law is increased by the authorization of the bonds and notes provided in this bond ordinance by $587,000, and the obligations authorized herein will be within all debt limitations prescribed by that Law.

                                  (d) No amount for items of expense listed in and permitted under N.J.S.A. 40A:2-20 is included in the estimated cost indicated herein for the purpose or improvement.

                                   (e) Pursuant to N.J.S.A. 40A:12-13 et seq., the Mayor, the Township Administrator, the Chief Financial Officer, the Township Attorney and other appropriate representatives of the Township (the “Township Representatives”) are hereby authorized to acquire the real property described in Section 3 hereof on behalf of the Township, by purchase, gift, condemnation or otherwise.  The Township Representatives are hereby authorized to proceed with the acquisition of such real property through negotiations with the property owner or owners or other organizations or entities that may be involved.  The Mayor of the Township is further authorized to execute the contracts, and the Township Clerk is authorized to attest such execution in forms recommended by the Township Attorney.  The signatures thereon shall provide conclusive evidence that the forms of the contracts have been so approved.  The Township Representatives are authorized to do all things necessary and to execute any such documents as may be reasonably necessary to effectuate the closing, to provide payment for the acquisition and to implement such contracts. 

               Section 7.  Any grant moneys received for the purpose described in Section 3 hereof shall be applied either to direct payment of the cost of the improvement or to payment of the obligations issued pursuant to this ordinance.  The amount of obligations authorized but not issued hereunder shall be reduced to the extent that such funds are so used.

               Section 8. The chief financial officer of the Township is hereby authorized to prepare and to update from time to time as necessary a financial disclosure document to be distributed in connection with the sale of obligations of the Township and to execute such disclosure document on behalf of the Township.  The chief financial officer is further authorized to enter into the appropriate undertaking to provide secondary market disclosure on behalf of the Township pursuant to Rule 15c2-12 of the Securities and Exchange Commission (the “Rule”) for the benefit of holders and beneficial owners of obligations of the Township and to amend such undertaking from time to time in connection with any change in law, or interpretation thereof, provided such undertaking is and continues to be, in the opinion of a nationally recognized bond counsel, consistent with the requirements of the Rule.  In the event that the Township fails to comply with its undertaking, the Township shall not be liable for any monetary damages, and the remedy shall be limited to specific performance of the undertaking.

               Section 9. The full faith and credit of the Township are hereby pledged to the punctual payment of the principal of and the interest on the obligations authorized by this bond ordinance.  The obligations shall be direct, unlimited obligations of the Township, and the Township shall be obligated to levy ad valorem taxes upon all the taxable real property within the Township for the payment of the obligations and the interest thereon without limitation of rate or amount.

               Section 10.  This bond ordinance shall take effect 20 days after the first publication thereof after final adoption, as provided by the Local Bond Law.