Area December 19, 2012 THE VILLADOM TIMES III • Page 3 The Borough of Waldwick, one of the six original members of the Northwest Bergen County Utilities Authority, is spearheading an effort to reclaim for the six towns moneys paid into the authority’s debt service reserve. The reserve was put in place when the authority was created in 1965 as security so that the Waldwick treatment plant could be constructed. Waldwick officials said the other five municipalities – Allendale, Ho-Ho-Kus, Midland Park, Ramsey and the Township of Wyckoff, have indicated support for the effort and are hopeful that the NWBUA commissioners will heed the original members’ request. Last week the Waldwick borough council adopted a resolution opposing the authority’s intended use of that reserve fund and demanding that the moneys be returned to the six original municipalities. “We want to reclaim those funds for our use as we see fit rather than they use our money,” said Waldwick Councilman Frank Palladino, the council’s representative to the NWBUA. The authority plans to use some the moneys to fund Original NWBUA towns want their reserve funds back current capital improvements and to utilize other portions of these funds to offset future rate increases. The moneys accrued total more than $8 million, according to Waldwick Borough Administrator Gary Kratz. “Over the next three years the entire proceeds of that debt service reserve of eight million plus will no longer become necessary for the purpose that it was pledged,” Kratz said, as the bonds have or will be maturing. “If this concept is adopted by the Authority, municipalities other than the original funding communities will benefit from this action without their having contributed to the establishment of this reserve,” the resolution points out. The current members, in addition to the six original towns, are Franklin Lakes, Mahwah, Ridgewood (portions), Saddle River and Upper Saddle River. “The authority’s plan to utilize those funds penalizes the municipalities that provided the source of that money,” Kratz said. The utilities authority’s 2013 operating budget includes a $2,962,535 transfer from the debt service reserve “to be used to fund capital projects ($850,000) and to support a 2 percent reduction in annual charges to members ($274,571). In addition $1,598,983 will be reserved to stabilize future municipal service charges. The balance will be utilized to offset decreases from other revenues sources.” The resolution asks that the unencumbered debt service reserve funds be returned directly to only those communities that contributed based upon each community’s level of contribution. “That would allow the municipalities to determine the appropriate use of the funds and future rate increases would be dealt with through the existing formula in place. In that way no original municipality gets penalized or any receive a benefit that is undeserved,” Kratz said. The Waldwick Council last month authorized Kratz and Borough Attorney Craig Bossong to pursue the council’s concern about the disproportionate distribution of the funds with bond counsel and the NWBUA’s auditor. “I think we have the commissioners’ ear on the subject,” Bossong told the council. The Ho-Ho-Kus Chamber of Commerce has announced that, thanks to Robert Abbott of Abbott & Caserta Realtors, the Borough of Ho-Ho-Kus has given permission for local businesses and their employees to park in the lower commuter parking lot at the Ho-Ho-Kus Train Station - for free - through Jan. 1, 2013. This option will free up parking spaces for shoppers and diners closer to these business. Each employee vehicle must have a permit placed on the car’s dashboard. Employees must park in the spaces closest to the VFW Hall (the east side of the lot). These are the assigned spaces. Up to 20 spaces are available, but the Parking option available in Ho-Ho-Kus borough will consider more if they are needed and if space is available. Spaces will be available on a “first come, first served” basis. If a car does not have a permit on its dashboard, or if it is parked elsewhere in the lot (without paying), the HoHo-Kus police will issue a parking ticket. The Chamber is not responsible for its members’ parking. To obtain an e-mail with a printable parking permit, or for any additional information, contact Chamber President Steve Sager at steven@stonegatecommunications.com.