Standard & Poor’s differs from Moody’s on Cap 2.0
A month after Moody’s Investor Service downgraded Westfield’s bond credit rating, citing New Jersey’s new property tax cap law, it raised the general obligation (GO) debt rating for another town from A+ to AA-.
Since the passage of New Jersey’s Cap 2.0 law in July, municipalities throughout the state, including Secaucus, have wondered how it might affect their credit ratings.
In a compromise deal between Gov. Christopher Christie and the Democratically-controlled state legislature in Trenton, beginning next year property tax increases will be capped at two percent unless voters approve a larger tax increase. The law was at least partially responsible for recent credit downgrades of Westfield and North Haledon.
But at least one municipality, Cape May, has apparently bucked the trend.
On Sept. 27, Standard & Poor’s Ratings Services raised Cape May’s GO debt rating score, noting in a release that “the rating reflects our view of the city’s mature coastal community, with a large vacation home component and a tourism – and service-based local economy; adequate income levels, coupled with extremely strong market value per capita; strong reserve levels; and low debt burden as a percentage of market value coupled with limited future capital needs.”
Oktoberfest, K of C Style
Take a night off and try some great German food and desert. The Secaucus Knights of Columbus will hold their annual Oktoberfest on Sat., Oct. 9 at 6:30 p.m. in the Immaculate Conception Church auditorium. Tickets are $30 a person, and are selling quickly. The deadline to order is Mon., Oct. 4. No tickets will be sold at the door! For more information, contact Neal at (201) 223-7967 or mcgarritye@aol.com. Immaculate Conception Church, 1219 Paterson Plank Rd., Secaucus.
Course teaches birding for beginners
On two different days in October, the Bergen County Audubon Society and Teaneck Creek Conservancy will present a course in bird watching. Hudson County residents are encouraged to attend and discover how to identify birds, find out which optics are the best to use for birding, and learn how to use a field guide.
The course will be held on Oct. 5 and Oct. 17 from 9:30 a.m. to 11:30 a.m. at Teaneck Creek Conservancy, 20 Puffin Way in Teaneck. The course is free for everyone. For more information contact Don Torino at (201) 636-4022 or e-mail greatauk4@aol.com.
CASA looking for volunteers
Interested in helping children in foster care? If so, Hudson County CASA (Court Appointed Special Advocate) is currently recruiting volunteers to be advocates for abused and neglected children.
Hudson County has over 750 children in foster care, most of whom have been removed from their homes for abuse or neglect. CASA works through trained community volunteers to ensure that needed services and assistance are made available to children as they transition into permanent homes. CASA volunteers speak for children in court, serve as fact finders for the judges, and safeguard the interests of the children while they are in the foster care system.
Information sessions regarding the program and the role of CASA volunteers will be held on Tuesday, Oct. 5 from 6 p.m. to 7 p.m. at 595 Newark Ave., Room 901, in Jersey City.
For additional information, call (201) 795-9855, e-mail mveenhof@hudsoncountycasa.org, or visit www.hudsoncountycasa.org.
Secaucus job fair is Oct. 8
The Town of Secaucus will hold its first ever job fair on Friday, Oct. 8 from 9:00 a.m. to 1 p.m. at the Secaucus Public Library and Business Resource Center. The fair will be held in the Panasonic Room. For more information, call (201) 330-2016.