Tag: Cap bank ordinance

Bill Would Eliminate Five Percent Down Payment for Bond Ordinances

NJ Court Rules “Cap Bank” Ordinance Not Subject to Referendum

A New Jersey trial court recently held that the City of Wildwood’s “cap bank” ordinance, which allows the municipality to bank and utilize permitted appropriations in future years, is not subject to referendum. The case is Baltuskonis v. City of Wildwood.  The Facts of the Case In 2014, the Wildwood