May 1, 2009

Council gives OK to VMEU bonds

From staff reports

VINELAND -- City Council gave its final approval Tuesday to authorize issuing $60 million in bonds that will help cover the cost of a new generator for the city's electric utility.

City voters approved a referendum in November giving the Vineland Municipal Electric Utility the go-ahead to build a 60-megawatt simple cycle turbine at the H.M. Down Station on West Avenue.

VMEU Director Joe Isabella said the council's approval is the permission the utility needs to move forward with the project.

The approval doesn't mean the utility will act immediately, especially with the state of the economy, Isabella said, but they have the permission to advance when the time is right.

"It sends the message that we have the funding, we're serious and we want serious bids," Isabella said.