Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Refund interest and cost due to outside buyers of tax liens
Amount of Refund: $5,545.45
Tax Sale Date(s): 12/12/08,11/10/11,11/14/07
List of Property:
(Address/Block/Lot/Ward/Outside Buyer/Amount/ Tax Sale Date)
513-515 Avon Ave./2640/31/West/LIENLOGIC/$4,337.39/12/12/08
120-122 Ferry St/174/46/East/AMACO/$174.08/11/10/11
166-168 Leslie St./3065/19/South/MACWCP II,LLC/$1,033.98/11/14/07
Additional Information:
body
Whereas, audit of the books and records in the Office of the Tax Collector, from the November 2011 Municipal Tax Sale and prior; and
WHEREAS, the results of said audit require refunds and payments to the following outside buyers:
Outside Buyer B/L Address Tax Sale Date Amt. of Interest
LIENLOGIC 2640/31 513-515 Avon Ave. 12/12/08 $4,337.39
AMACO 174/46 120-122 Ferry St. 11/10/11 $ 174.08
MACWCP II, LLC 3065/19 166-168 Leslie St. 11/14/07 $1,033.98
TOTAL $5,545.45
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The Director of Finance be and is hereby authorized to refund the Outside Buyers on the annexed exhibit (which is hereby incorporated by reference) the interest and cost of the listed Tax Lien from the November 2011 Tax Sale and prior.
2. The Director of Finance is further authorized to pay the interest and cost due
to said Outside Buyers; pursuant to N.J.S.A. 54:5-60 and 61, in the total amount of $5,545.45.
3. The interest and cost amount will be withdrawn from account #011-21-2101-9537.
STATEMENT
Resolution authorizing the refund of interest and cost due Outside Buyers who participated in the November 2011 Tax Sale and prior in the total amount of $5,545.45.