Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Application to Division of Local Government Services for participation in the Electronic Tax Sale Program
Purpose: To participate in an Electronic Tax Sale
body
WHEREAS, N.J.S.A. 54:5-19.1 authorizes electronic tax sales pursuant to rules and regulations to be promulgated by the Director of the Division of Local Government Services, and
WHEREAS, the Director of the Division of Local Government Services has promulgated rules and regulations for pilot programs, and
WHEREAS, the Director of the Division of Local Government Services has approved NJ Tax Lien Investors/RealAuction.com to conduct pilot programs, and
WHEREAS, the City of Newark desires to submit an application for participation in the pilot program for an Electronic Tax Sale, and
WHEREAS, an Electronic Tax Sale is innovative and provides a greater pool of potential lien buyers, thus creating the environment for a more complete tax sale process, and
WHEREAS, the Administration and Acting Chief Financial Officer deem it necessary and in the best interest of time, volume and expediency with the assistance of the Tax Collector, wishes to conduct an Electronic Accelerated Tax Sale on or before December 31, 2015 with the approval of the Director of the Division of Local Government Services.
NOW, THEREFORE, BE IT RESOLVED, BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY:
1. That the Tax Collector is hereby authorized to complete an application (attached as Exhibit A) to participate in the electronic tax sale program and submit same to the Director of the Division of Local Government Services for its approval.
2. The Tax Collector shall file a copy of the resolution and approval from the Director of the Division of Local Government Services with the Office of the City Clerk.
STATEMENT
This resolution will permit...
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