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File #: 16-0905    Version: 1 Name: Resolution to Participate in the 2016 Electronic Tax Sale Pilot program
Type: Resolution Status: Adopted
File created: 5/23/2016 In control: Finance
On agenda: 6/15/2016 Final action: 6/15/2016
Title: Dept/ Agency: Finance Action: ( ) Ratifying (X) Authorizing ( ) Amending Purpose: Application to Division of Local Government Services for participation in the Electronic Tax Sale Pilot Program Name of Project(s): Electronic Standard and Accelerated Tax Sale Amount to be Financed: $0.00 Funding Source: Not Applicable Local Finance Board meeting date(s): July 13, 2016 Project Information: (Description/ Project No./ Amount Appropriated/Ordinance No.) To participate in an Electronic Standard and Accelerated Tax Sale Pilot Program Additional Information: The City previously participated in an Electronic Tax Sale Pilot Program in 2015
Sponsors: Council of the Whole
Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Application to Division of Local Government Services for participation in the Electronic Tax Sale Pilot Program
Name of Project(s): Electronic Standard and Accelerated Tax Sale
Amount to be Financed: $0.00
Funding Source: Not Applicable
Local Finance Board meeting date(s): July 13, 2016
Project Information:
(Description/ Project No./ Amount Appropriated/Ordinance No.)
To participate in an Electronic Standard and Accelerated Tax Sale Pilot Program
Additional Information:
The City previously participated in an Electronic Tax Sale Pilot Program in 2015
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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 the 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 Standard Tax Sale tentatively scheduled September 26, 2016 and an Electronic Accelerated Tax Sale on or before December 31, 2016 with the approval of the Director of the Division of Local Government Services.

NOW, THEREFORE, BE IT RESOLVED, BY THE MUNICIPAL COUNCIL ...

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