Title
Dept/ Agency: Finance
Action: ( 2017 In Rem Foreclosure ) Ratifying (X) Authorizing ( ) Amending
Purpose: Foreclosure of 877 properties
List of Property:
(Address/Block/Lot/Ward)
PLEASE SEE ATTACHED EXHIBIT A
Additional Information:
Deferred 7R4-b (as) 030117
body
WHEREAS, the City of Newark is currently holding tax sale certificates relating to 877 properties that represent the 2017 Tax Foreclosure List (Exhibit A); and
WHEREAS, in accordance with the In-Rem Tax Foreclosure Act (1948), N.J.S.A. 54:5-104.29, et seq., and the laws amendatory and supplementary thereto for the eligible tax sale certificates, the City of Newark wishes to commence with In-Rem Foreclosure proceedings.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The City of Newark shall commence with In-Rem Foreclosure proceedings, in accordance with the In-Rem Tax Foreclosure Act (1948), N.J.S.A. 54:5-104.29, et seq., and the laws amendatory and supplementary thereto and pursuant to the Rules governing Civil Practice in the Courts of the State of New Jersey for the eligible tax sale certificates held by it and the relating property, as listed on the 2017 Tax Foreclosure List (Exhibit A) appended hereto and made a part hereof. In the event that there are federal liens on the property, the City may foreclose in personam with a sheriff's sale to remove any federal liens.
2. The Tax Collector shall perform all work necessary to allow the City to foreclose the Tax Sale Certificates for the 877 properties, identified on the 2017 Tax Foreclosure List (Exhibit A) and certified to by the Tax Collector, and the redeeming party shall pay the statutory amount to redeem including all allowable fees and costs authorized by statute, court rule and/or regulation.
3. The amount to redeem does not include the 2017 2nd half billing, and the interest is calculated to December 29, 2016, t...
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