[HISTORY: Adopted by the Borough Council of the Borough of Pennington 8-13-1999
by Ord. No. 99-9 and approved at referendum. Amendments noted
where applicable.]
A. A Length of Service Awards Program (LOSAP) is herewith
created in accordance with Chapter 388 of the Laws of 1997, to reward members
of the Pennington First Aid Squad for their loyal, diligent and devoted services
to the residents of Pennington Borough.
B. The LOSAP shall provide for fixed annual contributions
to a deferred income account for each volunteer member that meets the criteria
set forth below; such contributions shall be made in accordance with a plan
that shall be established by the Borough of Pennington pursuant to P.L. 1997,
c. 388; and such plan shall be administered in accordance with the laws of
the State of New Jersey, the U.S. Internal Revenue Code and this chapter.
C. The LOSAP shall provide for annual contributions to each
eligible member that meets the criteria as contained in Schedule A attached.
D. The estimated cost of the program has been calculated
as follows:
(1) For regular annual services: $32,700, to be funded as
follows:
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Hopewell Township
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75%
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$24,525
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Pennington Borough
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25%
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$8,175
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E. Each active volunteer member shall be credited with points
for volunteer services provided to the Pennington First Aid Squad in accordance
with Schedule B attached.
F. This chapter shall not take effect unless it is approved
by voters as a public question at the next general election.
The following question shall be placed on the official ballot of the
Borough of Pennington at the next general election:
"Shall the Borough Council of the Borough of Pennington be authorized
to establish a Length of Service Awards Program for the Pennington First Aid
Squad members that serve the Borough of Pennington, pursuant to the following
terms and conditions:
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1.
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The program shall provide for annual contributions to a deferred income
account for each active volunteer member that meets the eligibility criteria
and in accordance with the schedule adopted by the Pennington Borough Council.
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2.
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The proposed minimum annual contribution for an active volunteer member
is $550, and the maximum is $1,150.
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3.
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The estimated cost of the program has been calculated as follows: For
regular annual services: $8,175.
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YES
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NO"
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