TRENTON, N.J. – A new fire engine can cost more than $1 million and a new garbage truck can be $300,000 or more. Assemblyman Michael Torrissi’s bill that cleared the Assembly State and Local Government Committee on Monday will make financing those purchases easier by extending the length of bonds that counties and municipalities use to buy public safety equipment and other vehicles.
“Residents rely on trash and snow removal, road maintenance and emergency responders and if there is a breakdown in equipment, towns need to be able to replace it as soon as possible,” Torrissi (R-Burlington) said. “Municipalities and counties are also facing inflation and financial constraints, but need to make large purchases to continue to provide necessary services and protect public safety. This bill provides a little more financing flexibility under the bond law so that the equipment and vehicles they need to do their jobs can be purchased.”
Under the measure (A5567), counties and municipalities can issue 20-year bonds for the purchase of fire engines and related equipment, up from 10 years, and 10-year bonds for trucks that weigh more than 15,000 pounds, like garbage trucks, increased from five years. It also removes the bonding exemption for gas-powered passenger cars and station wagons, allowing those vehicles to be bonded for five years.
Additionally, the useful life of public works vehicles will be extended if they undergo major repairs or reconditioning. The law currently only covers fire engines, ambulances and public safety vehicles.
“Certain vehicles and equipment are essential to preserving life and property. Making it easier for towns and counties to maintain those vehicles for longer and replace them when the time comes, contributes to the quality of life in New Jersey,” Torrissi said.