§ 75-1. Findings.

A. 

The Borough Council of the Borough of Netcong (hereinafter "Council") authorized a study and the development of special plans and specifications relating to the creation of a special improvement district and the Council finds as follows:

(1) 

That the reports and recommendations submitted and dated November 1, 2001, concludes that an area within the Borough of Netcong, as shall be described hereinafter by lot and block numbers as well as by street addresses, would benefit from being designated as a special improvement district; and

(2) 

That a District Management Corporation would assist the Borough in promoting economic growth and employment within the business district by providing administrative and other services to benefit the businesses, employees, residents and consumers in the special improvement district; and

(3) 

That a special assessment shall be imposed and collected by the Borough of Netcong with the regular property tax payment or payment in lieu of taxes or otherwise and that such special assessment shall be transferred to the District Management Corporation to exercise the powers given it by this chapter and to effectuate the purposes of N.J.S.A. 40:56-65 et seq.; and

(4) 

That it is in the best interests of the Borough of Netcong and the public to create such special improvement district and to designate such District Management Corporation, except that no District Management Corporation shall be designated to receive any funds or to exercise any powers, unless the Board of Directors of that Corporation shall include at least one member of the Council.

B. 

The public policy of the State of New Jersey permits this governing body to protect the public welfare and health and the interests of the public in the safe and effective movement of persons and to preserve and enhance the function and appearance of the business districts of the Borough of Netcong and adoption of a Special Improvement Ordinance.