Montville Administrator Victor Canning announced some good news at Tuesday night’s township committee meeting.
“We have once again received a Triple A bond rating from Standard and Poor’s. There are very few communities in the state of New Jersey that have accomplished that feat,” he said. “The other positive note is because we have such good credit rating, … our CFO was able to get (interest) rates in between 2 and 3 percent, which ... is phenomenal for us for residents and taxpayers of Montville.”
He added that this was made possible “through the financial management of this committee, long before (he) got here … you all deserve a round of applause because this will clearly help the taxpayers of Montville.”
Canning also said in his administrator’s report that the Morris County Board of Chosen Freeholders has adopted a resolution to merge the mosquito commission into the newly formed Department of Planning and public works. The merger will take place at the end of this year.