Concerns local government financing and acquisition of fire fighting apparatus and equipment.**
What changed between versions
Lease-purchase is now added as a recognized acquisition method for fire fighting apparatus and equipment, alongside purchase and lease, in both the synopsis and the useful life provision (20 years).
The short title was updated to reference 'and lease-purchasing' and to note that the act supplements chapter 2 of Title 40A, with a cross-reference to P.L.1981, c.188.
The requirement that local governing bodies ensure all fire vehicles and apparatus adhere to NFPA Standard 1911 for inspection, maintenance, testing, and retirement was struck from the bill.
The provision requiring the Commissioner of Community Affairs, in consultation with the Division of Fire Safety Director, to adopt rules and regulations to effectuate the bill was struck.
A new section amends P.L.1981, c.188 (C.40A:14-86.1) to extend the maximum maturity period for fire district bond anticipation notes from three years to ten years, allowing renewals beyond the first anniversary if at least the first legally payable installment of the anticipated bonds is paid and retired on or before the second anniversary.
A new provision clarifies that funds derived from the issuance of fire district bonds may be used to redeem notes issued in anticipation of the bond issue.
