Jersey City Council approves $7.5 million retirement bonding, Osborne/Yun not happy

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An ordinance approving emergency bonding worth $7.5 million to pay for contractually required severance liabilities resulting from the retirement of city employees was unanimously approved by the Jersey City Council.

[fve]https://www.youtube.com/watch?v=OjTu20xtrQ4&feature=youtu.be[/fve]

Ward D Councilman Michael Yun made it clear he wasn’t happy to continue the practice of borrowing to pay for retirement costs, citing Mayor Fulop’s opposition as Ward E Councilman to the questionable budgeting practice.

Ward E Councilwoman Candice Osborne, who wasn’t happy to vote Yes either, once again brought up overtime costs in the municipal budget which she claimed used money set aside for potential retirement payments.