* business „

"How I radvcad my food b« with Lawn Doctoc" i "•» good loo»>rq n»r n«ti doo- ' ••id •** Nj«. lo»n Doctor . H w Sp«-niJ Sgflwiw and foil -•"> P'OVli.-u'VJl C0'« and (utlon ■cwifcnqt Aod !t*y • OV <•»! rhon borfcbrool rxj do *1 yCH<«wH Ahc.lirtly bog o> l«M if< and <olM H.,» I n- .«•<• tod <0« leu And N- unleep -n the haiomwl Hemnwundid fcylniMi) f ~huM~»DOCfO*\ ' Cn\ Spring special i i ^$10 OFF | ;/ I J.WVAl. PRICK • i~CAU 465-3700 \ * LAWN DOCTOR Of ■ | CAP! RUY COUNH BUSINESS DIRECTORY AUTO DEALERS N gff 3 GREAT CARS UNDER 1 BURKE ROOF 0LDSM0BILE* CHEVROLET CADILLAC SALES-SERVICE PARTS 522 1475 . CLEANERS A LAUNPEREBS nPr CLEANERS & LAUNDERERS EXPERT TAILORING SUEDE A LEATHER CARE

r^i M SURF SHOP Wi TA 2160 Dune Drive [A M Box 10. Avalon. W \1 New Jersey 08202 fjJ M Phone 609967-3189 M \ La Don't be L4 M Left behind N * W <, this season!!! P M Featuring: rJ In j

Borrowings Overlap; County Makes Profit

By JOE ZEl.NIK Here's further proof thai it takes money to make money. Through a perfectly legal sleight of hand, the county has had an extra $19 million for two weeks and sharp investing by the treasurer's office will bring in about $43,000 in interest income. The county on March 25 issued $19 million in general improvement bonds, which Piatt's Has New Outlet SOMERS POINT - Reflecting Piatt's Fur niture's confidence in the growth of Cape May County. Piatt's opened a newstore in the Village Shoppes of Rio Grande April 1 The addition of the second Piatt's Furniture store was made possible by Piatt's new 26.000-square-foot warehouse facility, completed in 1985 on Chestnut Street here Piatt's Furniture's newstore operates on the same principles as their Somers Point store on MacArthur Boulevard Both stores display fashion furniture with a "Jersey Shore' look I'l.ATT'S Furniture is a family -owned corporation in its fourth generation of ownership Dave and Celeste Piatt Jr and Dave Piatt III now own the corporation. In 1984 the entire operation was computerized. helping to pave the way for Piatt's current expansion. According to Dave Piatt J Jr.. the growth of Piatt's Furniture has been directly attributable to customer service and. just as important. the well-being, loyalty and professionalism of Piatt's Furniture employees

is a fancy way of saying it borrowed that amount, for 10 years at 6.2 percent interest. THE MONEY will be used as follows: • New Crest Haven nursing home, $8.8 million. • Courts facilities renovations. $6 million. • Road, bridge and storm sewer construction. $2.6 million. • Acquisition of Social Services Building in Rio Grande, $1.1 million. • New Upper Cape branch of county library ih Upper Township. $500,000. But this borrowing overlapped with a bond anticipation note < a prior borrowing for most of the same projects) for $15.5 million dating back to October of 1984. First there was a 12-month borrowing at 7.27 percent. Last October it was reborrowed for six months at 5.49 percent. NONE OF THAT money having been needed yet. it gets paid back today, after sitting in financial institutions earning the county money for the last 18 months But for the last two weeks, because of the overlap, the county has had a whopping S48 million invested and earning between 7 and 7.65 percent interest (depending on length of investment > After today, the amount drops back down to about $:to million Borrowing at 6.2 percent by issuing tax-exempt bonds and reinvesting at 7.25 per cent is a pretty nifty way to

make a couple bucks. It helped the county net $1.7 million in interest in 1984. and $2.5 million last year. BUT THE IRS makes sure the tactic isn't abused, in which case it is -"arbitrage" (profiting from reinvesting). Eric Wisler of Kraft & Hughes, the county's Newark bond counsel, told this newspaper that IRS permits government to invest the proceeds of a taxexempt bond issue for three years. The county's initial borrowing for "these projects won't be three years old until October of 1987. by which time much of the money presumably will have been spent. Besides, said Wisler. "you can go beyond three years if something happens beyond your control to preclude getting done in three years."

| , ■ 11 M n : M.II-. ■ -.1' -n. If i.f >;• c' / This year we're pledged to finding more Americans U&D BLOCK the biggest tax refund ^ I they have coming. What where wore Americans can we find for you? kind a bigger refund Mon.-Sal. 9-6 104 South Main St. Evenings By Appt Cape May Court House 465-3272 4201 Pacific Ave. MosaiF<U9"9 Wildwood 522-2537 (Now Location) tUUI Bay Shore Road P North Cape May Shopping Ctr. Sun By Appointment NORTH CAPE MAY 886-7639 — H»R BLOCK aa 1 where more americans find a bigger refund. 1 : —

\ . . « (Quaker lllairl mII'etsB „ 40^1 Professional Design Service lor Kitchens CAPE :! MAY F moui Brand Ma/or I And Baths ImJ Appliances • VANITIES • C0UNTERT0PS Oil* . ^V^cent JUfy* shopmon FRI I FREE DELIVERY HHi 'By Appointment Anytimei

I owe it all to The Cape. Make yourself more comfortable at home with a Home Improvement Loan tn)m Tie Capc. fl Ih— ] dSm TWB Set a new course with 'THE CAPE. R c«L mn county mm i u~i A full family finance cenier H Main Oft tea: 225 N MaiqSt . Capa May Court Hou»« 405-5800 J Branch Offtcaa: 217 JactafenS!. Capa May $84-0900 • 3301 Atlantic Avanua W.ldwood 522-244. • <899 Bayshoro Road. Villas 80O-2773«~"-*Q SShore Road. Marmora 390-3500 • 301 AsOury Avanua. Ocaan City A Fl 390-7400 »RtS 9 and 47. RioGranOa 888-9800