Princeton Council Approves $243K For Armored Car Services

PRINCETON, NJ – During this week’s meeting, Council unanimously approved a resolution authorizing a contract for armored car services.

Council adopted a resolution extending the contract of Eastern Armored Services, Inc. for two more years for an amount not to exceed $243,072.00.

The resolution was up for consideration at a previous council meeting but had to be pulled as many residents were concerned that the only money being transported was that from the municipality's meters.

Council then asked Municipal staff to research the matter further.

A study conducted within the municipal buildings showed that over a million dollars was being transported by the armored car company to banks on a regular basis.

“Obviously, those amounts of money are not something we are throwing in the back of a municipal vehicle and have an employee take to a bank,” Mayor Mark Freda said.

“So, once further research was done by the staff, it was quite apparent that there is a significant need for these services.”

In December 2022, the Council awarded a bid contract to Eastern Armored Services, Inc. for 2023-2024.

The resolution extends this contract by another two years – until December 2026.

“The contract amount for the extension shall not exceed $121,536.00 each calendar year for a total not to exceed the amount of $243,072.00,” according to the resolution.

Princeton’s Chief Financial Officer has certified that sufficient funds are available to pay for the services.

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