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Board approves refunding of 2016 school bonds; district projects roughly $957,000 in net present‑value savings
Summary
The board approved a resolution to refund callable 2016 school bonds, authorizing issuance not to exceed $13.7 million, with a projected net present‑value savings of about $957,000 and a planned sale date in early November.
The Freehold Township Board of Education voted to approve a resolution to refund callable school bonds originally issued in 2016, the district’s school business administrator said during the meeting.
School business administrator Ira Appetavita told the board the refunding was required by law when net present‑value savings reach the typical 3% threshold and said the district expects…
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