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Monroe Council approves $11.5M refunding bond and companion financing for township energy-savings project
Summary
The Monroe Township Council adopted two bond ordinances on Nov. 20 to fund a township energy‑savings and solar program, approving an $11.5 million refunding bond (O092025-022) and a companion $4.6 million bond (O092025-023).
The Monroe Township Council adopted an energy savings obligation refunding bond ordinance (O092025-022) and a companion bond ordinance (O092025-023) to fund a township energy‑savings improvement program, council members said at the Nov. 20 meeting.
The laws appropriated $11,500,000 (O092025-022) and $4,600,000 (O092025-023) to finance equipment, solar installations, lighting, building-envelope improvements and related soft costs. Council President Miriam Cohen said the two ordinances together will fund the design‑build project and the town has received outside technical and finance reviews as part of the local‑finance process.
Why it matters: Town staff and the vendor said the project produces long‑term utility savings and allows Monroe to capture a time‑limited federal incentive the…
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