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Council introduces $16.1M in bonds for townwide solar project amid resident questions on guarantees and federal credits
Summary
Council introduced two bond ordinances totaling $11.5M and $4.6M to fund an energy-savings improvement program (ESIP) that administrators say is budget-neutral if a federal tax incentive is preserved. Residents asked about the guarantee, contractor choice, and contingency plans if the federal credit is unavailable.
Monroe Township introduced two bond ordinances Sept. 3 to finance a proposed $15M-$16M energy-savings improvement program (ESIP) that relies on solar and energy-conservation work.
Clerk read an energy-savings-obligation refunding bond ordinance for up to $11,500,000 and a separate ordinance authorizing $4,600,000 in bonds or notes. The ordinances passed on first reading; administrators said the measures will return for second reading and final adoption on Nov. 5 after a local finance board review in October.
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