Marlboro board to move forward on referendum; financing timeline set for notes sale

Voters approved a school facilities referendum by about two to one, and the Marlboro Township Board of Education moved Tuesday to begin the next steps needed to finance the work, including authorizing the competitive sale of notes.

Mr. Malone, speaking for district leadership, summarized the election returns and the district’s early priorities, saying the community delivered “8,000 yes votes and 4,000 no votes.” The board approved the business and finance slate that included a resolution authorizing the sale of notes to finance the facilities project.

Board Secretary and business administrator Mr. Caravella outlined the financing calendar: a ratings request will be submitted immediately; a rating conference call is scheduled for Nov. 24; the district expects to receive a rating Dec. 3, conduct a competitive sale Dec. 11, hold a pre‑closing Dec. 22 and close Dec. 23. Caravella said the district expects to take out a short‑term bridge loan until capital reserve and budgeted funds are available to pay construction costs.

The board’s vote on the financial slate was a roll call with all members present voting in favor, clearing the way to begin contracting and move ahead with air‑conditioning installations. Board members emphasized that individual project timelines and contractor selections will be reported back to the board as the procurement process proceeds.

Board leaders also reminded the public that Robertsville and Asher elementary schools are scheduled to be the final campuses in the district to receive air‑conditioning under the approved scope, and that community engagement and contractor oversight will continue to be priorities.

The district will post procurement milestones and final contract awards on its website and return to the board with spending updates as the sale of notes is completed and projects are bid.