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Board opens bond-refunding hearing, approves finance consent package and accepts $255,360 in donations
Summary
The board opened and closed the public hearing on a proposed 2016 bond refunding with no public comment, reviewed a projected $950,000–$957,000 net savings and approved finance consent items including bills of $4,994,604.87 and Freehold Township Education Foundation donations totaling $255,360 for school technology.
Robert Davita, the school business administrator and board secretary, certified the district's fiscal status as of Aug. 31, 2025, and summarized a proposed seven-year bond refunding the district plans to pursue. Davita said the refunding would lower the interest rate on callable bonds, with a projected net present-value savings "about $950,000" (the transcript references roughly $950,000 to $957,000) and an issuance not to exceed $13,700,000; the sale was projected for Nov. 5 with a Nov. 20 closing and debt-service payments in February and August over seven years.
The presiding officer opened the statutorily required public hearing on the 2016 refunding school bonds, offered the floor for comment and — seeing no speakers — closed the hearing. The finance committee reported other items including an environmental insurance renewal issue after a mold incident, referendum construction planning (project labor agreement discussion) and transportation improvements including student bus-scanning to track boarding.
On consent, the board approved the secretary/treasurer's report and bills and claims of $4,994,604.87; it accepted donations from PTO groups (Applegate PTO $1,000; Laura Donovan PTO $17,248; Westfield School PTO $5,768 and a $1,904 carryover) and accepted two gifts from the Freehold Township Education Foundation: $210,000 from the estate of Carolyn S. Duckett to fund interactive view boards and mobile carts at Clifton T. Buckler Middle School, and $45,360 to fund ViewBoards and mobile carts at Dwight D. Eisenhower Middle School. Finance items, contracts and transfers were moved and approved by voice vote.
