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Finance committee outlines bond refunding, change orders and referendum testing; board approves consent items
Summary
Finance and facilities committee reported callable 2016 bonds potentially to be refunded, IBNR claims requiring transfers, electrical change orders at DDES and environmental testing for referendum work; the board approved the committee's consent items by roll call.
The Freehold Township School District finance, facilities and transportation committee reported on multiple items the board will consider as the district prepares for construction and the fiscal year.
Committee members said bonds issued in 2016 are callable this fall and that the district will begin a refunding process if net present value savings meet state thresholds; a public hearing on a refunding bond ordinance was scheduled for Sept. 30. The committee identified professional costs associated with a refunding and the firms Willens and Phoenix were named as…
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