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Board approves $84.235 million bond sale to fund referendum projects
Summary
The Hopewell Valley Regional School District board unanimously voted to authorize the form and sale of $84,235,000 in tax-exempt school bonds; financial adviser Robbie Acampora told the board bids will open Jan. 22 and projected a 3.85% borrowing rate and investment earnings to offset early tax impact.
The Hopewell Valley Regional School District board on Tuesday approved a resolution authorizing the form and sale of $84,235,000 in tax-exempt school bonds to fund projects approved by voters in last month’s referendum.
Robbie Acampora, financial planner with Phoenix Advisors, told the board the offering will include a 20-year maturity schedule and that the district plans to open bids on January 22 and sell to the lowest bidder. Acampora said recent market moves allowed the district to revise its previously modeled interest rate to about…
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