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Highlands council adopts resolution to issue up to $12,056,592 in bonds, consolidate sewer projects with NJ Infrastructure Bank loans
Summary
The council adopted R26-67 to issue up to $12,056,592 in general obligation bonds and approved companion loan agreements (R26-68) with the New Jersey Infrastructure Bank; staff explained the measure consolidates existing sewer projects and will create debt-service obligations to the I-Bank.
The Borough of Highlands council voted Feb. 18 to adopt Resolution R26-67, authorizing the form and details of general obligation bonds not to exceed $12,056,592 and providing for their sale to the New Jersey Infrastructure Bank under the state’s 2026 Water Bank program. The council also adopted the companion resolution R26-68 authorizing loan and escrow agreements with the New Jersey Infrastructure Bank and the New Jersey…
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