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Board hears finance committee report: April bond sale awarded at about 3.77%
Summary
The district's finance committee reported that four conforming bids were received on April 30 and Raymond James & Associates was the low true interest cost bidder at approximately 3.77%; the committee previewed resolutions to hire special bond counsel (not to exceed $20,000) and discussed a CMS roof change order and an audit corrective action plan.
The Berkeley Heights Board of Education received a finance and facilities committee report that the district's April 30 bond sale produced a favorable financing result.
"The remaining compliant bids were evaluated resulting in a successful award to Raymond James and Associates as the lowest true interest cost bidder at approximately 3.77%, ensuring the district achieved the most favorable financing outcome," a committee representative reported.
Committee members said the 3.77 percent…
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