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New Brunswick Parking Authority to seek approval to refinance up to $180 million in bonds
Summary
At a special meeting, the New Brunswick Parking Authority authorized submitting an application to the Local Finance Board to refinance outstanding 2016 parking revenue bonds, not to exceed $160 million tax-exempt and $20 million taxable; the taxable portion reflects private use of the wellness garage.
At a special meeting called to order at New Brunswick City Hall, the New Brunswick Parking Authority voted to move forward with an application to the Local Finance Board to refinance outstanding 2016 parking revenue bonds.
Authority staff described the request as an application related to “city-guaranteed parking revenue refunding bonds” intended to refinance certain outstanding 2016 bonds, capped at $160 million in…
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