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Committee notes good-faith deposit in General Obligation Bond 2026 to fund capital projects
Summary
Assistant Township Manager/Director of Finance John D. Bates told the Finance & Administrative Committee that a line item was added for the General Obligation Bond 2026 reflecting a good-faith deposit and bond sale, the first installment of capital-improvement funding; settlement is expected around June 30. The committee unanimously accepted May financial reports.
Assistant Township Manager and Director of Finance John D. Bates told the Finance & Administrative Committee on June 15 that the May financial reports include a newly added line item for the General Obligation Bond 2026, reflecting a good-faith deposit and a bond sale intended to supply the first installment of funding for upcoming capital improvement projects.
Bates told the committee the bond sale’s settlement date is approximately June 30. The committee unanimously accepted the Director of Finance, Tax Enforcement Officers and Investment Activity reports for May 2026, approving the reported items as submitted. The committee did not take further formal action on specific capital projects at this meeting.
