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Board adopts second-reading refunding bond ordinance to refinance 2017 energy-savings bonds
Summary
The board approved the second reading of a refunding bond ordinance that provides for refunding all or part of outstanding school energy-savings obligation refunding bonds dated Dec. 20, 2017; the public hearing opened and closed with no speakers.
The Toms River board opened a public hearing on a refunding bond ordinance and, after no public comment, moved to adopt the ordinance on second reading.
The resolution authorizes refunding all or a portion of the district's outstanding school energy-savings obligation refunding bonds dated Dec. 20, 2017. The board opened the hearing for the limited purpose of public comment; none was offered and the board proceeded with the second-reading adoption. A member moved and a second followed; the adoption was approved by roll call vote.
Board members did not discuss policy details on the floor during the adoption; the motion and roll call were treated as a routine financing action to pursue potential interest-rate savings through refunding.
