Schools
Howell School District To introduce $10M Bond Measure
Bond would refinance old debt, administration says
The Howell Township School District at Wednesday’s meeting is set to introduce a measure that would refinance a portion of a $19 million bond ordinance issued in 2005.
The board is set to introduce a $10 million bond ordinance, which includes refinancing $7.95 million of the original $19 million bond ordinance it adopted in 2005.
Ron Sanasac, district business administrator, said the measure to be introduced Wednesday would refinance a portion of the old debt. The bond ordinance for introduction is not new debt, Sanasac said.
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Sanasac said by refinancing at today’s lower rates would save the district at least 3 percent on the payment stream.
A public hearing on the refinancing is scheduled for May 1.
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The Board of Education is slated to meet at 8 p.m. at the Howell Township Middle School North, 501 Squankum-Yellowbrook Rd.
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