Vote Expected On Bond Refinance

The Howell Township School District at Wednesday’s meeting is set to vote on a measure that would refinance a portion of a $19 million bond ordinance issued in 2005.

The board is set to vote on 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, has said the measure would refinance a portion of the old debt. The bond ordinance for introduction is not new debt, Sanasac has said.

Sanasac said by refinancing at today’s lower rates would save the district at least 3 percent on the payment stream.

The Board of Education is slated to meet at 8 p.m. at the Howell Township Middle School North, 501 Squankum-Yellowbrook Rd.