Bernards Schools Expect to Save Millions By Refinancing
Planned refinancing of debt from 2005 bond issuance expected to save between $2 to $3-million, along with previous savings.
The Bernards Township school district's bond counsel gave a brief report on Monday that outlined how township schools expects to save about $2.7 million — or $185,000 per year — by refinancing bonds still outstanding from the last major school reconstruction project in 2005. That savings would be on top of about another $797,000 that the school district had saved by refinancing another $8.4 million during 2012, said Rod McLaughlin, business administrator for the school distict. The bonds being refinanced cover the school district's share of a $51 million schools construction project in 2005, according to figures from school officials. This latest round, with $24,385,000 worth of bonds, would cover the remainder of the school district's …
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