12.16.2021
A Wilentz public finance team led by Lisa Gorab and Tony Solimine served as bond counsel to the following 3 transactions that closed today:
The Board of Education of the Somerset Hills Regional School District in the County of Somerset, New Jersey in connection with the issuance of $11,775,000 Refunding School Bonds, Series 2021, dated December 16, 2021. As a result of this transaction, the Board will realize $1,398,258 in budgetary savings over the remaining life of the bonds. This transaction resulted in 10.4% net present value savings.
The Board of Education of the Borough of Mount Ephraim in the County of Camden, New Jersey in connection with the issuance of $2,941,000 Refunding School Bonds, Series 2021, dated December 16, 2021. As a result of this transaction, the Board will realize $190,649 in budgetary savings over the remaining life of the bonds. This transaction resulted in 4.89% net present value savings.
The Board of Education of the South Orange-Maplewood School District in the County of Essex, New Jersey in connection with the issuance of $2,941,000 Refunding School Bonds, Series 2021, dated December 16, 2021. As a result of this transaction, the Board will realize $1,124,037 in budgetary savings over the remaining life of the bonds. This transaction resulted in 8.55% net present value savings.
