Issue 2 discuss the special township committee meeting that was called for on Dec. 17th at 5:30 pm to discuss the refinancing of approximately $13 million worth to township bonds. The township will be refinancing these bonds with the Monmouth County Improvement Authority (MCIA).
The Monmouth County Board of Chosen Freeholders formed the Monmouth County Improvement Authority in 1986 as a conduit to cost-saving alternatives to the traditional methods of public capital finance for municipalities, boards of education, local and regional utility authorities and other local and county government entities.
As part of this resolution the Township of Middletown has agreed to pay all costs and expenses, including legal fees, in connection with the administration and enforcement of this bond in addition to its share of the amounts payable between the Authority and the town.
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