New Brunswick advances solar and energy-efficiency work at three schools, with up to $10.5M in proposed refunding bonds

What happened

In approved August 18 minutes, the Board adopted an Energy Savings Plan, approved HESP Solar to install and maintain photovoltaic panels, and authorized the plan to proceed through cost-neutral refunding bonds. The September 15 agenda schedules a public hearing and resolution for issuing up to $10.5 million in Energy Savings Obligation Refunding School Bonds; that issuance is presented as proposed, not as a completed sale.

Why it matters to families

The plan would bring solar installations and energy-efficiency upgrades to New Brunswick High School, New Brunswick Middle School, and Lord Stirling Community School, with anticipated completion in about two years. It also creates a large financing action for the district, while the stated purpose is to reduce electricity costs and support roof sealing and extended roof warranties.

The evidence

August 18 minutes state that the Energy Savings Plan covers solar and energy-efficiency upgrades at New Brunswick High School, New Brunswick Middle School, and Lord Stirling Community School, and record approval of the plan, HESP Solar power-purchase agreement, and authorization to introduce a cost-neutral Energy Savings Refunding Bond Ordinance. The September 15 agenda calls a public hearing and lists a resolution for the sale and issuance of not more than $10,500,000 principal amount of Energy Savings Obligation Refunding School Bonds.

The source