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OCTOBER 26-NOVEMBER 1, 2023
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Northampton School Board Hears proposed elementary School, education center Financial plan presentation
By SAVANNAH BROWN During the Northampton School Board meeting on Monday, October 9, Jamie Doyle from PFM Advisors presented the proposed Route 329 elementary school and education center financial plan as a three-step capital plan from 2024 through 2026. Doyle presented that federal tax laws permit an issuer to borrow at a tax-exempt interest rate and invest the proceeds at an unlimited (taxable) yield subject to arbitrage requirements during the period of project construction, but only if the following three tests can be satisfied: expenditure test where the issuer will spend 85% of the proceeds within three years; time test where the issuer will incur a substantial
binding obligation such as sign- suer must meet spending exceping a design contract and award- tions. ing a construction bid within six The district may also consider months, equal to at least 5% of a parameters resolution for the the borrowing amount; and the bonds, which would authorize due diligence test where con- the financing team to issue the struction of the project will pro- bonds as long as certain paramceed, and the bonds funds will eters are met in order to be able be spent with due diligence to to enter the market with those completion. bonds when it is most advantaBased on arbitrage rebate con- geous. The parameters resolution siderations, an issue is exempt establishes a set of thresholds unfrom arbitrage rebate if it quali- der which the ultimate financing fies under size and time-based ex- must fit within, including maxiemptions such as the small issuer mum principal amount, maxiexception where as long as the mum interest rate, maximum issuer has governmental taxing final maturity, and minimum net base powers and does not expect savings target (refunding). to or has not issued more than Doyle provided a summary of $15 million in tax-exempt bonds estimated construction draws, in a calendar year, an exemption which includes the $70,363,000 would apply, and the time based/ spending exception where the is- Continued on page 7
7th Annual Trunk-orTreat held In Moore Township
Overall favorite trunk, the Mermaid Trailer
By CATHERINE STROH On Saturday, October 21, the Moore Township Community Days Committee held their 7th Annual Trunk-orTreat at the Recreation Center, with a total of 18 cars participating. Children, adults and furry friends were invited to dress in their best Halloween costumes, and there were lots Continued on page 3
Troop 50 conquers The swamp
Submitted by ner was freshly prepared by our MICHAEL GOCH guides and consisted of LouisiThis past June the Scouts and ana favorites like red beans and leaders of Troop 50 Salem UCC rice, gumbo, crawfish étoufée, in Moorestown, Pa. traveled to catfish and jambalaya, all dusted Loiusiana for a high adventure with “Tony’s” creole seasoning, trek on the Atchafalaya Swamp, which has become a Troop 50 organized by the Swamp Base staple (we even took it to summer Scout Camp. camp). The final day of our trek The adventure began by get- we paddled by starlight to Sandy ting outfitted with all the neces- Cove to watch a beautiful sunrise. sary gear for a 61.6-mile canoe After paddling a few miles, we trek. With dry bags and paddles began our last hoorah by portagin hand we boarded our canoes ing over our last levee and entered and ventured into the Atchafala- Continued on page 3 ya swamp system, the largest wetland and swamp in the United States. On our first day of the trek, we acclimated ourselves to the heat and humidity of Louisiana, all while paddling 13 miles. Along ws The Home Ne Free the trek we stayed the night on a floating dock nestled amongst OWING 2023 T 4 2 UR HO the old growth cypress trees averaging between 800-1000 years old. What a sight it was, to experience a true swamp and all the beauty it beholds. EX On AUTO PERT another IRS BODY REPA night, we slept in hammocks on Rougarou Island while watching a spectacular thunderstorm off in the distance. The following days Automotive and nights were spent paddling up to 15 miles daily with Asian carp jumping along our canoes 82nd Year, Issue No. 43 and alligators keeping a watchful eye. Food provisions were www.homenewspa.com plentiful, consisting of protein bars, military rations, and we looked forward to the sweet taste of Honey stinger waffles. Din-
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