Salem County Board of Chosen Freeholders
94 Market Street. Salem, N.J. 08079

CONTACT: Deborah Turner-Fox, Clerk of the Board/Administrator

February 5, 2003

Salem County Bond Refinancing Saves County Money

The Salem County Board of Chosen Freeholder’s Director, Jack Kugler announced today that the county has authorized their Bond Counsel, Parker, McCay and Crisculo to refinance bonds for the county’s Correctional Facility and Court House Annex. The re-financing of these bonds, which have been secured through The Salem County Improvement Authority, is projected to save the county over $130,000 per year totaling approximately $1,838,915 over the next 14 years. Director Jack Kugler commented that given these especially tight economic times, the Freeholders must be proactive in evaluating every available opportunity to be fiscally responsible to the taxpayers of Salem County. This is a continuing effort by this Freeholder Board to evaluate and review all areas of expense that have an impact on our ability to control the County’s tax rate.

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