Wilentz Serves as Bond Counsel to The Board of Education of the Borough of Tenafly

Tony Solimine, Co-Chair of the Wilentz Public Finance Group, served as bond counsel to The Board of Education of the Borough of Tenafly in the County of Bergen in connection with the authorization and issuance of a $5,511,119 ESIP Lease Purchase Agreement. Steven Polhamus served as the lead attorney in procuring and negotiating the terms of the power purchase agreement. The proceeds of the ESIP Lease Purchase Agreement will be utilized to finance various energy conservation measures throughout the school district. The energy savings generated from these improvements, together with all applicable rebates and the expected savings from the power purchase agreement, will be sufficient to pay the principal and interest associated with the ESIP Lease Purchase Agreement. In sum, this financing will result in upgraded facilities with no new tax impact on the residents of the School District.