Monmouth County Open Space Acquisition Trust Fund
MCIA financing enabled the county to enact its 1989, $36 million, voter-approved open space preservation program in half the time, setting aside approximately 2,000 acres of land, and allowing the county to reduce its budget by $1.8 million. The NJ Association of Counties recognized Monmouth County with its Innovative Financing Award for this financing.
Pooled Capital Equipment Lease Program
The 2011 financing marks the 11th biennial Capital Equipment Pooled Lease Program. A total of $134,500,000 in bonds have been issued under the program achieving debt service savings of $3,396,345.39 for forty-seven separate Monmouth County governmental entities; thirty-eight municipalities, seven Boards of Education, one Fire District and one Sewer Authority.
Pooled BANs Program
Since 1993 the MCIA has funded $545,765,000 in loans benefiting 37 municipalities, five local authorities and one fire district. These transactions have generated more than $19.35 million in debt service savings to the participants.Some municipalities also have used the program to generate new money to finance approved ordinances.
Anticipated Savings: $3 million.
Solar Energy Project
The first solar project by the MCIA will be completed by the end of 2011. There are seven participants for this first solar tranche.