December 20, 2018: Jason P. Capizzi closes bond financing for The Board of Education of the Borough of Somerdale, in the County of Camden

Jason P. Capizzi serves as Bond Counsel to The Board of Education of the Borough of Somerdale, in the County of Camden.  The School District successfully issued $3,157,000 School Bonds, Series 2018 dated December 20, 2018 to Roosevelt & Cross, Inc. and Associates.  Standard & Poor’s Financial Services LLC assigned the Bonds an insured credit rating of “AA” based upon the issuance of a Municipal Bond Insurance Policy by Build America Mutual Assurance Company.  S&P assigned the Bonds an underlying credit rating of “A+” (stable).  The Bonds finally mature on September 1, 2038 and have a net interest cost of 3.4902%.  The Bond proceeds will be used to purchase and install a new roof for the Somerdale Park School; to plan, design and construct an additional parking lot for the Somerdale Park School; and purchase and install recreational and playground improvements, and site/building utility work related to drainage for same, at the Somerdale Park School.

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