A bond referendum is an election in which a school district asks voters for permission to borrow funds through the sale of bonds to finance large-scale projects spreading the costs over a period of time such as 20 years to have taxpayers who benefit from the project pay for it, and to tap into a type of state aid up to 40% of the total costs that is only available to districts with approved bond proposals. 

The district's current debt expires in January 2027. This provides a unique opportunity for the district to fund necessary infrastructure upgrades and plan for the future 21st century needs of a growing student population, reflective of upcoming new housing developments and preschool expansion for all 3- and 4-year old children in township boundaries.

The district can replace existing debt that is expiring with up to $40 million dollars in capital projects and upgrades with a “net zero” impact to taxpayers. Any amount below this amount would create a savings for taxpayers compared to the amounts currently paid per household on the existing debt service tax levy. The Board of Education crafted a $38 million dollar referendum to lower taxes compared to current levels. 

The district has been prudent in budgeting at or below a 2% tax levy cap with allowable adjustments for nearly 15 years. With fiscally responsible spending monitored by board committees, the district has been able to utilize capital reserves to finance major capital projects averaging over $1 million dollars per year for the past 10 years without issuing new debt and increasing taxes. However, inflationary pressures along with salaries and benefit increases averaging well above 2% have eroded the district's ability to continue saving the amount of funds needed to replenish reserves. 

A referendum helps spread the cost of the construction projects over time (like how a homeowner finances a new roof or an addition with a line of credit), and this time is relative to the time taxpayers who benefit from the project pay for it, and the issuance of bonds allows the district to tap into a type of state aid that is only available to districts with approved bond proposals, up to 40% of costs. This state aid which is only available by issuing bonds offsets the impact of interest and other fees resulting in an incentive for the district to utilize this approach. 

The district is seeking to develop capital projects that replace aging infrastructure and reflect the modern needs of students in obtaining a free and equitable education. Everything from HVAC, paving, fire & burglar alarms, security & safety, special education, health & wellness, among others are all potential avenues being explored based on reflection of the needs of students, staff and the community for the next 20 years. 

Click here to view the projects 

The district is holding a series of meetings and forums for staff members, critical stakeholders and the community to provide input on potential projects. A general outline of dates include:

September 2024: Building & department-level discussions

October 2024: Meetings with critical stakeholder groups (HSA, RTEA, Township of Readington, other)

November 2024: Architect walkthroughs 

December 3, 2024: Open public forum on referendum at Board of Education Conference Room in Holland Brook School at 6:30 p.m.

December 10, 2024: Bond attorney referendum presentation to public at BOE Meeting at 7:00 p.m.

January 2025: Board committee meetings on referendum

February 25, 2025: Board vote on referendum

March – August 2025: Public campaign for referendum

September 9, 2025 (TUESDAY): Referendum tours at Three Bridges School @ 6:00PM

September 30, 2025 (TUESDAY): Referendum tours at Whitehouse School @ 6:00PM

October 14, 2025 (TUESDAY): Referendum tours at Readington Middle School @ 5:30PM, then Holland Brook School thereafter

October 28, 2025 (TUESDAY): Referendum open forum and information session at Board of Education Conference Room in Holland Brook School at 7:00 p.m. 

November 4, 2025 (TUESDAY): Public ballot vote at regular election polling locations (remember to register to vote!)