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Felician Expanding Campus

The Bergen County freeholders have approved a $30-million bond financing arrangement that will enable Felician College to refinance old loans and pay for improvements to its Lodi and Rutherford campuses.

The bonds are being issued through the Bergen County Improvement Authority, the county’s financing arm under a program though which it makes its favorable interest rates available to schools, municipalities and non-profit organizations.

County officials say the arrangement — known as a “pass-through” bond — will not involve any county funds nor put taxpayers at risk.

Felician is a private independent non-profit Catholic/Franciscan college sponsored by the Felician Sisters. Its history dates back to July 1923 when it began as the Immaculate Conception Normal School

http://www.northjersey.com/news/bergen-county-freeholders-approve-30m-bond-for-felician-college-campus-improvements-1.1399691

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