The township council of Moorestown, N.J., voted to approve the issuance of $11.9 million of bonds or notes to finance the construction of a new municipal library and town hall building.
Fire damaged Moorestown's old town hall building more than five years ago. The town is in Burlington County, about 15 miles east of Philadelphia.
Moorestown is now accepting bids to construct the new municipal complex through Oct. 17. The winning bidder will provide the labor, material and equipment necessary to complete work for the site's construction.
Officials expect to complete the project in 450 days once the town gives the go-ahead. Moorestown is rated Aa2 by Moody's Investors Service and has about $28.5 million of general obligation debt outstanding.
