On June 6, 2016, the New Jersey Department of Community Affairs, Division of Local Government Services, Local Finance Board ("LFB") published a notice of proposed changes to the New Jersey Administrative Code that, if finally adopted, would allow any local unit subject to the "Local Authorities Fiscal Control Law" (N.J.S.A. 40A:5A-1 et seq.) to issue refunding bonds to realize debt service savings without the prior approval of the LFB if certain conditions are present at the time of such refunding and certain other requirements are met ("Proposed Rule Change").