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Posted on: September 8, 2020

Saving the Day: Refinancing Promises to Lesson Loan Interest

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A chance to refinance a loan with Butler County will save the Township hundreds of thousands of dollars in the coming decade.

The Board of Supervisors on Tuesday voted to refinance a general obligation note through the Butler County Infrastructure Bank.

The refinancing lowers the Township’s interest rate from 1.96 percent to 0.56 percent and will result in a savings of $354,353 over the next eight years.

The loan, taken through the Bank program in January 2019, is helping pay for the MSA Thruway project.

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