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The original item was published from 9/8/2020 10:33:49 AM to 9/10/2020 5:48:54 PM.

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Cranberry Announcements

Posted on: September 8, 2020

[ARCHIVED] Saving the Day: Refinancing Promises to Lesson Loan Interest


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

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