Advisor: Logan Could Save $440,000 by Refinancing Debt
Logan Township is looking to refinance some of its long-term debt.
John McShane – the township’s bond agent – told the board that current market rates could allow the township to save about $440,000 in interest on its $7-million loan. The money was borrowed in 2008 when the township constructed its new municipal building.
Supervisor Ed Frontino says the money would have to be used on long-term capital improvements.
The township could take the savings in one lump sum or in payments over three years.
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