Lansdale Borough Council has given the go ahead for a financial consultant to seek proposals for a bank loan that would be used to retire bonds issued seven years ago.
Lansdale Borough Manager Jake Ziegler says the proposals could include new money.
“Interest rates are relatively low at the present time so there may be opportunities for additional borrowing and we’re asking our experts to go out and take a look at that to see what opportunities that may be there.”
The refinancing could save the Lansdale Borough 41,000 over five years. The bank loan proposals may be back in time for council consideration at its business meeting next month.