South Strabane to refinance 2012 bond

South Strabane Township supervisors are considering refinancing a 2012 bond.
Following a presentation from Jamie Doyle, the managing director of PFM Financial Advisors, they voted Tuesday to work with Doyle on potentially refinancing the bonds.
Doyle told the board Tuesday that with current market trends, the township could see a savings of between $35,000 and $50,000. The township has $3.5 million remaining on the general obligation bond, which was issued to finance the public works building and police station, said township Manager Brandon Stanik.
“From what we know right now and what they’ve seen in the market, there’s a possible $50,000 savings,” Stanik said.
He said that potential savings was “attractive enough” for the supervisors to vote unanimously to set a $35,000 minimum savings for the refinancing of the bond.
“This was the first step to set the minimum amount for what that savings should meet before we decide to refinance,” Stanik said.
In other action Tuesday, the supervisors approved KLH Engineers to prepare bids for the Community Park Sewer Extension project. The project aims to attach kitchen and bathroom facilities to the park pavilion at the park’s main parking lot.
Stanik said the South Strabane Sanitary Authority finished building a sewer line last summer.
“There is now a sewer line available for this project to tap into,” Stanik said.
The bids will be for the infrastructure of the project, or “getting pipe in the ground,” he said. He said the township hopes to be able to complete the infrastructure this year and the construction of the facilities next year.