SUNBURY – Two pieces of good news from the Northumberland County Commissioners Tuesday. One, the county taxpayers save about a half-million dollars by refinancing a nearly $10 million bond issue from 2015, getting a lower interest rate.
“So the recommendation would be to move forward with the JP Morgan proposal for 1.78%. The new loan at 1.78%, the existing loan has a fixed rate of 2.77% for five more years. Obviously you get an immediate reduction in the interest rate, from 2.77% to 1.78% for five years.”
The county’s bond advisor said they were going to move quickly, get the papers signed Tuesday afternoon, and hand delivered, to ‘the bank’ to lock in the low interest rate, he said they sought proposals from 35 banks.
Commissioners also announced they are re-opening county buildings, “They can come in like they were before, still with masks, still with temperatures being checked, still with social distancing, but we feel since the governor did what he did, it was time to open things up to the public.”
Northumberland County Commissioner Chairman Sam Schiccatano said courthouse, administration building, human service offices will reopen to the public as of Wednesday.
