SMETHPORT – The McKean County Board of Commissioners plans to take advantage of historically low interest rates and roll over the balance of bonds issued in 2007.
Acting at their meeting Tuesday, Commissioners Joe DeMott, Al Pingie and Cliff Lane gave the green light to refinance the bonds that totaled $4.6 million when issued. The amount to be refinanced is somewhat lower because the county already has made payments on the loans.
The bonds were issued, in part, to pay for courthouse improvements and for the construction of the county-owned Galico Bridge in Keating Township.
