Appeal to delay Kane sewer loan re-financing
March 18, 2013
Chris Stovic
A "citizen appeal" will delay an attempt by the Kane Borough Sewer Authority to re-finance a loan.
The authority in October agreed to re-finance the balance of $5.9 million from a 1994 loan to rebuild the borough's two sewage treatment plants.
By taking advantage of lower interest rates and a shorter term, the authority expects to save at least $1.2 million in interest fees through 2034.
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