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Penn Township officials consider getting $3M loan

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Thursday, Feb. 13, 2014, 11:39 p.m.
 

Penn Township commissioners will consider borrowing $3 million to pave roads, rather than $5 million.

Commissioners authorized finance manager Linda Iams to seek financing options for as much as $3 million, to be repaid over six or eight years.

Commissioners decided on Wednesday to scale back the project when Iams said paying back a $5 million loan might lead to a hardship. Iams had sought financial options to borrow up to $5 million, as directed by commissioners in January.

She presented preliminary quotes from three banks for the loan to repair township roads.

Iams will seek proposals to finance up to $3 million to be presented to commissioners when they meet on Monday.

Solicitor Les Mlakar said such borrowing would require approval from the state Department of Community and Economic Development, which would give the township some time to identify the roads most in need of repair.

He estimated that approval could be granted by April or May.

Commissioners authorized the purchase of two Mack dump trucks and three 2014 Dodge Charger police cars.

Officials have been replacing the police department's aging fleet by purchasing three cars annually for the last few years.

The two dump trucks cost $354,987. The three cruisers cost $69,345, and they will be outfitted with lights, sirens, radios, video cameras and decals for an additional $35,938.

Commissioners have recommended Robert Boswell to Gov. Tom Corbett to be appointed as the emergency management coordinator for the township, replacing George Adamson, who is resigning.

Renatta Signorini is a staff writer for Trib Total Media.

 

 

 
 


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