Franklin may refinance water and sewer loan

Franklin — During his report at Tuesday’s Franklin Borough Council meeting, Administrator Jim Kilduff advised the council of Chief Financial Officer Monica Miebach’s plan to refinance a $2.9 million water and sewer loan taken nearly 30 years ago.

With $2.3 million in principal left over the remaining 24 years of the loan, he advised the borough could save about $300,000 in interest charges by refinancing the loan at today’s lower interest rates.

The matter will appear as an agenda item in an upcoming meeting.