Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Debt Management topic
No spam. Unsubscribe anytime.
Authority approves parameters to refund 2018 sewer bonds, projects $861,000 in savings
Summary
The board adopted Resolution 2026-03 to authorize a bond refunding structure for 2018 sewer bonds; Raymond James estimated savings of approximately $861,000. Refinancing cannot occur before April 1, 2026, but rate locks and structure can be set in advance.
Susquehanna Township Authority members voted Jan. 6 to approve Resolution 2026‑03, authorizing parameters for a refunding project of the Township's 2018 sewer general obligation bonds.
Manager Theresa Eberly introduced the proposal alongside Lou Verdelli of Raymond James and Timothy J. Horsham of Eckert Seamans. Verdelli told the board the estimated savings from the refunding are "approximately $861,000," and staff noted that a previously approved target of $1 million would require a roughly 10‑basis‑point movement in rates.
Solicitor Horsham told the board the Township cannot legally refinance the bonds until April 1, 2026, because of existing restrictions, but the bond structure may be established and rates locked in before that date given the 90‑day lead time.
The motion to approve Resolution 2026‑03 was made by Steven Napper and seconded by Frank Lynch; the motion carried unanimously. Board members said the flexibility provided by parameter approval will let staff and lenders act quickly if market rates decline further.
Next steps include finalizing the Third Amendment and Amended Trust Agreement and proceeding with the refunding process when legally permissible.
