Butler County Commissioners are approving a refinancing of nearly $10 million in borrowing that they say will save over $770,000.
The 2018 borrowing was originally totaled at $10.8 million at a 3.46 percent interest rate and was used to start the Butler County Infrastructure Bank.
It funded projects in the City of Butler and Cranberry Township. With the refinancing, those municipalities will now only pay a .56 percent interest rate, down from 1.96 percent.
County officials said they made the move to take advantage of current market conditions.
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