Butler County has agreed to terms with a regional bank to serve as the chief lender for this year’s infrastructure bank loans.
The county selected Farmers National Bank as the bank of choice to distribute over $13 million in loans this year. The bank offered a 10-year fixed term of 4.22 percent to the county.
The infrastructure bank allows municipality to take out loans through the county, who then offers a lower interest rate back to the municipality. Under this agreement, the municipalities will be paying an interest rate of 2.72 percent.
The county previously awarded around $20 million in loans, but learned earlier this week that Adams Township was not moving forward with the process.
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