The Montgomery Township Supervisors are re-funding their sewer authority’s bonded debt of nearly $9 million. Chairman Joe Walsh says it’s a lot like a homeowner re-financing a mortgage.

“The same rationale applies.  You’re looking at getting a lower interest rate to save on monthly payments, and that’s what the sewer authority was looking to do.”

With interest rates at or near historic lows, he says the authority should save about $400,000.  The township guarantees the sewer authority’s debt to help it maintain a high bond rating and enable it to borrow money at favorable interest rates.