Freeburg Municipal Authority Minutes April 16, 2026
Authority Approves Refinance of Loan With Central Penn
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Description
The authority approved Resolution 2026-2 to refinance Loan #411180044 with Central Penn Bank & Trust, addressing an estimated $60,000 remaining balance on its construction line of credit. Monthly principal payments of $2,500 plus interest will continue as the loan is restructured over a two-year term.
Contract Details
Contract Amount
$72,500.00 line of credit; estimated $60,000 refinance balance
Vendor
CENTRAL PENN BANK & TRUST
Agency
Borough of Freeburg, PA
Contract Type
FINANCIAL_SERVICES
Document Date
April 16, 2026
Contract Term
Construction loan end date October 5, 2026; proposed refinance over 2 years
Renewal Date
2026-10-05
Renewal Info
Existing construction loan with Central Penn Bank & Trust will be refinanced under Resolution 2026-2 into a new two-year repayment structure.
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