The board of commissioners on Monday approved an ordinance authorizing a line of credit that will fund nearly $10 million in improvements around the township.
The line-of credit, approved by Lafayette Ambassador Bank, will pay for -- among other things -- a new ladder fire truck, a rescue truck and a light rescue truck, as well as a new carport for the police department.
The money will also go towards improvements at the township community center (at the cost of $2 million), roadway improvements, and refinancing $4 million in existing debt.
The line of credit is for up to $10 million, but "it doesn't necessarily mean we're going to be borrowing and spending $10 million," said Commissioner Michael Hudak.
In fact, the projects should cost $9.7 million, said finance director Andrew Freda, and the township is looking for other funding sources.
For example, the Northampton County Gaming Authority could help pay for the ladder truck.
Freda said the line of credit has a 2.6 percent interest rate, locked in for five years.