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Refinancing should save $100,000

Schuylkill Township Supervisors hope to save more than $100,000 by refinancing a 2006 United States Department of Agriculture loan, originally taken out for $400,000 at 4.5 percent. The loan was used to repave Valley Street.

Currently, the township pays $24,556 a year on the loan. This year, about $15,000 of that payment will be applied to interest, and about $9,000 to principal. For several months, Supervisor Christine Verdier has been contacting area banks to negotiate a refinance.During the township meeting Wednesday, Verdier said that Mauch Chunk Trust, Hometown, has the best terms. She said the interest rate would be 3.35, and that the township could be able to cut the length of the term to 10 years.In other action, the supervisors unanimously passed two new ordinances, both related to traffic flow in the township. In response to a resident's complaint, the township will now allow parking on Strawberry Street, Tuscarora, but only from April 15 through Oct. 15, and between Chestnut and Mulberry streets. The township will continue to prohibit parking during the other months so a snowplow can easily negotiate the street.The supervisors also voted to remove stop signs at the intersection of Valley and Emerick streets in Brockton.Solicitor Mike Greek said he had met with officials from Tuscarora Coal Company. According to the terms of a court order issued in the 1970s, coal trucks were directed to alternate using Schuylkill Township and Middleport roads upon exiting the coal company. Also, the coal company was to pay each municipal entity $1,000 per year, according to the court order.Greek said that coal company officials said they would take corrective actions to make sure the coal trucks were being routed as specified in the court order. Tuscarora Coal Company is also supplying maps for the truck drivers to ensure they understand which roads they are to use.The supervisors usually conduct the public comment portion of the meeting early in the agenda, but switched it to the end of the agenda. Verdier said she'd been sick, missing work, and might have to leave early.The regular business of the township was concluded by about 7:30 p.m., and public comment continued until about 8:30. Residents had questions about the amount of their garbage bills, police coverage and financial reports.