Palmerton will realize a substantial savings through the refinancing of several general obligation bonds.

Borough Manager Donna McGarry informed borough council at Thursday’s meeting that the borough will realize a $176,000 savings through the refinance of both its water and sewer loans.

Council unanimously agreed in January to refinance the borough’s sewer and water bonds.

Water/sewer projects

Also on Thursday, McGarry announced that the borough could see a little over $527,000 over two years through the American Rescue Plan of 2021 that could be used for infrastructure.

McGarry said it could be utilized toward economic impacts from the COVID-19 emergency, premium pay for essential workers, or construction projects for water and sewer, for example.

She noted that during a televising of the borough’s sewer lines, there were a couple of areas of pipes that are broken in the West End.

“It is good that we are finding this,” McGarry said. “It will help our sewer plant operate better.”

McGarry said that the borough has until December 2024 to spend the funds.

She added that the funds are “certainly going to be helpful.”