CLEARFIELD – The Clearfield County Commissioners would like to consolidate the county’s loans and are seeking proposals from banks, announced Commissioner John A. Sobel, chair, at Tuesday’s regular board meeting.
The commissioners are interested in refinancing some debt that’s associated with the purchase and renovation done years ago for offices to relocate into the current administrative building on East Locust Street, said Sobel.
It would also include the debt associated with the current installation of a new boiler at the main courthouse and heating and cooling systems at the county jail and 911 Center, according to Sobel and Commissioner Mark B. McCracken.
Sobel said the commissioners are asking banks for proposals to begin the loan consolidation process. Solicitor Kim Kesner asked if the commissioners planned to present any written proposals to banks or to let banks come to them with various options after it’s been reported in the local press.
Kesner suggested to the commissioners that they develop an outline of their loan consolidation criteria and initiate inquiries with banks. Commissioners Sobel and Tony Scotto agreed that would be a good way to handle it.
Kesner also advised the commissioners that “the more specific, the better it is” because there could be any number of options. “They don’t know, so they may propose any number of things,” he added. However, Kesner said if the commissioners don’t have set criteria, he was sure banks would be able to come to the table with options.
Commissioner Mark B. McCracken said they will begin gathering the necessary information and developing the county’s terms for the loan consolidation. “And, if they come up with something they want to propose to us, that will be fine, too,” said Sobel.
