Back in March, South Whitehall officials brought in financial consultant Jamie Schlesinger for assistance in obtaining a $1.5 million bond issue to fund capital improvements.

After shopping at various banks and lending institutions, Schlesinger came back with such a good offer, commissioners agreed to double the amount to $3 million.

At the April 16 commissioners' meeting, Schlesinger reported The Neffs National Bank offered an interest rate of 2.31 percent for 10 years.

After that time period, the rate will be reset probably to around 4.5 percent but no higher than 5.5 percent.

"This will be a line of credit with full amortization over a 20-year period," Schlesinger said.

The cost of issuance is $45,000.

Bond counsel Kevin Reid explained legal terms of an ordinance outlining details involved in the bond acquisition process, including authorization of certain officials to sign documents.

The funds will be used to purchase public works trucks and a fire truck for Greenawalds.

Intersection improvements at Trexler Boulevard and Parkway Road, at Broadway and Schaeffer Street, and at Union and 35th Street; a storm sewer at Trexler Boulevard; and reconstruction of Jordan Road will also be funded through the bond issue in 2014.

Finance Manager Lenore Horos explained the $3 million could be drawn down over a two-year period.

Capital improvement projects for 2015 will be discussed during budget preparation in the fall.

Closing on the bond is scheduled for mid-May.