LEWISBURG — Union County Commissioners voted Tuesday to seek proposals to refinance a combined $11,169,000 in existing debt.

The commissioners appointed PFM Financial Advisors as financial advisor, Stifel, Nicolaus and Co. as placement agent and Eckert Seamans Cherin and Mellott LLC as note counsel.

During a work session Tuesday, James Schlesinger, director, PFM Financial Advisors, calculated estimated savings at $693,184. He said he’d solicit proposals from up to 25 firms, anticipating replies from 7 to 10. Proposals would be discussed during a March 2 meeting of the county board, with March 16 targeted for accepting a proposal and April 20 as the bank loan settlement date.

Asked by Commissioner Jeff Reber, Schlesinger said proposals would be sought from local banks.

The debt is spread across two bonds and includes loans issued for Great Stream Commons, buildout of the new 911 center and the purchase of the county government center.

— ERIC SCICCHITANO

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