Loan Set To Cover Debt Payment On Pa. Incinerator - KDKA

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Nov 3, 2010 7:20 pm US/Eastern

HARRISBURG, Pa. (AP) ? Local government leaders in central Pennsylvania have arranged a loan to cover the debt payment for the costly incinerator in Pennsylvania's capital city.

Dauphin County commissioners on Wednesday authorized procurement of a two-year loan to make the $34.7 million payment due next month.

Commissioners said the county will execute that borrowing through PNC Bank if the Harrisburg Authority and the city are unable to make the payment on the 2007 bonds that financed an upgrade to Harrisburg's incinerator. The authority is primarily responsible for the Dec. 15 payment with the city and county as guarantors.

The Patriot-News of Harrisburg says commissioners say the borrowing will allow efforts to continue to restructure the $288 million debt.

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Information from: The Patriot-News, http://www.pennlive.com/patriotnews

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