(File Photo)

(Beaver, Pa.) Beaver County Commissioners during their regularly scheduled meeting yesterday approved contracts to begin the process of refinancing old bonds and obtaining new money.

The Commissioners continued to meet virtually on the Beaver County website with only media present at the meeting due to the COVID-19. Chief county solicitor Garen Fedeles said early estimates indicate that the board plans to refinance about $20 million in previously obtained money while taking out an additional $20 million in debt. About $13 million would be used for capital improvements recommended during the recent Consultation Energy  audit of the county’s properties. An additional $7 million will be used to pay for the court-ordered property reassessment.

Fedeles said the exact numbers for the three bonds will be determined later in the process.