Borough bondsGeneral Obligation Bonds, Series of 2027
Conshohocken council will vote October 21 on up to $15 million in bonds for a fire and EMS building, roads and a public works site
A proposed ordinance would let Conshohocken issue up to $15 million in 2027 bonds, with debt service capped at $30.9 million through 2051.
- Principal
- Up to $15 million
- Maximum rate
- 6.500%
- Final maturity
- Dec. 1, 2051
- Maximum total paid
- $30,862,383.33
At the 6.5% cap, interest exceeds principal each year through 2041
Conshohocken Borough Council may enact an ordinance on Wednesday, October 21, 2026, that would let the borough borrow up to $15 million through General Obligation Bonds, Series of 2027. A general obligation bond is a loan repaid from the borough's general revenues and backed by its power to tax. The borough posted notice of the ordinance on October 9.
The money would pay for the design of a new fire and EMS building, road and transportation repairs, the purchase of a public works facility, fire and EMS vehicles, and the cost of issuing the bonds. The maximum schedule attached to the ordinance runs the debt to December 1, 2051 and caps total payments of principal and interest at $30,862,383.33.
For contractors, the bond would pay for design work on the fire and EMS building and for road and transportation repairs, all of it work paid from public funds.
The limits in the ordinance
Council sets a $15 million ceiling now, and the final terms come after pricing
The draft is a parameters ordinance: council sets the outer limits now, and the borough's officers accept the final terms once the buyer prices the bonds, as long as those terms fall inside the limits. The ordinance names RBC Capital Markets as the underwriter and buyer of the bonds in a private negotiated sale, PFM Financial Advisors as municipal advisor, Obermayer Rebmann Maxwell & Hippel as bond counsel and Fulton Bank as paying agent.
The ordinance caps the rate at 6.5% and runs the debt to December 1, 2051
- Principal amount
- Up to $15 million (net of original issue discount)
- Interest rate
- 6.500% maximum on every maturity
- Final maturity
- December 1, 2051
- Maximum total debt service
- $30,862,383.33
- Average useful life of the project
- 30 years
- Approval before delivery
- Pennsylvania Department of Community and Economic Development
- Type of debt
- Non-electoral general obligation, backed by the borough's full faith, credit and taxing power
The debt is non-electoral, which means it does not go to the voters. Under the Local Government Unit Debt Act, the state law that governs municipal borrowing in Pennsylvania, the borough files a debt statement and a borrowing base certificate with the Department of Community and Economic Development, and the ordinance bars delivery of the bonds until the department approves.
Council declared the project's average useful life to be 30 years, and the ordinance says the borough obtained "realistic estimates of the costs of the Project through bid prices or estimates from persons qualified by experience to provide such estimates."
The maximum schedule
Interest makes up $15,862,383.33 of the $30.9 million total at the cap
PFM's schedule, dated October 9, 2026, sets a 6.5% maximum interest rate on every maturity. At those ceilings, the borough would pay $880,833.33 in 2027, mostly interest, then between $1.10 million and $1.31 million a year from 2028 through 2050. The last payment, in 2051, carries $2,055,000 of principal, and the year's total rises to $2,188,575. Interest makes up $15,862,383.33 of the $30.9 million total at the cap.
Interest at the cap would total more than the $15 million borrowed
Maximum total debt service, 2027 to 2051$30,862,383.33
Principal climbs from $25,000 in 2027 to $910,000 in 2050, then $2,055,000 in 2051
What the money would pay for
The ordinance lists five purposes, and borough minutes price the public works site at $5,975,000
The ordinance lists five purposes without an amount for each. Borough records give detail on two of them.
| Line | Purpose in the ordinance | What borough records show | Amount in records |
|---|---|---|---|
| 01 | Development and design of a new public safety facility | Fire and EMS building at 1111 Fayette Street; architect Alloy5 presented an update to council on October 7, 2026 | Not listed |
| 02 | Capital improvements and repairs to roads and transportation infrastructure | No project list in the ordinance | Not listed |
| 03 | Real property for a public works facility | 680 Colwell Lane in Plymouth Township, a 45,000-square-foot facility; agreement of sale with RTI Colwell LLC | $5,975,000 |
| 04 | Fire and EMS vehicles for borough use | No vehicle list in the ordinance | Not listed |
| 05 | Costs of issuing the bonds | The ordinance caps the underwriter's discount | Not listed |
The public safety building would stand at 1111 Fayette Street. The borough sought architects in March 2025 for a fire and EMS facility there, and in December 2025 it submitted a cleanup plan to the state Department of Environmental Protection for the former EF Moore Chevrolet property at 1109-1119 Fayette Street and 1201 Butler Pike in Whitemarsh Township. The October 7 agenda listed an update from the architect, Alloy5, and Resolution 2026-15, which would waive subdivision and land development review for the building. The ordinance describes this purpose as the development and design of the facility.
The public works facility is at 680 Colwell Lane, across the borough line in Plymouth Township. At council's August 5 meeting, the borough's executive director of operations said the current public services buildings are undersized and that the 45,000-square-foot facility would give the department more space and storage. The director of public services described limited work areas and equipment stored outdoors.
The borough manager put the price at $5,975,000 plus closing costs, paid from the General Fund, the Capital Fund and the expected 2027 bond proceeds, according to the minutes. Council approved the purchase 6-0 that night and the agreement of sale with RTI Colwell LLC 7-0 on August 19, when it also authorized a zoning application to Plymouth Township. The borough solicitor said Plymouth's zoning approval is required before closing. The October 7 agenda listed a first addendum to the agreement of sale and a supplemental appropriation for the purchase.
On September 2, PFM gave council a financing update for fiscal 2027, and council took up Resolution 2026-14, which lets the borough repay itself from bond proceeds for project costs it pays first. The ordinance confirms that resolution.
Council took up the projects at four meetings between August 5 and October 7, ahead of the October 21 vote
- Borough seeks architects for a fire and EMS building at 1111 Fayette Street (proposals due April 24, 2025)
- Borough submits a cleanup plan to the state for the former car dealership at 1109-1119 Fayette Street and 1201 Butler Pike
- Council approves buying 680 Colwell Lane for $5,975,000 plus closing costs (6-0) and awards the Hallowell Street road reconstruction for $832,585
- Council approves the agreement of sale for 680 Colwell Lane and a zoning application to Plymouth Township (7-0)
- Council hears a 2027 financing update from PFM and considers Resolution 2026-14 on reimbursing costs from bond proceeds
- Council agenda lists the bond ordinance advertisement and a land development waiver for the public safety building
- Borough posts notice of the parameters ordinance
- Council meeting at which it may enact the ordinance
Road work
The borough's most recent road award was $832,585, for Hallowell Street
The ordinance gives no list of streets. For scale, the borough's most recent road award came on August 5, when council awarded the Hallowell Street road reconstruction, base bid and two alternates, to T. Schiefer Contractors Inc. for $832,585, paid from the Capital Fund balance.
On August 19 council authorized bids for the Second Avenue Pedestrian Safety Improvements Project, which the borough's traffic engineer said is funded through the state's Automated Red Light Enforcement grant program and includes high-visibility crosswalks and rapid-flashing beacons.
What this means for bidding borough work
Prevailing wage applies to publicly funded projects estimated over $25,000
Work paid for with these bonds is paid from public funds. The Department of Labor and Industry says Pennsylvania prevailing wage applies to construction, reconstruction, demolition, alteration or repair, other than maintenance, done under contract and paid for in whole or part by a public body, when the project's estimated total cost is over $25,000. A project cannot be split to fall under that line. Locally funded highway and bridge projects carry a separate threshold of $100,000.
- Construction, reconstruction, demolition, alteration or repair
- Over $25,000
- Locally funded highway and bridge projects
- Over $100,000
Prevailing wage thresholds by estimated total project cost. Source: Pennsylvania Department of Labor and Industry, Prevailing Wage Projects, checked October 10, 2026.
The site's prevailing wage guide covers rate determinations and certified payroll.
Watch the borough's RFPs and bids notices and the council agendas, where council authorizes each bid advertisement before it runs. The public bids guide lists where Conshohocken-area work is posted. If you plan to bid design-phase or site work on the Fayette Street building, ask the borough administration office at 610-828-1092 which packages it expects to bid and when, since the ordinance does not set a construction schedule.
Caveats
The 6.5% rate is a cap, and the final terms come after pricing
The schedule is a set of maximums. The final principal, rates and maturities come from the buyer's addendum after pricing, and council can amend the ordinance before it votes. The 6.5% rate is a cap and says nothing about the rate the borough will pay.
The ordinance gives no split of the $15 million among its five purposes, so how much goes to roads or vehicles could not be verified from the documents posted. Votes on the October 7 agenda items were not yet in posted minutes when this was checked on October 10, 2026. The bonds also need state approval before they can be delivered.
The schedule, year by year
Maximum payments run from $880,833.33 in 2027 to $2,188,575 in 2051
| Year | Principal | Interest | Debt service | Principal and interest, drawn to scale |
|---|---|---|---|---|
| 2027 | $25,000 | $855,833.33 | $880,833.33 | |
| 2028 | $340,000 | $973,375 | $1,313,375 | |
| 2029 | $330,000 | $951,275 | $1,281,275 | |
| 2030 | $345,000 | $929,825 | $1,274,825 | |
| 2031 | $365,000 | $907,400 | $1,272,400 | |
| 2032 | $380,000 | $883,675 | $1,263,675 | |
| 2033 | $395,000 | $858,975 | $1,253,975 | |
| 2034 | $420,000 | $833,300 | $1,253,300 | |
| 2035 | $440,000 | $806,000 | $1,246,000 | |
| 2036 | $460,000 | $777,400 | $1,237,400 | |
| 2037 | $490,000 | $747,500 | $1,237,500 | |
| 2038 | $505,000 | $715,650 | $1,220,650 | |
| 2039 | $535,000 | $682,825 | $1,217,825 | |
| 2040 | $555,000 | $648,050 | $1,203,050 | |
| 2041 | $585,000 | $611,975 | $1,196,975 | |
| 2042 | $615,000 | $573,950 | $1,188,950 | |
| 2043 | $645,000 | $533,975 | $1,178,975 | |
| 2044 | $680,000 | $492,050 | $1,172,050 | |
| 2045 | $715,000 | $447,850 | $1,162,850 | |
| 2046 | $745,000 | $401,375 | $1,146,375 | |
| 2047 | $780,000 | $352,950 | $1,132,950 | |
| 2048 | $825,000 | $302,250 | $1,127,250 | |
| 2049 | $860,000 | $248,625 | $1,108,625 | |
| 2050 | $910,000 | $192,725 | $1,102,725 | |
| 2051 | $2,055,000 | $133,575 | $2,188,575 | |
| Total | $15 million | $15,862,383.33 | $30,862,383.33 |
The row for 2042 marks the first year principal is larger than interest. Source: Schedule A of the proposed parameters ordinance, Borough of Conshohocken. Download the data (CSV).