People in the News—March 1, 2022—Saxton & Stump
Saxton & Stump attorney John McBlain has been elected chair of the board of directors for the Delaware Valley Regional Finance Authority (DelVal).
March 01, 2022 at 11:00 AM
2 minute read
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Elected and Appointed
Saxton & Stump attorney John McBlain has been elected chair of the board of directors for the Delaware Valley Regional Finance Authority (DelVal). McBlain will serve as vice chair on the five-person board.
DelVal is a public authority formed by Chester, Delaware and Montgomery counties. The authority provides capital funding loans to local governments, school districts and sewer authorities for specific capital projects, as allowed under the Local Government Unit Debt Act.
DelVal has originated $3.7 billion of loans to more than 200 local governments in 16 counties. The program credits its success to the low-interest costs it is able to offer municipal borrowers. It currently has approximately $1 billion in loans outstanding to more than 120 different localities.
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