Dropping interest rates may make it possible for Bellevue to refinance the borough’s bonds and net a savings of at least $150,000.

Director of administrative services Doug Sample told officials at the council meeting on Tuesday that interest rates were at 3.89 percent, but if they contin ued downward to 3.79 percent, Bellevue could save some money by refinancing the bonds last refinanced in 2005.

He suggested authorizing the firm of Boenning & Scattergood to refinance the bonds if the interest rate hit the necessary level.

Before the refinancing can be done, Sample said, the borough must get a bond rating that will cost $8,100, whether the refinancing goes through or not.

Council member Linda Woshner said that she had yet to see information on firms other than the one suggested by Sample, information she had requested last year when the subject of refinancing first arose.

Council voted 7-1 to move ahead with the bond refinancing. Woshner was opposed, and Lisa Blaney-Stewart was absent.