Palmerton Area School District discussed options for a proposed $21 million districtwide renovation project:

Option 1: Borrow $15 million in new money, restructure 2010A and 2012 series bonds. Annual debt service would be $1.787 million, and would result in an annual increase of about $160,000 over 25 years. Total debt would be $44,574,275.Option 2: Borrow $15 million, restructure 2010A and 2012 series, maintain $1.6 million annual debt service. Annual debt service would be $1.65 million over 29 years. Total debt would be $47,763,868.Option 3: Borrow $15 million, restructure 2010A series, maintain $1.6 million annual debt service, payoff M&T loan of $1.6 million. Annual debt service would be $1.65 million over 27 years. Total debt would be $43,267,823.Option 4: Borrow $15 million, payoff M&T loan of $1.6 million. Annual debt service would be $1.975 million, and would result in an annual increase of about $350,000 over 20 years. Total debt would be $39,023,588.