FRANKFORT, Ky. — Mountain Water District is asking the Kentucky Public Service Commission for permission to refinance its debt.

Under the proposal filed with the PSC last Friday, Mountain Water District would borrow nearly $6 million from the Kentucky Rural Water Finance Corporation for the purpose of paying off a number of revenue bonds dating back to 2001.

If approved, the utility estimates it would save more than $1.1 million over the next 26 years.

The PSC has not yet scheduled any hearings in the case.