WEST MILTON — On Tuesday, the West Milton village council approved a loan for the purchase of a new fire truck.
Council authorized a $200,000, 10-year loan through Minster Bank at a 4.25 percent interest rate.
The legislation was voted on as an emergency in order to secure the interest rate.
“This does not authorize the purchase of the vehicle, this does not authorize us to expend any money. It just locks in the interest rate so the financing will be available when the truck is available and has passed all its tests,” Municipal Manager Matt Kline said.
Kline said interest rates are anticipated to rise over the summer. He does not expect to be ready to purchase the truck until fall.
“We did shop this around to many banks. This is the best rate that we could achieve, so we’re just trying to lock in the rate,” he added.
At council’s last regular meeting, they discussed the village fire truck situation. The fire department is looking to replace its current truck, which has been in use for about 20 years.
Council waived a requirement for the formal bidding process as village staff was able to find a used fire truck at a good price and secured a good rate for a loan to purchase the truck.
The village has been looking for a good used truck and found a 2009 truck from a community in the Dallas, Texas, area, Kline said. Fire department personnel flew down to check it out and verified that it is in good condition, Kline said last month.
Reach Cecilia Fox at email@example.com.