Council reviews Fire Engine #2 prepayment plan; city borrowing reduced
City Administrator Matt Wolf reported a prepayment to Reliant Fire Apparatus for Fire Engine #2 at $1,045,414 that yields Association savings of $147,730 and reduces the city's borrowing need to $836,692 after accessory costs of $427,653.12 were identified.
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City Administrator Matt Wolf presented the Fire Association’s plan to prepay Fire Engine #2 to Reliant Fire Apparatus, Inc., for a base total of $1,045,414. Wolf reported this prepayment "results in total savings of $147,730 for the Association members, of which $83,910.64 [is] for the city."
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