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Finance committee reviews ladder truck prepayment offer and broader CIP debt options; asks for detailed financing plan
Summary
The committee discussed a vendor offer for a 2026 ladder truck the village could prepay to secure discounts and a high trade-in value, and received a long presentation on options to finance a $28.5 million streetscape and a potential $70 million to $90 million police/village-hall program.
Finance Committee members weighed a vendor's prepayment opportunity for a ladder truck and heard a detailed financing analysis of capital projects, including a $28.5 million streetscape and two options for police and village-hall work.
Village staff and the fire department described a first-right-of-refusal opportunity to buy a ladder truck built for delivery sooner than the village's planned schedule. Staff said the vendor offered a trade-in of roughly $190,000 for the village's existing truck and an estimated near-term savings in the low hundreds of thousands if the village prepaid; the chief and manager described…
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