Milford selectmen on July 28 authorized Interim Town Administrator Mike Viola to execute master lease‑purchase agreements to finance a new fire truck, a new ambulance and a new dump truck after staff recommended a provider with competitive rates.

Assistant staff described two lease packages: a seven‑year lease for the fire truck and a five‑year lease covering the ambulance and dump truck. Staff said they reviewed multiple providers and recommended All America Finance Group because it offered the lowest interest rate and a structure that uses private investors to lower costs. The leases comply with warrant article language voters previously approved: the fire truck and ambulance were authorized in 2022 and the dump truck in 2024.

Board members asked about prepayment and payoff options; staff said the lease documents include payoff figures and that the agreements show year‑by‑year payoff amounts. The stated interest rate in the meeting was 4.97 percent.

Action: Selectman Friel moved to authorize the interim town administrator to sign the lease documents; Miss Filbrick seconded. The board approved the authorization by voice vote.

Why it matters: the lease authorizations enable procurement of vehicles voters previously approved in warrant articles while locking in a competitive interest rate. Staff said the leases allow payoff schedules and showed anticipated payoff figures for planning.

Ending: the interim town administrator will sign the documents after legal review and finalize financing for the approved vehicles.