Council approves closing multiple CDs to fund new fire apparatus; remainder covered by insurance and school tax

The Atoka City Council voted to close several certificates of deposit (CDs) to help fund the purchase of a new fire truck and engine, and approved transfers of CD balances to a designated account for that purchase.

City staff said the CDs in question were identified earlier as a funding source for the apparatus. The meeting cited specific CDs by number that the council approved to close and transfer; the packet and discussion named CD 48871, CD 52356, CD 51183, CD 1322478, C1323725 and CD 1328794 among those to be closed and applied toward the purchase. City staff reported varying totals across earlier estimates and a current combined CD balance figure discussed during the meeting; staff said bank minutes are required by the banks to process the withdrawals.

Staff described the larger budget context: the original totaled truck from several years earlier was about $510,000; unit prices have risen and the city secured a like-for-like truck to avoid a larger price increase tied to newer emissions systems. The replacement purchase and related work were framed as important to preserving the city’s ISO rating and, by extension, residents’ insurance costs. Councilmen said the remainder of the purchase will be covered by insurance proceeds and school tax funds, per the funding breakdown discussed on the record.

Motions to close the mentioned CDs and transfer or apply funds toward the fire apparatus purchase were approved by roll call. Several council members abstained on particular bank transfer motions where applicable, consistent with packet entries noting bank-specific transfer instructions.