Selectmen approve M&T Bank financing for new fire truck; SCBA purchase deferred to next meeting

The Andover Board of Selectmen voted 5–0 on July 14 to authorize using M&T Bank to finance the town's planned fire truck purchase after reviewing preliminary terms and a proposed payment schedule. The board discussed the separate request from the Fire Department for SCBA equipment and agreed to take that up at the next meeting once final numbers are ready.

Why it matters: The truck purchase is a capital project the town has saved for; approving a bank to provide financing finalizes the procurement pathway and sets an approximate annual payment the town will budget for while the SCBA purchase still awaits formal authorization.

Board discussion and vote: Town Administrator Eric (staff member) presented a preliminary financing option from M&T Bank and told the board the truck is expected to arrive in August after factory inspection. Selectman Jeff Maguire moved to use M&T Bank to finance the fire truck, and Selectman Scott Persson seconded. During discussion the board reviewed the bank's preliminary payment estimate and the interest rate presented in the packet. Eric said the packet shows the bank's estimate and that final terms would be worked out with the lender.

Selectman comments focused on affordability and timing. Eric said the truck payment and the SCBA purchase are both affordable from the capital fund that the town has been building. The approval explicitly authorizes proceeding with M&T Bank financing; the board did not sign purchase contracts at the meeting. The board recorded a unanimous (5'0'0) vote in favor.

SCBA purchase status: The SCBA request (self-contained breathing apparatus for the Fire Department) remains on the table. Eric said both the Board of Selectmen and the Board of Finance need to approve the final SCBA purchase and that the town has sufficient capital funds to support both the truck and SCBA, provided the board authorizes use of those funds. The board directed staff to bring a final SCBA acquisition package, including exact quantities and pricing, to the next meeting for an up-or-down vote.

Budget context and next steps: Eric indicated the capital fund has been accumulating funds for the truck payments and that the town's proposed annual payment estimate from M&T Bank will be used in planning. The board voted to proceed with M&T Bank as the financier; staff will return with final loan documents and the SCBA purchase proposal. The vote was recorded as: motion by Selectman Jeff Maguire, second by Selectman Scott Persson, outcome approved 5'0''.