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Council discusses creating a fire‑department ambulance replacement fund; auditors advise consulting bond adviser
Summary
After the audit presentation, council members debated establishing a separate fund to accumulate ambulance replacement money and avoid borrowing; Baker Tilly advised checking arbitrage and bond‑covenant implications with the city's bond adviser.
During questions after the audit presentation, a council member raised whether Portage City could establish a dedicated reallocation or vehicle‑replacement fund for ambulances so the city could accumulate cash for future ambulance purchases rather than borrowing at the time of purchase.
The question matters because the ambulance service is evolving toward a more businesslike operation with its own revenues and costs; council discussion…
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