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Wheatland council agrees to cash fire-department CDs at maturity; discusses donating old ladder truck
Summary
Council authorized cashing three fire-related certificates of deposit at maturity to help finance new apparatus and discussed donating an out-of-service ladder truck to nearby volunteer departments.
The Wheatland council voted to cash three fire-department certificates of deposit when each reaches maturity and discussed donating an older ladder/platform truck to a neighboring volunteer department rather than keeping the vehicle in town storage.
Town staff outlined the fire fund balances and said the department has CDs at Platte Valley Bank and First State Bank and an older depreciation CD. The council voted that the town should cash out the three CDs upon their maturity dates and apply proceeds as appropriate for fire-apparatus needs.
Council members and fire staff also discussed an older ladder/platform apparatus (referred to as unit 4) that no longer carries equipment and does not roll on calls. Several council members suggested donating the unit to a smaller county department, such as Hartville or Glendo, if the county departments want it. Staff said the apparatus is still structurally pump-capable and can help smaller departments with training and ISO ratings; if no local department accepts it, the town will seek auction or sale.
On financing for a new apparatus, staff said a prior depreciation CD holds roughly $205,000 and there are additional CDs of about $32,000 and $30,000 at Platte Valley and First State respectively. Staff noted that applying those funds toward the apparatus could leave a small remaining balance (about $12,000) to pay off and that paying cash out of those reserves could save about $52,000 in interest over five years compared with financing. Staff also said the fire department had a $335,000 apparatus cost figure in its records and the department had agreed to contribute $35,000 toward the purchase; the council discussed seeking a loan for the remainder if needed.
The council’s motion to cash the three CDs upon maturity passed unanimously. Members directed staff to proceed with the plan to use available reserves toward apparatus costs and explore loan options for any remaining balance. Council discussion also emphasized keeping any donation of the old unit within the county where practical.
