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Arkansas City approves purchase of loose equipment and lease-purchase financing for new fire engine
Summary
At a special meeting the Arkansas City Commission approved two resolutions: one to buy loose equipment for a new 2025 Ferrara fire engine and a second to enter a lease-purchase agreement with Union State Bank to finance the engine, citing long delays in delivery and aging equipment.
At a special meeting, the Arkansas City Commission voted to authorize the purchase of loose equipment needed to outfit a new 2025 Ferrara fire engine and to enter a lease-purchase agreement to finance the engine and associated equipment.
The items approved were (1) a resolution authorizing the city to buy loose equipment — including SCBA units and radios — for the new engine in an amount not to exceed $154,001.20 (inclusive of shipping), and (2) a resolution to enter a lease-purchase agreement with Union State Bank to finance the engine and loose equipment for a total finance amount of $1,034,520.83 at a quoted interest rate of 4.25% with semiannual payments.
The commission approved both resolutions after discussion about the…
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