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Middletown Township to jointly own Tower 8 with PennDell, board authorizes manager to sign MOU
Summary
The Middletown Township Board of Supervisors authorized the township manager to execute a memorandum of understanding for joint ownership of Tower 8 with the PennDell Fire Company and agreed to pay the remaining principal balance to retire the truck's loan.
Middletown Township supervisors voted 4-0 to authorize the township manager to execute a memorandum of understanding (MOU) with the PennDell Fire Company to place Tower 8 into joint ownership and to pay off the truck's outstanding loan principal.
The action was presented by Township Manager Ratliff as a way to accelerate the township's apparatus plan and save interest costs. “This is an apparatus that's currently owned and funded through an apparatus funding plan by the township. They're currently making loan payments on that,” Ratliff said during his presentation. He told the board the outstanding principal is about $569,000 and that paying it off now would avoid roughly $241,000 in additional interest expense under the current amortization projections.
The MOU would establish joint ownership between Middletown Township and the PennDell Fire Company and preserve community access: the vehicle would remain housed at Station 8…
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