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Board hears police request to use existing loan for additional patrol vehicles
Summary
The police department asked the Evansville bond bank to use an existing loan originally for vehicles and equipment to fund additional patrol cars; board accepted the change as an informational update and asked clarifying questions about installed utility equipment.
The Evansville Local Public Improvement Bond Bank heard a police department request to use an existing loan for purchase of additional patrol vehicles rather than equipment.
Board staff said the loan language permits financing "police cars and equipment," and the police sought to shift the draw to fund only vehicles. "We thought we could do this…
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