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County considers up to $1.1M financing for UHF communications upgrade and ambulances; adviser recommends First National Bank
Summary
Davenport recommended First National Bank’s proposal as the most flexible and cost‑competitive option to finance replacement of the county's UHF paging/communications system and two ambulances. Commissioners deferred a final lender selection to the Nov. 17 meeting to preserve timing flexibility and further review terms.
The Caswell County Board of Commissioners heard a detailed financing presentation Nov. 3 for an installment financing contract to cover a UHF paging/communications system upgrade and two ambulances (one purchased and one remount). Tyler Smith of Davenport & Company summarized responses to an RFP for up to $1.25 million over a 10‑year term and recommended First National Bank on the basis of flexible prepayment terms, escrow arrangements and comparable total debt service.
Smith said four banks submitted proposals: Capital One Public Funding, First National Bank, Fidelity Bank and Roxboro Savings Bank. Capital One and First National provided locked rates; Fidelity's rate was not locked. Smith noted First…
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