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Board approves $18.3 million financing for fire apparatus
Public Health and Safety Board · November 5, 2025
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Summary
The board approved JP Morgan financing through the Indiana Bond Bank to buy 18 frontline fire apparatus for about $18.3 million over eight years at an approximate 3.59% rate; plan replaces 17 aging units and adds one tanker for a new station.
The board approved financing to replace and add fire apparatus across Indianapolis.
Deputy Chief Michael Tiernan told the board the department negotiated financing through the Indiana Bond Bank with JP Morgan at an accepted rate of about 3.59% over eight years for $18.3…
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