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Pulaski council authorizes capital notes to finance new sanitation trucks
Summary
Council approved issuance of capital outlay notes to support previously approved purchases of new garbage trucks, with staff arranging a rate lock through the TML bond pool and delivery expected later in the year.
The board approved issuing capital outlay notes to fund new garbage trucks previously authorized by council. Staff said the city had earlier approved the purchases and that the TML bond pool will issue the notes and lock the interest rate through early December so funds are available when the first truck arrives in late November or about Dec. 1.
Council members discussed unit costs and delivery timing; staff and the bond-pool representative said the first truck is expected around December 1 and that some equipment has multi-month lead times. Council clarified that the notes would fund part of the $500,000 authorization and that the city would use local funds for the remainder.
Mister Worsham moved to approve issuance of the capital outlay notes; Missus Miles seconded. The council voted aye in roll call and authorized the financing arrangement.
