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Jay Fire Department to buy used pumper truck; commissioners approve $150,000 loan at 3.98%
Summary
The Delaware County Board of Commissioners voted Feb. 10 to accept a bid and five-year financing through Bank of Grand Lake for a used pumper truck for Jay Fire Department: purchase price $175,000, trade-in $25,000, loan $150,000 at 3.98% (monthly payment $2,764.63).
The Delaware County Board of Commissioners on Feb. 10 unanimously accepted a bid to buy a used pumper truck for the Jay Fire Department and approved financing through Bank of Grand Lake.
Case Hampton of Bank of Grand Lake presented the financing terms to the board: "The interest rate is 3.98% and the loan amount of $150,000 is fully amortized. The monthly payments will be $2,764.63." The minutes record the purchase price as $175,000 with a $25,000 trade-in, leaving a financed principal of $150,000 on a five-year note.
Jay Fire Chief Brandon Alexander told the board his fire board had authorized him to proceed with the purchase. During public comment earlier in the meeting, resident Mike Major asked for the loan figures associated with agenda item #17; the bank representative provided those numbers when the board considered the bid.
Commissioner Jake Callihan moved to accept the bid and financing; Commissioner David Beck seconded and the motion passed by unanimous roll call. The minutes do not list any conditions on the financing and record the board’s acceptance as final action at that meeting.
The funding will be handled through the Bank of Grand Lake five-year purchase note; the truck is intended to increase fire suppression capacity for Jay and surrounding parts of Delaware County. The board adjourned at 9:43 a.m.
