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Marion council approves $217,529 in street equipment purchases and authorizes bank loan
Summary
Council approved FY26 purchases of street equipment totaling about $217,529 (including a compact loader and two snowplows) and authorized a loan agreement with First Southern Bank to finance the purchases over five years at a roughly 2.65% rate.
The Marion City Council approved several FY26 street‑department equipment purchases and authorized the city to enter a loan agreement to fund the purchases.
Doug, the street department representative, outlined the equipment list: a small tractor (~$14,900), a Bobcat compact loader ($64,905.06) from Bobcat of Marion, a bridall laser ($63,255) and two snowplows ($26,992 for both), resulting in a $217,529.06 total. Staff reported a trade-in allowance of $9,500 on an older Bobcat and said the purchases were competitively bid.
Council members asked about warranty options on the Bobcat; staff said the base bid included a two‑year or 2,000‑hour mechanical warranty with an optional extended 60‑month/2,000‑hour full bumper‑to‑bumper warranty available for an added cost.
The council approved the purchases by roll call. Doug then described bank solicitations to finance the purchases and said First Southern was the apparent low bidder for a not‑to‑exceed $217,529.06 loan over five years at about a 2.65% interest rate. The council approved the ordinance to enter a loan agreement (recorded as ordinance 4042).
Both the purchase authorization and the financing ordinance passed by roll call during the same agenda sequence.
