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Town staff previews reimbursement resolution and $400,000 loan for fire tanker
Summary
Staff told the board it will present a reimbursement resolution for roughly $96,000 in prior purchases and reported Lumby River EMC approved a $400,000, 3% loan for a fire tanker to be closed mid‑June; formal approval will appear on a forthcoming agenda.
Town staff briefed the Aberdeen Town Board on near-term financing steps. Finance staff said the board will be asked to adopt a reimbursement resolution for approximately $96,000 in previously incurred expenses (standard step to allow bond/loan-funded reimbursement).
Staff also reported that Lumby River Electric Membership Corporation’s loan committee approved a $400,000 loan at 3 percent for 15 years to finance a new fire tanker; staff said the loan is expected to close in mid‑June and will appear on a future meeting agenda for formal approval. No final contract documents were discussed at the work session.
Board members were informed about next steps; formal action and closing dates will be recorded in the minutes when the items return to the regular agenda.
