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Trustees outline $799,000 fire-engine purchase: $300,000 up front, 10-year lease for remainder
Summary
Trustee Kelly told the board the village will pay $300,000 from ambulance revenue toward a $799,000 fire engine and lease the remaining $499,000 over 10 years; trustees asked for the purchase to be placed on next week's consent agenda with supporting documentation.
The Village of Midlothian plans to take delivery of a new fire engine costing $799,000. Trustee Kelly said the village will pay $300,000 up front from ambulance-service revenues and lease the remaining $499,000 over a 10-year term.
Trustee Kelly said the selected leasing company is one the village has used previously and that the estimated annual payment will be roughly comparable to the lease payment for the prior engine, which helps spread the cost and preserve short-term cash flow. Trustees asked staff to include the purchase documentation on the consent agenda at the next meeting so formal approval and payment arrangements can be completed.
Why it matters: The capital purchase improves fire-department capacity but is a major municipal expenditure; the financing plan reduces immediate budget pressure while committing the village to a multi-year lease obligation.
What happens next: Staff will assemble lease and purchase documents for board action at the next meeting and the village will complete the $300,000 upfront payment prior to delivery.
