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Council adopts reimbursement resolution to finance recently acquired fire apparatus
Summary
The council approved a reimbursement resolution permitting the city to be reimbursed for amounts paid for a newly acquired fire apparatus and to enter a tax‑exempt lease with US Bank after staff recommended US Bank following five proposals.
The city council approved a reimbursement resolution that allows the City of Nacogdoches to be reimbursed for amounts paid toward a recently purchased fire apparatus and to enter a tax‑exempt lease purchase financing arrangement with US Bank.
Kevin Sardinia, Assistant Director of Finance, told the council staff solicited proposals and recommended moving forward with US Bank. Sardinia said the approach preserves the city's equipment replacement fund equity and avoids issuing tax notes to purchase the apparatus.
A councilmember moved to approve the reimbursement resolution and, after a second, the mayor announced the vote carried. The staff memo indicated five proposals were received as part of the selection process.
The resolution authorizes the financing approach and the reimbursement for prior payments on the apparatus; staff did not report further conditions or a timeline for closing during the meeting.
