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Council approves financing for $2.15M ladder truck; first payment deferred two years
Summary
Council approved a financing resolution for a 2026 Pierce aerial ladder truck previously authorized at roughly $2.15 million, accepting a $1,930,815.91 financing arrangement at 4.975% with the first payment deferred to June 25, 2028; staff said additional equipment and accessories will be funded under a separate lease.
Denison — The City Council voted June 15 to approve financing for a 2026 Pierce custom enforcer aerial ladder truck earmarked for Station 4.
Staff reminded the council that the purchase and accessories had been approved earlier (March 15, 2024) at an approximate total of $2.15 million. Tonight’s financing resolution authorizes loan documents with Government Capital Corporation for $1,930,815.91 at an interest rate of 4.975 percent. Staff said the first payment will be deferred for two years, with the initial payment scheduled for June 25, 2028. Additional vehicle accessories and loose tools will be funded through a separate lease and staff expects to return to council in August for final items and costs.
Staff indicated the truck is expected to be housed temporarily at Station 3 until Station 4 is ready; lead time for aerial ladder trucks remains two to three years. The financing motion was made by Councilman Thomas, seconded by Councilman Massie, and carried unanimously.
