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St. James shortens repayment after lower-than-expected cost for breathing apparatus purchase
Summary
The council approved Resolution 11241 to amend a prior interfund loan for self-contained breathing apparatus (SCBA) after staff reported the actual purchase cost was considerably less than estimated; repayment was shortened from 20 to 15 years and the resolution passed unanimously.
The St. James City Council unanimously approved Resolution 11241 on Nov. 6 to amend a prior interfund loan that funded the purchase of self-contained breathing apparatus (SCBA) for the fire department.
Staff told council the ordered equipment arrived at a lower actual cost than the earlier estimate. The meeting transcript records the finalized amount reported in session as about $263,021, lower than the previous ceiling used when the loan was authorized. Because the purchase cost was lower, staff recommended shortening the repayment period from 20 years to 15 years; council approved the amendment without opposition.
Why it matters: The fire department’s SCBA equips firefighters to operate in smoke and hazardous atmospheres; shortening the loan term changes long-term repayment scheduling for the city’s electric fund, which is the interfund source for the loan.
Next steps: City staff provided an amortization schedule for council review and the resolution will be implemented by the finance and electric departments.
