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Board endorses revolving-loan refinance request to help 7th District replace aging fireboat
Summary
The Emergency Services Board voted to endorse a request from the 7th District Volunteer Fire Department to refinance a commercial loan for about $509,000 under the updated revolving-loan limits, allowing them to secure a lower interest rate and free funds to replace a fireboat over 25 years old.
The Emergency Services Board voted April 8 to endorse a revolving-loan refinance request from the 7th District Volunteer Fire Department and forward the endorsement to the St. Mary’s County commissioners.
A board member read the request—endorsed by the Fire Board Association—seeking to refinance approximately $509,000 under the new program ceiling (the county updated the program to permit up to $2,000,000 per loan and expanded overall capacity). According to the request, refinancing through the county would lower the department’s interest rate and allow the unit to maintain its schedule to replace a fireboat that has exceeded its expected service life (more than 25 years).
A motion to endorse the refinance request was moved, seconded and carried by voice vote.
Minutes from the meeting indicate the endorsement will be forwarded to the commissioners for final action; the board’s vote was an advisory endorsement rather than a direct appropriation of county funds.
The transcript does not include a recorded roll-call vote or names of individual board votes beyond the voiced "Aye" responses; final authorization and any loan terms will be set by the commissioners.
