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Council hears financing options for proposed fire truck purchase
Summary
A city financial advisor told Weyauwega council members the city could use a State Trust Fund Loan at about 5.75% over 10 years to finance a new fire truck and recommended comparing that to local lenders for potentially lower rates.
Paul Boening of financial advisory firm Ehlers told the Weyauwega Common Council on Feb. 16 that the city could finance a new fire truck through the State Trust Fund Loan and that "current rates are at 5.75% for a 10-year loan." He recommended the city also consult local financial institutions as they "may be able to provide a lower interest rate."
The presentation outlined borrowing options and indicated staff should compare the State Trust Fund offer to local banks before finalizing financing. No formal borrowing decision was made at the meeting; the presentation served as a briefing on available terms and next steps.
