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Village of Taylor board backs 15-year fixed loan recommendation for fire truck financing
Summary
At a special April 28 meeting, the Village of Taylor board recommended that the Taylor Fire & EMS District pursue a 15-year fixed-rate loan to consolidate a building loan and fire truck purchase into a $325,000 loan; the village's downpayment share is $13,308.40 and the refinancing would raise annual debt service by about $4,000 or more.
At a special meeting April 28, the Village of Taylor board voted to recommend a 15-year fixed-rate loan option to the Taylor Fire & EMS District to finance a new fire truck and refinance the village building loan.
President Joe Kniseley told the board that the April 15 meeting of the fire district established a $38,800 downpayment per municipality, and that the Village of Taylor's budget share of 34.3% makes its downpayment $13,308.40. Clerk/Treasurer Tammy Weisman said funds are available in the village money market account at Waumandee State Bank to cover that amount.
Kniseley said the fire department will seek financing for the remaining $175,000. Security Financial presented three loan options that would refinance the existing building loan together with the truck purchase into a single $325,000 loan; the village received a breakdown of how each option would affect the 2027 budget. Weisman told the board the current village budget is tight and estimated the consolidated loan would increase annual debt service by roughly $4,000 or more, requiring the board and staff to identify budget reductions before next year.
After discussion, the board approved a motion to present to the Taylor Fire & EMS District that a 15-year fixed-rate loan best fits the Village of Taylor's budget; the motion was seconded by Cierra Rose and recorded as carrying with four yes votes. The minutes do not name individual yes/no votes. The board adjourned at 5:30 p.m.
The Village of Taylor did not itself approve debt at the special meeting; it voted to recommend a loan option to the Fire & EMS District and to cover its share of the downpayment from existing village funds.
