Budget committee hears plan to buy two fire trucks; members weigh capital reserve versus bond

Mont Vernon — Selectboard representative Jack Esposito briefed the Budget Committee on Jan. 28 about three proposed Fire Department warrant articles that would authorize the purchase or funding of new apparatus, telling members that committing to two trucks could yield a discount on the second vehicle.

Esposito said the town could use an existing capital reserve or bond for the purchase and suggested a plan to avoid adding to the capital reserve for at least 10 years if the reserve is expended now to buy trucks. "If we commit to purchasing 2 trucks, we can get a discount on the second," he said, and noted delivery timelines of roughly two years and five years for the vehicles.

Esposito cited a bond example, saying the bond rate is about 3.24% for a $1,800,000 bond. Committee members pressed on alternatives: Lorri Hayes asked whether federal grants had been pursued; Joan Cleary said grant applications have been tried but that the town has not yet been approved. Jack Esposito said Rebecca Schwarz has submitted grant applications on behalf of the Fire Department each year. Tim Berry noted vehicle prices have increased faster than bond interest rates and said, in the committee’s view, a multi‑purchase approach may be financially defensible when considering long lead times and rising costs.

Committee members asked staff to invite Fire Chief Jay Wilson to the Feb. 3 meeting to discuss the department’s warrant articles and to provide cost estimates and financing options. No formal vote on the warrants occurred at this meeting; the committee agreed only to review the forthcoming warrant drafts and hear the fire chief before final recommendations are made.

What’s next: Joan Cleary will scan and email draft warrant articles to the Budget Committee as they become available; petition articles are due to the Town Clerk by close of business Feb. 3, 2026.