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Council approves Pinnacle financing for new fire truck, awards Highway 70 waterline contract and concurs with DOT on 9th Street project
Summary
Council voted to accept Pinnacle Financial Partners financing for a $459,000 fire‑truck purchase, awarded the Highway 70 waterline construction contract to Cooper Construction ($796,345) and concurred with NCDOT on the 9th Street Bridal project while asking staff to return with funding options for the town’s 20% match.
Council took several formal actions on capital items, including financing a new fire truck, awarding a waterline construction contract, and concurring with a state transportation bid that requires a local match.
On a motion to adopt financing terms, the council approved awarding an installment purchase contract to Pinnacle Financial Partners for $459,000 to finance a 1,500‑gallon mini bumper fire truck; staff had compared three proposals and recommended Pinnacle for the lowest quoted rate (4.65%). The resolution authorized the town manager to execute closing documents.
Council also reviewed bids for the Highway 70 waterline construction. Staff recommended awarding the lowest responsible bidder, Cooper Construction, for $796,345; the town expects FEMA reimbursement (staff said approximately $900,000 will be sent back into the water fund) and proceeded to award the contract.
On the 9th Street Bridal (NCDOT) project, staff outlined a projected total cost near $1.96 million and told council the town’s 20% match would be roughly $391,527. DOT asked for concurrence by July 15; council concurred with the bid award and directed staff to return in August with a budget amendment and options for identifying the local match from the general fund, pay‑as‑you‑go reserves, or next year’s capital allocation.
Council also authorized staff to pursue initial testing and limited work to reactivate two inactive wells, with staff noting federal/state grant funds could be used for well work. All of these votes were taken by voice with aye votes recorded; no roll‑call tallies of individual yes/no votes were entered into the transcript.
