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Shelton adopts agreement to share 5% of rescue-vehicle billings to pay bonded debt
Summary
The Village of Shelton adopted Resolution No. 25-04-10A directing the Shelton Fire Department to remit 5% of rescue-vehicle service payments to the village for quarterly application to outstanding bonded indebtedness; the board approved review and termination conditions tied to bond payoff.
The Village of Shelton Board of Trustees on April 10 adopted Resolution No. 25-04-10A creating a revenue-sharing arrangement for an emergency rescue vehicle purchased by bond issue. Under the agreement, the Shelton Fire Department will continue billing for rescue-vehicle services and remit 5% of each payment to the Village.
Those funds will be applied quarterly to pay the outstanding bonded indebtedness on the rescue vehicle until the bond is repaid. After the bonded indebtedness is paid in full the sums will be maintained separately for future capital expenses requested by the Fire Department and approved by the Village. Either party may request a review of the 5% split with 60 days’ notice; the agreement may be terminated by either party with 90 days’ written notice only after the indebtedness has been paid in full.
Trustee Oberg moved to approve the resolution and Trustee Jensen seconded; Trustees Oberg, Jensen and Keslar voted aye and Trustees Roe and Rabbe were recorded absent. The resolution is recorded as Resolution No. 25-04-10A in the minutes.
