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Selectboard authorizes $110,000 loan application for F-600 vehicle
Summary
The Selectboard authorized the Town Treasurer to sign a five-year loan application with Community Bank NA for $110,000 at 4.99% to purchase an F-600, with level principal payments of $11,000; motion passed unanimously.
The Selectboard unanimously authorized the Town Treasurer to sign a loan application with Community Bank NA for a five-year loan of $110,000 at a 4.99% interest rate for purchase of an F-600. The board recorded that the loan will use level principal payments of $11,000, semi-annual payment structure. The motion to authorize the application was made by Scott Henkels and seconded by Ted Austin and approved without dissent.
No additional details about equipment specifications, trade allowances, or the impact on the capital plan beyond the loan terms were discussed in public minutes; the board's action authorized the Treasurer to proceed with the application paperwork.
