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Council approves bid solicitations for $125,000 one-year line of credit for capital purchases
Summary
Council authorized bid solicitations from Ergo Bank and Horicon Bank for a one-year $125,000 line of credit to fund a fire truck purchase, Fire Station approach repair and a police vehicle.
The council approved soliciting bids from Ergo Bank and Horicon Bank for a one-year line of credit of $125,000 to fund purchase of a fire truck, repair of the Fire Station approach and purchase of a police vehicle (motion Kazda/Lager). The motion carried 6-0.
The minutes record the intended purposes for the line of credit but do not include loan terms beyond the one-year length or a timetable for selecting a lender; council action authorized the solicitation of bids only.
