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Council approves transfer to create revolving loan fund and discusses EMS, fire support
Summary
Council approved a $1,000,000 transfer from the gaming fund to a revolving loan fund and introduced a related $1,442,530 appropriation to create the revolving loan fund; council members said the fund will support EMS and fire equipment financing at reasonable rates.
Council approved Ordinance 56, a gaming fund supplemental appropriation of $1,000,000 for transfer to a revolving loan fund, and later advanced Ordinance 57, which creates a revolving loan fund budget and appropriates $1,442,530 to seed it.
A council member described the revolving loan fund as a tool to help EMS and fire services borrow for expensive equipment and repair parts at reasonable rates, noting the city has used similar funds successfully. “This gives them a tool to be able to borrow money, at a reasonable rate. It gets paid back in, and we get to loan it to somebody else,” the member said.
The measures moved through recorded roll-call votes with members expressing support; council members said the fund would support county first responders and equipment readiness, and signaled appetite for using the mechanism for capital needs across jurisdictions.
