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Selectboard authorizes $150,000 loan at 5% for one year to refurbish fire truck
Summary
The board authorized signing loan paperwork for a $150,000 loan at 5% for a one-year period to refurbish a fire truck; Tyler Mitchell abstained from the recorded motion.
Cote Griggs moved that the Selectboard sign loan paperwork for a $150,000 loan at 5% for a one-year term to refurbish a fire truck; Clayton Woodworth seconded and the motion passed with Tyler Mitchell recorded as abstaining. The transcript records the loan amount ($150,000), interest rate (5%), and the one-year term.
The Selectboard did not detail the lender or repayment source in the meeting minutes. The board approved execution of loan documents on the record; administrative follow-up will include signing and processing the paperwork.
