Commissioners approve $179,700 excavator purchase and financing plan
Summary
Jay County approved purchase of a Kobelco excavator for $179,700 and financing through First Financial Bank (5.85%) with a $30,000 down payment from the Backhoe Repair & Replacement Fund (Resolution 2025‑10).
The Jay County Commissioners on July 21 authorized purchase of a Kobelco excavator for $179,700 and approved financing terms under Resolution 2025‑10.
County Surveyor Brad Daniels recommended the Kobelco from Southeastern Equipment because it was available immediately and included a five‑year, 5,000‑hour warranty. Daniels proposed a $30,000 down payment from the Backhoe Repair & Replacement Fund and financing the remaining $150,000 in biannual payments over five years. He presented bank quote comparisons: Farmers & Merchants Bank 6.15%; Farmers State Bank 6.1%; First Financial Bank 5.85%; First Bank of Berne 6.1%; and First Merchants Bank 6.0%. Daniels recommended First Financial Bank for the lowest rate.
Commissioner Doug Horn moved to approve the purchase and loan as specified in Resolution 2025‑10 with First Financial Bank; Duane Monroe seconded and the motion passed unanimously.
AI generated
The text on this page is AI generated. Summaries, highlights, analysis, and video transcripts are all produced from the original source material.
AI can make mistakes, so if you spot one, and we will fix it for everyone.
Note: the source content is unaltered by us. Any content source we link to, be it a video, an audio recording, or a document, is presented exactly as its publisher released it. That publisher is usually a government body, sometimes an individual official or another organisation.
