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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.
