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Council tables ambulance refinance pending comparable five-year quote
Summary
After a presentation from Country Roads Leasing, the council tabled consideration of refinancing ambulances 716 and 717 until the vendor provides a comparable five-year quote; current financing through WesBanco carries a 5.5% rate for five years, and Country Roads offered 4.85% for eight years.
Recorder Natalie Haddix moved to table consideration of a refinancing proposal for ambulances 716 and 717 until the proposer can provide a comparable five-year quote; Councilor Charlene Louk seconded and the motion passed unanimously.
Jeff Smell of Country Roads Leasing presented a refinancing option that, as presented, would extend repayment to eight years at a 4.85% interest rate. According to the presentation, the town's current payment with WesBanco is at a 5.5% interest rate for a five-year term. Council members asked for a like-for-like five-year quote to compare total cost and annual debt-service impacts before deciding.
The item was tabled to allow staff and the vendor to return with a comparable five-year offer; no financing decision was made at the meeting. The council's roll-call votes were recorded as unanimous among those present.
