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Select Board accepts $90,000 State House loan note for EMS response vehicle
Summary
The Select Board voted to accept and sign a $90,000 serial State House loan note (three $30,000 notes at 4% interest) to finance a new EMS response vehicle; initial outlays came from the EMS Enterprise Fund and repayment will begin in 2028 from retained earnings.
The Select Board accepted and signed a serial State House loan note totaling $90,000 to fund a new EMS response vehicle, with Greenfield Cooperative Bank awarded the bid at a 4% interest rate for three $30,000 notes. Chief Matt Wolkenbreit explained initial funds for the vehicle were taken from the EMS Enterprise Fund and that retained earnings will be used to pay off the notes beginning in 2028.
Michele Turner, Collector/Treasurer, and Town Administrator Andrea Llamas reported the other bid rates were 4% and 5% and said the only administrative fee is a small financial-advisor charge; Chief Wolkenbreit added EMS received $16,000 through a Massachusetts Certified Public Expenditure program that can return to the department. The Board approved accepting and signing the loan note (motion by Duclos, seconded by Campbell).
