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Council approves $125,000 one-year line of credit solicitations to fund fire truck and other purchases
Summary
The council authorized solicitations to Ergo Bank and Horicon Bank for a one-year $125,000 line of credit to fund a fire truck, fire station approach repairs and a police vehicle; the motion carried 6-0.
The council approved bid solicitations to Ergo Bank and Horicon Bank for a one-year line of credit in the amount of $125,000. The minutes record that the line of credit is intended to fund the purchase of a fire truck, repair the fire station approach, and purchase a police vehicle. "Motion Kazda/Lager to approve the bid solicitations for Ergo Bank and Horicon Bank for a one-year line of credit of $125,000 to fund the purchase of the Fire Truck, Fire Station approach repair and the Police Vehicle. Motion carried 6-0," the minutes state.
No loan terms beyond the one-year solicitation and intended uses were recorded in the minutes. The council's action authorizes staff to pursue the solicitations and report back as required by procurement rules and committee oversight.
