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Taylorville approves purchase and financing for new KME pumper after discussion of loan terms
Summary
Council approved purchase of a 2025 KME custom pumper and authorized borrowing; staff said the bank will provide a drawdown credit loan converting to a five‑year loan at 3.5% after delivery. Vote passed 8–1.
The council approved an ordinance to purchase a 2025 KME custom chassis pumper for the fire department and to authorize borrowing to fund the purchase. City staff described a drawdown credit loan arrangement that becomes a five‑year loan at 3.5% with semiannual payments once the vehicle is delivered and accepted by the fire department.
A staff representative said, “what they're gonna give you is a drawdown credit loan that you will only draw down when the fire pumper truck has been delivered to the city and the city fire department accepts it, then it'll be converted to that 5 year, 3.5 percent semiannual loan payments.” The ordinance passed 8–1; Alderman Dortunez voted no.
