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Freeburg board approves $90,000 backhoe purchase, finances $35,000 at 4.5%
Summary
Trustees approved buying a $90,000 backhoe from McCoy Construction Forestry with $55,000 down and a 12-month $35,000 loan from Citizens Bank at 4.5% interest.
The Village of Freeburg approved the purchase of a $90,000 backhoe at its Oct. 6 board meeting.
Trustee Tom Carpenter said financing terms from Citizens Bank would be $35,000 financed for 12 months at an interest rate of 4.5% with a $55,000 down payment. Carpenter moved to purchase the backhoe from McCoy Construction Forestry under those terms; the motion passed by unanimous roll call (6 ayes, 0 nays).
The purchase was presented as a replacement/capital equipment item for Public Works. The motion record does not list further conditions or an installation timeline; the Public Works Director and Village Administrator will coordinate procurement and delivery.
