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Board approves $200,000 purchase of vac truck and street sweeper; discusses funding options
Summary
After reports that both vehicles were refurbished and came with one-year warranties, trustees approved buying the vac truck and street sweeper as a $200,000 packaged deal, agreeing to use a maturing CD and incoming EPA/Chastain funds rather than an 8% loan.
Trustee Paso and Foreman Wolfe described the poor condition of the village's current equipment and a recent inspection that found both the vac truck and the sweeper had been refurbished (new pumps, hoses, brushes and belts). Foreman Wolfe said the vac truck had about 18,000 miles, the sweeper had new working parts, and both come with a one-year warranty. Mark reported the old jet rodder was sold for $15,000 as a trade-in.
Treasurer Merano and trustees discussed financing options: cashing a maturing CD, waiting for an expected $281,000 refund from Chastain/EPA, and avoiding an 8% bank loan because of the high monthly payments. The seller offered a packaged price of $200,000 for both units; Trustee Paso moved to use the maturing CD now and then replenish with EPA/Chastain funds when they arrive, and the board approved the purchase (Gibson-Yes, Nelson-No, Lawrence-Yes, Dees-Yes, Paso-Yes, Warren-Yes).
