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Caroline authorizes five‑year financing plan for Western Star snow plow truck
Summary
The town board approved a plan to finance the remaining balance on a 2025 Western Star snow plow truck, authorizing a $67,723 down payment from highway unreserved funds and a five‑year installment financing agreement; the motion carried unanimously.
The Caroline Town Board adopted Resolution 78 authorizing the Supervisor to sign a five‑year installment financing plan with Daimler Truck Financial Services USA, LLC to pay the remaining balance on a 2025 Western Star snow plow truck. The board also approved using $67,723 from the highway unreserved fund balance as a down payment.
The resolution states a remaining balance of $245,522 on the truck, and Supervisor Witmer estimated the net cost of installment financing at roughly $10,000 when weighing a quoted interest rate of 6.06% against expected town fund earnings of about 3.45%. The motion (moved by Witmer and seconded by Brown) carried with four ayes: Witmer, Kelley‑Mackenzie, Brown and Bates and no nays.
