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Huachuca City staff report approval of $4.53 million GADA loan for heavy equipment
Summary
Town Manager Suzanne Harvey told the council the town was approved for a $4,529,000 low-interest long-term loan from the Greater Arizona Development Authority to acquire heavy equipment for landfill and public works.
Town Manager Suzanne Harvey updated the Huachuca City Council on Feb. 26 that the town has been approved for a $4,529,000 low-interest, long-term loan from the Greater Arizona Development Authority (GADA) to acquire heavy equipment for landfill and public works operations.
Harvey told council this funding will allow the town to purchase badly needed equipment and to budget better for the purchase and maintenance of those assets. The minutes record the loan amount as $4,529,000.00 and describe the funding as a low-interest, long-term loan from GADA. The minutes do not specify exact equipment models to be purchased or the loan’s financing schedule.
Council discussed the update; the minutes do not record a council vote on accepting funds because the item was an update on eligibility/approval rather than a town action to receive the loan. Any formal borrowing or procurement would require subsequent council action and reporting from staff.
