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Committee accepts $125,000 Horicon loan at 3.99% to fund fire truck, station repairs and a police vehicle
Summary
The committee accepted a Horicon loan bid of $125,000 at 3.99% to purchase a fire truck, repair a fire station approach and buy a police vehicle. The motion was moved by David Abendroth, seconded by Dennis Treimstra, and carried.
On Feb. 3 the Finance, Personnel & Safety Committee voted to accept a Horicon loan bid for $125,000 at an interest rate of 3.99 percent to fund capital purchases and repairs. The motion was made by David Abendroth and seconded by Dennis Treimstra; minutes record that the motion carried.
The loan proceeds are earmarked in the minutes for three uses: purchase of a fire truck, repair of the fire station approach, and purchase of a police vehicle. The minutes do not list repayment terms beyond the stated interest rate, nor do they provide an amortization schedule or identify which department will service the debt in city accounts.
