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Board approves five-year 4.95% loan from Sterling Bank for backhoe
Summary
Milltown trustees approved a loan disbursement from Sterling Bank to finance a backhoe at an interest rate of 4.95% over five years; the motion was moved by Keith Zygowicz and seconded by Jon Eckel.
The Town of Milltown board approved financing for a backhoe with a five-year loan from Sterling Bank at an interest rate of 4.95%. The minutes record that Keith Zygowicz moved to approve the loan disbursement and Jon Eckel seconded; the motion was recorded as passed.
The minutes do not include a loan principal amount, repayment schedule, or which account will service the payments. The board recorded the interest rate and term (4.95% for five years) but did not include a roll-call vote or additional financial conditions in the minutes.
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