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Stuart approves financing and budget amendment for two fire apparatus
Summary
The commission authorized a non-ad valorem revenue note (not to exceed $1.92 million) to finance two fire apparatus and approved a related budget amendment; staff explained the purchase was budgeted earlier (PO issued in FY24) but financing is timed so payments begin near delivery.
The commission approved Resolution 48-2026 authorizing a non-ad valorem revenue note of up to $1,920,000 to finance the acquisition of two fire apparatus and then adopted Budget Amendment No. 4 to appropriate the funds. Commissioners asked about lead times and financing mechanics; staff said one apparatus is due in July 2026 and another in November 2026, and that the city used a purchase-order/authorizations process in FY24 but is arranging financing close to delivery to avoid paying interest for multiple years prior to receipt.
City staff and the fire chief explained the city uses a fire-assessment fee and other sources to pay such notes and that the structure mirrors prior apparatus financing. Commissioners approved both the financing resolution and the budget amendment unanimously; staff said finance and procurement will present alternative capital-funding options at upcoming budget workshops.
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