Agenda Summary
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Requesting approval to appropriate $545,985 from the Capital Projects Stabilization Fund to Fire Pumper Bond Fund 51855 for the purposes of funding a new fire pumper.
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Official Text
To the Honorable City Council:
The Mayor respectfully requests that this Council appropriate $545,985 from the Capital Projects Stabilization Fund to Fire Pumper Bond Fund 51855 for the purpose of funding a Fire Pumper purchase with capital cash in lieu of borrowing. Said amount of $545,985 was slated to be borrowed in the city's annual borrowing market event in June 2026 for expenses already incurred. By paying down these expenses with capital cash, the City will save an estimated $640,061 in debt service over the life of the loan. This action also opens up capacity in future years for additional capital projects.
Appropriate staff will be available to answer any questions you may have. Thank you for your consideration of this matter.
Respectfully Submitted,
Jake Wilson, Mayor