Agenda Summary
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Requesting approval to appropriate $532,449 from the Capital Projects Stabilization Fund to the Fire Pumper Bond Fund 5187 for the purpose 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 $532,449 from the Capital Projects Stabilization Fund to Fire Pumper Bond Fund 5187 for the purpose of funding a Fire Pumper purchase with capital cash in lieu of borrowing. Said amount of $532,449 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 $624,193 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