Agenda Summary
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Requesting authorization to borrow $2,082,498 in a bond, and to appropriate $2,082,498 for the purchases of an Aerial Ladder Truck and a Rescue Truck for the Fire Department.
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Official Text
To the Honorable City Council:
The Mayor respectfully requests that this Council appropriate $2,082,498 in order to purchase a Ladder Aerial Truck and a Rescue Truck for the Fire Department. To meet this appropriation, the Treasurer will be authorized to borrow $2,082,498 as provided by MGL Chapter 44.
The purchase price of the Ladder Aerial Truck is $2,099,475. A total of $570,738 has already been applied to the purchase price with ARPA funds. The remaining balance of $1,528,737 will need to be borrowed and is part of this appropriation.
The purchase price of the Rescue Truck is $1,081,808.41. A total of $528,048 has already been applied to the purchase price with ARPA funds. The remaining balance of $553,760.41 will need to be borrowed and is part of this appropriation.
The ARPA Program expires on December 31, 2026. The manufacturers of the requested fire apparatus cannot guarantee delivery of the vehicles prior to December 31, 2026. This necessitates a borrowing appropriation to pay off the remaining balance.
Appropriate staff will be available to answer any questions about this bond you may have. Thank you for your consideration of this matter.
Respectfully,
Jake Wilson, Mayor