Cambria Village Board approves borrowing $375,000.00 for fire department tanker truck
Posted: Fri May 31, 2024 12:11 am
Motion by Glen/Nathan to approve Borrowing Resolution 24-01 as presented (see below) with a five year loan amortized over twenty years at 5.7% interest. Carried.
Borrowing Resolution #24-01
WHEREAS, the Village of Cambria has a need to update our fire department tanker truck to better serve
our community and surrounding area; and
WHEREAS, the Village of Cambria struggles under levy limits and budget restraints to continue to
maintain our current assets; and
WHEREAS the cost of a fire department tanker truck is a significant investment; and
WHEREAS, the Village of Cambria is committed to maintaining and improving our community fire
protection; and
NOW THEREFORE BE IT RESOLVED that the Village of Cambria authorizes borrowing funds from National
Exchange Bank to pay for the cost of purchasing a new fire department truck, not to exceed $375,000.00
with estimated interest at 5.7% for a five-year loan amortized over 20 years.
-
- fire.jpg (77.79 KiB) Viewed 13006 times
WHEREAS, the Village of Cambria has a need to update our fire department tanker truck to better serve
our community and surrounding area; and
WHEREAS, the Village of Cambria struggles under levy limits and budget restraints to continue to
maintain our current assets; and
WHEREAS the cost of a fire department tanker truck is a significant investment; and
WHEREAS, the Village of Cambria is committed to maintaining and improving our community fire
protection; and
NOW THEREFORE BE IT RESOLVED that the Village of Cambria authorizes borrowing funds from National
Exchange Bank to pay for the cost of purchasing a new fire department truck, not to exceed $375,000.00
with estimated interest at 5.7% for a five-year loan amortized over 20 years.