Lowville Fire Department seeking financing for new ladder truck
By Whitney Randolph, Watertown Daily Times, N.Y. | |
McClatchy-Tribune Information Services |
The truck the department uses is 25 years old and ready for replacement. The department is looking for ways to finance the new truck with a low interest rate.
The department is interested in a truck that costs
It was the bank's recommendation for the department to go through the village to secure the financing, because the village is able to get a lower interest rate through bonding.
Mayor
The village would be the owner as long as the bond is outstanding and the truck would go under the village's insurance. If the fire department were to borrow the money itself, it would be at a higher interest rate, but the ownership and insurance would be in the department's name.
Should the fire department decide to go through the village, the
Village Attorney
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