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DFD Memo 2025-12 <br /> Page 2 <br /> months. Initiating this purchase will ensure the city maintains dependable frontline and reserve <br /> aerial capability, safeguarding service levels for residents and businesses. <br /> The total cost of the new apparatus will not exceed $2,160,376.00, which includes $50,000 <br /> designated for required outfitting and equipment. <br /> Once the new truck is delivered in 2029/2030, financing will be put out for proposals to local <br /> banks as a priority. The proposal would include options for a financing period between 5-7 years, <br /> like other purchases in the past. <br /> With this resolution presented to Council for approval, Council will grant the City authority to <br /> secure debt financing of a not to exceed the amount of$2,160,376.00 with the lowest annual <br /> interest rate available, with the City ability to select a debt repayment term of 5-7 years. <br /> Repayment terms will be selected from the most favorable terms quoted by the financing <br /> institutions. <br /> POTENTIAL OBJECTION: None <br /> STAFF REFERENCE: Neil Elder, Fire Chief, 424-2811, Toby Jackson,Assistant Fire Chief, <br /> 424-2811. <br /> Chief Elder will be at the council meeting to answer any questions the Council may have about <br /> this purchase. <br /> BUDGET/TIME IMPLICATIONS: The Apparatus will be delivered and operational in <br /> 2029/2030. <br />