RESOLUTION:
PURPOSE:
SPONSOR(S):
COMMITTEE
ASSIGNMENT:
FISCAL NOTE:
LEGISLATIVE YEAR 2020
R-20-008
Authorizing the Mayor and City Treasurer to issue bonds not
to exceed the amount of one million four hundred thousand
dollars ($1,400,000) for the purchase a new 2020 Pierce Arrow
XT red aerial ladder truck for the Fire Department
Alderman-at-Large David C. Tencza
Alderman Richard A. Dowd
It is anticipated that the bond would be sold in FY 21 for a fifteen
(15) year term. It is estimated the interest rate will be
approximately 3.0% and the total cost of the bond will be
$1,736,000 including interest. The average annual payment will be
approximately $115,700 with the beginning years at a higher
amount. The vehicle was approved in the FY 20 CERF
schedule/budget. The interest rate and total cost are conservative
estimates. This vehicle is included in the city most current bond
sales plan.
ANALYSIS
This resolution authorizes the City to issue and sell general obligation bonds up to $1,400,000 for the
purchase a new 2020 Pierce Arrow XT red aerial ladder truck for the Fire Department. The
ladder truck was approved in the FY 2020 Capital Equipment Reserve Fund plan.
Pursuant to Nashua City Charter §54-a, this resolution requires a “duly advertised public
hearing”. Also see NH RSA 33:9, which requires a 2/3 vote of all the members for passage of
this resolution.
Approved as to account
structure, numbers and
amount:
Approved as to form:
Financial seryices Division
Ak x $A
By:
Office of Corporation Counsel
py: Wynne 9 Ce
Date: l Araiarern P0ID
