RESOLUTION:
PURPOSE:
SPONSOR(S):
COMMITTEE
ASSIGNMENT:
FISCAL NOTE:
LEGISLATIVE YEAR 2021
R-21-105
Authorizing the Mayor and City Treasurer to issue be mds not
to exceed the amount of one million five hundred thousand
dollars ($1,500,000) for the purchase of two engine puemper
trucks for the Fire Department
Mayor Jim Donchess
It is anticipated that the bond would be sold in FY 22/23 for a fifteen
(15) year term. It is estimated the interest rate will be approximately
2.5% and the total cost of the bond will be $1,800,000 including interest.
The average annual payment will be approximately $120,000 with the
beginning years at a higher amount. Engine 3 was approved in the FY
21 CERF schedule/budget and Engine 5 is listed in the CERF report for
FY 22. Both Trucks are being purchased at the same time so as to
achieve cost savings of approximately $190,000 to $130,000.
ANALYSIS
This resolution authorizes the City to issue and sell general obligation bonds up to $1,500,000
for the purchase of two engine trucks for the Fire Department. Engine 3 pumper truck was
approved in the FY 2021 Capital Equipment Reserve Fund plan and Engine 5 pumper truck is
listed in the FY 2022 Capital Equipment Reserve Fund plan and is being bought at the same time
so as to achieve in order to achieve cost savings of approximately $100,000 to $130,000.
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 Services Division
By: /s/John Griffin
Office of Corporation Counsel
(Nowe. Clarke
By:
Date: Jens 2, GoW
