On Thursday, the Pierce Enforcer was parked behind one of the city’s fire stations, pending a decision by city council on how to pay for it.
Normally the city would have borrowed the money as part of its annual financing. But the truck price, coupled with borrowing to fund sewer improvements, would take the city above a $10 million limit qualifying it for the lowest interest rates.
“In order to save money on the cost of issuance, it would be advisable to pay cash,” City Auditor Sharee Dick said in a memo to city council.
The city fund would be reimbursed in April with proceeds from financing of $4.6 million in road and sewer projects.
The ordinance supporting this plan was discussed Tuesday and is scheduled for a vote next month.
To make room for the new truck, the city plans to raise the clearance on bays at the city's downtown station as part of facade work to be done in concert with construction of a new LCNB Corp. administrative center in downtown Lebanon.
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