The Greenwich township committee voted earlier this month to buy a used 100-foot aerial platform fire truck for $325,000 from Brindlee Mountain Fire Apparatus. The cost includes delivery from the Union Grove (AL) company. The township committee on Friday approved financing for the lease purchase from Government Capital Corp., according to a recording of the meeting.
The township will pay off the truck over seven years at an interest rate of 3.591 percent.
Chief Financial Officer Lorraine Rossetti told the committee that the manufacturer indicated the current truck has a life expectancy of eight more years. She suggested the shorter payment plan based on the projected lifespan and reduced interest.
Pohatcong Township is also in the process of buying a new fire truck for about $500,000. The pumper would replace one from 1994.
Council passed a measure Nov. 12 to seek bids for financing and was expected to finalize the details of the purchase at a special meeting Monday.
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