New Albany (IN) may choose to finance the purchase of a new ladder truck for the New Albany Fire Department.
With all members voting in favor, the New Albany City Council moved forward with a $2.25 million appropriation on Thursday for paving, the purchase of a salt truck for the New Albany Street Department and the fire truck.
But Mayor Jeff Gahan’s administration is expected to bring financing proposals from local banks to the council before the final vote on the measure to foot the $1.1 million fire truck.
Those who support the idea said financing the purchase would leave New Albany with about $2.1 million on hand in Economic Development Income Tax and Riverboat funds by the end of the year, as buying the truck outright would cut into the city’s cash reserves.
Shane Gibson, an attorney with the city’s legal department, said funds may be needed later in the year to purchase more road salt, and to possibly implement projects that may be suggested by Jeff Speck’s street study that is being prepared.
Council members didn’t commit to the financing option, but agreed to consider the bids to be garnered by the administration.
The council was in majority agreement that a new truck is needed. The city is using a ladder truck borrowed from Sellersburg, as its other ladder truck is being repaired.
NAFD Chief Matt Juliot said a city the size of New Albany needs two ladder trucks for safety.
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