New Tecumseth Votes to Take Loan on Fire Apparatus

New Tecumseth (Ontario, Canada) Council voted in favor of taking a $745,000 debenture to pay for an aerial truck. In August, council approved purchasing the replacement truck upfront, a move town staff advised against since it depleted the town’s fleet reserve.

This week as council discussed the details of a preliminary report from CAO Terri Caron for next year’s budget, which stresses some of the longterm financial challenges the municipality faces — specifically the need to build reserves.

Coun. Paul Whiteside, who rallied council support in August to pay for the truck in full by depleting the fleet reserve, maintains his original position. He argued that paying for the vehicle upfront was the best deal for the town in the long run, calling it the “wise thing to do.”

Originally, the bulk of the cost for the truck, $573,294, was slated to come from the fleet reserve, with the rest coming from the 2012 surplus.

For more information, view

No posts to display