Title
Fire Apparatus Purchases
Body
SUMMARY:
The Crossville Fire Department requests your approval to proceed with the purchase of a new fire pumper to replace the reserve engine, a 1993 Lavergne pumper. The 1993 fire pumper will be traded in against the overall purchase price of the new apparatus (-$12,000). The new fire pumper will be equipped with an upgraded foam system and a larger water tank which will greatly enhance our response to airport emergencies and will be fully equipped as a rescue engine. Our 1998 KME fire pumper will be placed into reserve status which we feel will extend its usable life expectancy.
In addition, we request your approval to purchase a new 107-foot aerial ladder truck to replace the 1994 existing 75-foot KME aerial. The new 107-foot aerial will provide adequate height coverage for Cumberland Medical Center and several of our industries. The existing 1994 ladder truck will be placed into reserve status and used as needed.
Both of these purchases will be financed over 10 years and purchased through the HGACBuy Consortium. Current pricing on the consortium will increase approximately 10% after October which will increase the overall cost approximately $185,000. The total for both apparatus minus the trade in value of the 1993 Lavergne is $1,605,172.54 and the total to equip both apparatus is $162,047.00. The total amount to be financed is $1,779,219.54. A cost summary sheet with totals and finance options with annual payments is attached.
Finance options proposed (based on $1.5M) are:
First Bank 2.72% annual payment of $172,000
TN Municipal Bond Fund 2.67% annual payment of $173,000
Pierce Equipment 2.92%
BUDGET ACCOUNT: Costs to be financed over ten years.
Recommended Action
NECESSARY COUNCIL ACTION:
1. Approval to purchase both trucks, as outlined with payment made by November prior to budget amendments passing 3rd reading.
2. Determine financing plan