Selectboard debates loan terms and warrant language for new fire pumper

The board spent a substantive portion of the meeting on the proposed purchase of a new fire pumper and how to fund it. Staff outlined financing options, including a five‑year loan at roughly 3.5% and a seven‑year loan near 4%, and presented a range of potential vehicle prices in the mid‑hundreds of thousands. Members discussed using a $100,000 reserve as a down payment or reducing financing needs by transferring undesignated funds into the fire equipment reserve over time.

Selectboard members agreed the warrant should authorize the purchase and allow entry into a loan, with exact terms and a cap to be specified before publication. One member framed the approach as authorizing purchase up to a limit, saying the article would "authorize the purchase of the vehicle up to [a specified] amount" and that loan terms should be included in the warrant. Staff were directed to draft clear warrant language for the town‑meeting article and to provide figures for the next circulation.