Agenda - 03-06-2014 - 6j - Laserfiche WebLink

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Attachment 1 Street Address(Station 1) Mailing Address: AN 4012Whitfield Road P.O.Box 16484 Chapel Hill,NC 27514 Chapel Hill,NC 27516 €4: Phone:(919)493 1409 www.newhopefire corn Fax (919)419-0241 New Hope Volunteer Fire department of Orange County, Inc. February 2,2014 Mr. Paul Laughton Orange County Financial Services P.O. Box 8181 Hillsborough, NC 27278 Dear Paul, The New Hope Volunteer Fire Department of Orange County, Inc., is in the process of purchasing a new elliptical tanker to replace an aging tanker that has been sold due to reoccurring mechanical problems. Specifications for a new tanker were written and sent to five vendors for bids. Four vendors submitted bids and 4 Guys Fire Trucks was the low bid and selected as the vendor for the purchase. The bid cost of the new tanker was$261,996.00. The New Hope Fire Department Board of Directors approved the 4 Guys bid and has authorized the president to sign the contract with 4 Guys. The department will make a down payment of up to $100,000 and will finance approximately $160,000 from the Local Government Federal Credit Union. The terms of the loan is for 10 years with semi- annual payments with a 2.75% interest rate. These figures may vary slightly depending on the actual closing costs date. A public hearing was advertised in the New of Orange and the public hearing was held on October 7, 2013. No residents were present and no written comments were received. The fire Department is requesting that the County Commissioners approve the financing arrangements to purchase the new tanker in order to meet the IRS Codes when a tax supported fire department enters into a financing arrangement. The public hearing notice, minutes of the public hearing and the board of directors loan authorization resolution are attached. If you have questions or need additional information, please contact me at 919- 351-2423 or by email: howard.prattCcD-newhopefire.com. Thank you, Howard Pratt,President