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rI J/rc ~sw,n.~"~ <br />Orange Grove <br />Volunteer Fire Company <br />Linwood Futrelle <br />6500 Orange Grove Road <br />Linwood@unc edu <br />April 22, 2004 <br />Barry Jacobs <br />Orange County Commissioners <br />P.O. Box 8181 <br />Hillsborough, NC 27278 <br />RE: Orange Grove Volunteer Pire Company <br />Dear Barry, <br /> <br />President - Board of Directors <br />1 fillsba ouglr, NC 27?7S <br />919-967-5858 <br />I am writing on behalf of the Orange Grove Volunteer Fire company. We have purchased a new <br />Ferrara pumper, replacing a 1983 unit that no longer met our needs. The total cost of the new unit <br />was $290,704. We borrowed $250,000 from Central Carolina Bank on a seven year note at .3.9% <br />We pushed this purchase forward one year to take advantage of historic low interest rates. The <br />payments on the loan were incorporated into our anmtal budget with no increase in our district tax <br />rate and will not cause any service reductions. I am working with the county budget office to see all <br />legal and fiscal requirements are met. <br />CCB would like a certificate of approval signed by "Chief Elected Official of Orange County" This <br />would certify that that we are an approved "fire district" and have authority to borrow the money. <br />This in no way creates any liability on the part of Orange County nor will the county has any <br />responsibility for payment on the loan. <br />Please feel free to contact me if you need more information. <br />Linwood(ci)unaedu or 919-962-5265.. <br />Sincer <br />Li ood Futrelle <br />President -Orange Grove Board <br />