FARMINGTON — A delay in the delivery of a new fire truck should save the city some interest expenses.
The city council voted Tuesday on a lease purchase agreement with Zions Bank for purchase of a new interface fire truck, which was approved in October for $339,273.
A delay in delivery of the equipment allowed city leaders to change the amount of financing needed for the truck. The original lease agreement called for financing $150,000 of the purchase, but that was modified to $100,000 in the final agreement. Keith Johnson, the city’s finance director, estimates the city saved between $5,000 and $10,000 in financing charges as a result of the delay.
Once specialized nozzles for high-pressure booster lines and radio systems are installed, the new fire unit cost is expected to come in at close to $350,000, which is how much was budgeted for the purchase in the 2011-12 fiscal year budget.
City Manager Dave Millheim said the equipment will be the first of its kind in Davis County and said officials will plan some sort of community event to introduce the public to the new firefighting option.
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