WILTON — The Board of Selectpersons voted Tuesday to fund the new quint firetruck through a loan with Key Bank in Wilton and the equipment reserve fund.
After consulting with other funding sources, the local KeyBank offered the best interest rate at 2.53 percent, Town Manager Rhonda Irish said.
Based on borrowing $480,000, the annual payment for 10 years would be $54,441.25, she said. This represents nearly $14,000 in savings over the next-closest funding source, she said.
The first payment will be made in November, allowing time to budget for it, she told the board.
The remaining $20,000 of the $500,000 truck cost will be taken from the equipment reserve fund, Irish said.
In other business, Irish updated the board on Maine Department of Transportation plans for paving this summer.
The entire length of Main Street will receive a thin layer of pavement, Irish said. This will be done after the Blueberry Festival, which takes place over the first weekend in August.
Paving is also expected for Route 156, also known as Depot Street, from Steve’s Market to Academy Hill School.
The department is still considering work on the intersection of Routes 2 and 4 and Route 156 for this summer. A meeting will be planned this spring for the department to explain its plans, she said after the meeting.
A representative from the town’s assessing firm, O’Donnell Associates, has started a revaluation of properties this winter, she said. The revaluation does not go into effect until 2016. No changes will be made until the whole town revaluation is completed, she said.
Three people are needed for the Finance Committee. The positions are for one, two and three years.
The board also reappointed Norman Gould to serve on the committee.
This is a good opportunity for people with questions about the town budget to learn the budgeting process, Selectperson Tom Saviello said.
Those interested can contact Irish for more information.
Town Clerk Diane Dunham asked the board to remind residents that dogs need to be licensed by Friday, Jan. 30.
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