LIVERMORE – Selectpersons on Monday awarded the contract to finance the new backhoe/loader to Androscoggin Bank, town Administrative Assistant Kurt Schaub said Tuesday.
The JCB backhoe/loader from the Oliver Stores in Farmington costs $67,873, he said, and the interest rate on the four-year loan is 4.06 percent. The total interest is $6,889, he said.
Voters in June approved borrowing up to $69,614 to buy the machinery to replace the town’s 12-year-old loader, which needs between $6,000 to $10,000 in repairs.
Schaub said the new backhoe/loader will be available for use on Friday.
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