What it is:
A municipal expenditure to obtain a new 2,000-gallon tanker truck to better equip the Davidson Fire Department to meet coverage area responsibilities in Davidson and in the North Star Fire District, which includes areas of Mecklenburg County around the town served by the Davidson department.
What it costs:
The price for the firefighting and tanker apparatus is $334,488.
Last week, Davidson amended its 2017-18 General Fund to indicate acquisition of a $248,488 loan from Branch Banking and Trust (BB&T) to complete the tanker purchase. The town will also apply $50,000 from Mecklenburg County toward the purchase.
In September 2017, the Davidson Town Board approved the tanker purchase and, after distributing a request for financial bids, received seven offers. The selected BB&T $284,488 loan is for a 9.5 year term at 3.16 percent interest. The loan payment terms call for annual payments of $30,065.67. The debt service will be funded directly by money distributed to Davidson by Mecklenburg in exchange for fire protection coverage in the county.
“The new equipment will be used to enhance service in the areas we cover where there are no fire hydrants,” Davidson Deputy Chief Joel Cherry said. “The tanker will carry twice as much water as our current largest tanker.”
The unanimous decision to authorize the acquisition was made at the town board meeting on March 13. Agendas, minutes and videos of Davidson meetings are available at www.cidavidson.nc.us.