Title
Vote on a request by the Pittsboro Fire-Rescue Department to post notice of a public hearing, appoint Chief Daryl Griffin, Pittsboro Fire-Rescue Department, to conduct the public hearing, and secure financing in a sum not to exceed $1,433,477.00 through tax exempt borrowing.
Abstract
Action Requested: Vote on a request by the Pittsboro Fire-Rescue Department to post notice of a public hearing, appoint Chief Daryl Griffin, Pittsboro Fire-Rescue Department, to conduct the public hearing, and secure financing in a sum not to exceed $1,433,477.00 through tax exempt borrowing.
Introduction & Background: Technical Corrections Bill HR4333 (Attachment "A") regarding tax exempt borrowing requires that specific procedures be followed when a fire department desires to obtain tax exempt financing. Prior approval of the Governmental Body of the borrowing must be given, notice of a public hearing posted, appointment of a person to conduct the hearing, and a public hearing conducted. The Pittsboro Fire-Rescue Department has advised that they desire to borrow a sum not to exceed $1,433,477.00 under tax exempt borrowing status (Attachment "B) for the purchase of one (1) aerial apparatus and related equipment for the apparatus.
Discussion & Analysis: The Pittsboro Fire-Rescue Department is seeking approval of tax exempt financing for the purchase of one (1) pieces of emergency aerial apparatus. The purchase of the aerial apparatus will provide the first aerial apparatus in the Circle City Fire District and the Town of Pittsboro municipal limits. Funds will also be utilized for the purchase of related equipment for the emergency apparatus. If desired, the Chatham County Fire Marshal will attend the meeting.
How does this relate to the Comprehensive Plan:
Budgetary Impact: None
Recommendation: Vote on a request by the Pittsboro Fire-Rescue Department to post notice of a public hearing, appoint Chief Daryl Griffin, Pittsboro Fire-Rescue Department, to conduct the...
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