Policy established for loans to fire departments
In light of a pending loan requests from volunteer
fire departments in the community, the county board agreed it should
establish a policy on loans, to ensure consistency for all requests.
On March 20, the board approved a loan policy for volunteer fire
departments needing money for equipment and buildings. Loans of less
than $100,000 will be given at 0 percent interest. Loans above
$100,000 will have an interest rate of 2 basis points below the 10-
year T-bond rate, but not less than 1 percent. Loan terms can be up
to 25 years.