Carroll County Commissioners Award $750,000 in Loans to Taneytown and Lineboro Fire Companies for New Vehicles – Baltimore Sun
The Taneytown and Lineboro Volunteer Fire Companies have a little more money in the bank to purchase new equipment, thanks to the Carroll County Board of Commissioners.
The commissioners unanimously approved low-interest loans to each business for a total of $750,000, at a meeting Thursday.
The Taneytown Volunteer Fire Company received a $400,000 loan from the county to fund part of the purchase of a new Seagrave Engine Tanker, while the Lineboro Volunteer Fire Company received a $350,000 loan to purchase a new ambulance.
Jennifer Hobbs, county comptroller, said the loans allow fire companies to take advantage of the county’s funding program and earn a low interest rate.
The current interest rate is 1.56%, based on the county’s November 2021 bond issuance, but the final loan interest rate will be determined once the bonds are issued, Hobbs said.
Loan repayment terms for both companies will be seven years and the county will hold a mortgage lien on the purchased equipment, Hobbs said. The Taneytown Company has no outstanding loans with the County, but the Lineboro Company has three outstanding loans with the County totaling $1,492,112.
Lineboro is up to date with all of its payments to the county, Hobbs said.
Commissioner Eric Bouchat, a Republican who represents District 4, asked Hobbs how comfortable she was with adding the Lineboro company to her debt to the county.
“I’m comfortable,” she said. “I looked at their financial statements. I think they are sufficient.
Nathan Saurusaits, Lineboro’s EMS captain, said the order for the new ambulance has already been placed.
“We expect delivery around March 2023,” he said. “So it’s already in production.”
James Parker, treasurer of the Taneytown Volunteer Fire Company, said the company was replacing a 22-year-old motor tanker, the 54 motor, with a new tanker, used primarily to haul thousands of gallons of water and equipment for fighting fires.
“It’s basically what we need to replace what we have,” he said.
The actual cost of the new motor tanker is $900,000, so the fire company will need to fund $500,000 of the purchase price. Parker said the society will use proceeds from its annual carnival and hold other fundraisers. Once the order was placed, Parker said it would take two years for the tanker to arrive in Taneytown.
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Taneytown also has a six-person rescue truck, 500-gallon motor truck, eight-person ladder truck, two-person brush truck, five-person utility truck. people, a service truck and two ambulances.