July 9, 2009
The town of Williston lent itself money to complete the timely purchase of a new fire truck.
The Selectboard last week authorized the town to borrow $485,000 from a fund for unfinished projects to cover the cost of the vehicle. The move was needed because the fire truck is ready for delivery and must be purchased immediately but bond funding has not yet been procured.
Selectboard Chairman Terry Macaig said the loan, which is only needed until bond funding is finalized later this month, will be paid back with interest.
Such internal loans are occasionally needed when there is a delay in financing for a purchase or project.— Greg Elias, Observer staff