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Bonding in the amount of $947,620 was approved on first reading of Ordinance 1613-16, with includes a down payment of $47,390 for a total cost of $995,200.
The bonds will be issued for the acquisition of a fire truck, fire fighting equipment and apparatus for the Saddle Brook Fire Department and all necessary work, materials, equipment, labor and necessary incidentals.
The truck will replace a 1993 engine, said Business Administrator Peter Lo Dico.
This is the third year the fire chief has asked for a replacement vehicle, which is currently using a hose transferred from a 1989 truck, Lo Dico said.
The timing is right for the bond anticipation notes, Lo Dicor said, with interest rates being 1/2 percent.
Some needed equipment, like Scott Bottle Air Packs, are included in the bonding.
This bond ordinance will take effect 20 days after final adoption by the Mayor and Council, as provided by the Local Bond Law.
Truck specifications will then be discussed and go out for bid.
The Saddle Brook Fire Department is made up of about 90 all-volunteer members divided into three companies, according to Lo Dico.
The fire department has six trucks, plus a utility vehicle, which provide service to approximately 6,000 homes, with a mix of apartment buildings and condos. The tallest structures reach 12 stories.
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