Thursday, April 25, 2024 | St. Lawrence County, NY
STOCKHOLM -- The Stockholm town board approved a $160,000 bond last month to pay for a new highway department truck the board agreed to buy in July 2019. The total cost of the truck is $240,000. The …
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STOCKHOLM -- The Stockholm town board approved a $160,000 bond last month to pay for a new highway department truck the board agreed to buy in July 2019.
The total cost of the truck is $240,000. The town has been approved for an $80,000 grant through the USDA.
The bond will be able to be paid over 15 years at an interest rate of 2.735 percent.
The town's initial plan was to completely repay the bond over two years, however due to the current economic situation caused by the pandemic they intend to make the minimal $13,693.15 payment this year. The town has accounted for that minimal payment in its budget, which is due on Sept. 1.
