Pays for building; asking for levy
HILLIAR TOWNSHIP — The Central Ohio Joint Fire District Board of Directors got the ball rolling Thursday evening on the $880,000 project to remodel and expand the fire house and also took the first step to place a levy on the May ballot, primarily aimed at improving firefighter pay and benefits and expanding staffing.
The board first paid off the balance of the $270,000 owed to Hilliar Township for the station. That was paid using the $30,000 already budgeted for this year’s payment, plus money from the Boyd Trust.
The board then agreed, on a 3-0 vote, to accept the terms of a loan offered by First-Knox National Bank. The loan is for a rate of 3.85 percent (2.03 percent above the Federal Home Loan Bank Fixed Rate Advance Index) for five years, after which it can be adjusted, remaining at 2.03 percent above the FRA rate.
Payments will be $63,500 annually while the rate remains at 3.85 percent, based on a 20-year amortization.