WILTON — The Board of Selectpersons tabled a decision Tuesday to finance $500,000 for a new aerial firetruck.

The board asked Town Manager Rhonda Irish to discuss more options with Androscoggin Bank.

Paul Soucie, vice president and lending specialist for Androscoggin Bank, had provided rates but was unavailable over the holidays to discuss it more, Irish said.

After researching terms provided by four financial institutions, Irish narrowed it down to two for the board.

If the town borrowed $480,000, putting down $20,000 from the capital fund, Municipal Finance Corporation would offer the town a rate of 2.99 percent for an annual payment of $55,897 due in November, she said.

The corporation was recommended by the vehicle dealer and does about 80 percent of firetruck loans for municipalities, she said.

Without putting the $20,000 down, the rate on $500,000 would be 3.4 percent or about $2,500 more annually, she said. 

Androscoggin Bank provided a rate of 3.42 percent on a bond of $480,000, she said.

A lease would have required the first payment, $55,582, be due at closing and the town doesn’t have it, she said. There is time to budget the amount for November, she added.

Board of Selectpersons Chairman Scott Taylor suggested asking Androscoggin Bank if there was anything they could do to make their rate closer to the other option. He also wanted to wait until the full board was present before making the decision.

In other business, Town Clerk Diane Dunham reminded the board that a rabies clinic will be held from 1 to 3 p.m. Wednesday, Jan. 14, at the Town Office. 

Maine Woods Mobile Veterinary will provide the service for both cats and dogs. Pet owners from other towns are welcome to bring their animals, she said.

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