Creative Financing Could Dodge Bonding Debt On New Tolland Fire Truck

TOLLAND, CT — Though the Tolland Town Council has approved borrowing for the new fire truck for the local department, a creative way to finance it might bypass long-term debt on its $750,000 price tag.

Council Chairman Steve Jones said Thursday town officials will be looking at possibly funding the purchase with the use of coronavirus relief funds from the The American Rescue Plan Act of 2021. Tolland received roughly $4.2 million in ARPA funds and has spent about $1.5 million on items like a street sweeper and vaccination clinics.

He said the fire truck would like qualify as a "safety" measure taken by the town.

"The hope is to avoid long-term debt on some of the equipment procurements as part of out capital plan," Jones said.

The council recently authorized town officials to issue and sell notes and bonds in an amount not to exceed $1,197,366 to pay for several capital items.

The capital projects include:

• $750,000 for acquisition of a fire rescue truck
• $140,000 for resurfacing of track at Tolland Middle School
• $115,488 for acquisition of a lawn mower
• $191,878 for the construction of an ADA-compliant walkway at Cross Farms Recreation Center

Even if ARPA funds can be used for the fire truck purchase, the remaining items would require a bond sale, likely in September, Jones said.