Franklin Park approves borrowing for fire equipment

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Updated: March 24, 2012 8:03AM

In an effort to build up village savings, Franklin Park trustees have approved issuing bonds to pay for several vehicles and Fire Department equipment.

Trustees approved issuing $402,882 in general obligation bonds. The bonds will be repaid over a 96-month period.

“We’re conserving cash,” Comptroller Ron Heller said, adding the interest rate is 3.3 percent.

Village President Barrett Pedersen said that was an “exceptionally low interest rate.”

The village will use money from the bond sales to pay for three police cruisers, two pick-up trucks, a dump truck, three passenger vehicles and turnout gear (outer clothing) for firefighters.

Resident Kurt Kugelberg objected not to the bond issue, but to it being voted on at a recent meeting with no apparent time for consideration by trustees and only two minutes for public input.

The bond issue was one of 14 items put on the Feb. 6 meeting’s consent agenda section. In a consent agenda, trustees cast a single vote for or against all items rather voting on each item.

“It should go under new business (in meeting agendas) and to the Committee of the Whole (before a meeting),” Kugelberg said. “Major expenditures should be considered separately.”