The Town of Oliver is looking at borrowing $400,000 to purchase a new pumper engine for the fire department.
Town council will vote on Oct. 12 on whether to give final approval to have the regional district borrow the money on their behalf.
Following the alternative approval process held between May and July, the town received no response forms opposing the borrowing.
If town council gives their final approval, the regional district will borrow the funds from the Municipal Finance Authority for the town on a 20-year repayment term.
The actual engine itself is expected to cost $655,931 based on a bid from HUB Fire Engines and Equipment, which council will also vote on whether to approve or not on Oct. 12.
In addition to the $400,000 in funds borrowed for the purchase, the Oliver Fire Protection District will provide around $328,000 towards the purchase.
Town staff are also recommending including a performance bond as part of the purchase agreement.
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