The Knox City Council members entered into a lease to purchase a truck for the street department.
The Board of Works approved quotes for the truck $118,808.75 in December but papers could not be signed until after the first of the year. It will be financed through Republic First National Bank at 3.11 percent interest. The quotes for the truck and for the interest rate came in lower than originally thought.
Mayor Rick Chambers explained that the truck couldn’t be ordered until the lease was approved. There is money available in the street department’s budget to make the down payment of $30,000 with additional payments of $30,986.78 with the final payment in 2016. The truck will be delivered in June.
