Cheyenne (WY) City Council recently voted to approve a nearly $15 million loan that will go toward the construction of three new fire stations, the replacement of old apparatus, and a new irrigation system for the city’s cemeteries, reports capcity.news.
The loan, for $14,890,000, is an interfund transaction within the city—it’s going from the One Percent Sales Tax Capital Projects Fund to the Special Purpose Option Sales Tax Capital Projects Fund, the report says.
Related: Cheyenne (WY) Breaks Ground for Fire Station
Officials say the loan must be repaid within four years and that interest will accrue at a 1% rate until fully repaid.
The first new fire station is expected to be shovel-ready by June, the report says.