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City of <br />Pequot <br />Lakes = <br />AGENDA ITEM #7.3 <br />REPORT TO <br />CITY COUNCIL <br />Report Prepared by: Sandy Peine <br />Date: November 5, 2013 <br />Subiect: Fire Engine Update <br />Report: The City has received confirmation from the USDA <br />that it will receive $350,000 in the form of a loan at an interest <br />rate of 3.5 °Io to be used toward the purchase of a fire engine. <br />The total cost of the truck is $415,943.63. The City will be <br />ordering the truck through the HGACBuy Cooperative. <br />Council Action Requested: This is an update. No Council <br />action is requested. <br />