HOULTON, Maine — Town Councilors are expected to vote Monday evening to take out a substantial loan to complete what officials say are much needed projects in the community.
Before they vote, however, the council will hold a public hearing on the proposal to borrow $194,000 over five years from Machias Savings Bank at an interest rate of 1.79 percent.
Payments would be an estimated $44,000 per year.
Much of the money will finance equipment purchases and repair work in various town-owned buildings.
Among the major projects to be financed through the loan are $40,000 for repairs to the elevator in the town office and $38,000 for pavement sealing equipment for the public works department. The Police Department also is in need of a new police cruiser, which will cost $29,000. Part of the loan, $10,000, would be set aside for bathroom repairs at the Just for Kids playground building in Community Park.
At the Millar Arena, $25,000 would be placed into the hockey board replacement account and $22,000 would go for a new, computerized temperature control system. A piece of the loan, $12,000, would replace a compressor for the ice rink, and $1,000 would be set aside to purchase a new skate sharpener.
Various other projects, such as repairs and replacement work, also would be covered by the funds.
The first payment would not need to be made until 2014.
Monday’s meeting will start at 6 p.m. at the town office.