Selma Approves Financing For New Bucket Truck

The Town of Selma has awarded a bid to KS Bank to finance the purchase of a new bucket truck for the electric department.

KS Bank provided the lowest interest rate of 2.64 percent. BB&T submitted a bid of 3.19

Town Manager Elton Daniels

percent.  First Citizens Bank declined to bid because the total purchase price was less than $250,000.

The Town of Selma will make five yearly loan payments of $23,773.98 to KS Bank for the truck.

Town Manager Elton Daniels recommended the council select KS Bank for the loan, which was unanimously approved by the council.