The Town of Smithfield will borrow money from First Citizens Bank to purchase a dump truck for the Parks & Recreation Department plus an SUV for the Fire Department.
The town council agreed to borrow $88,500 for the two vehicles at an interest rate of 3.11 percent over a 59 month term. The Town will pay $7,498.46 interest on the loan.
First Citizens provided the lowest interest rate of three banks that submitted bids
