Surry County Board of Commissioners Meeting Minutes March 2026
Ararat VFD Approved for Home Trust Bank Lease Purchase
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Description
The Board authorized Ararat Volunteer Fire Department to proceed with a lease purchase agreement with Home Trust Bank for up to $550,000, including a $75,000 down payment and 18 years of annual payments at $46,936.44, to finance a new fire truck. Home Trust Bank will provide specialized municipal financing for the apparatus purchase.
Contract Details
Contract Amount
Up to $550,000 lease purchase; annual payments of $46,936.44 over 18 years
Vendor
HOME TRUST BANK
Agency
Surry County, NC
Contract Type
FINANCIAL_SERVICES
Document Date
March 16, 2026
Contract Term
18 years
Renewal Date
2044-03-16
Renewal Info
Lease purchase agreement structured for 18 years; no renewal options mentioned.
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