Sheffield Lake Finance and Audit Committee Minutes April 2026
Sheffield Lake reviews $995K fire engine purchase
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Description
Sheffield Lake’s Finance and Audit Committee reviewed plans to purchase a new state-bid fire engine from E1 for about $995,000, financed over seven years at 4.54% interest with payments starting in 2027. Funds would be held in escrow until the city takes delivery of the new apparatus in two to three years.
Contract Details
Contract Amount
$995,000
Vendor
E1
Agency
Town of Sheffield, OH
Contract Type
EQUIPMENT
Document Date
April 21, 2026
Contract Term
Two- to three-year wait for delivery; 7-year loan financing beginning with first payment in 2027
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