Norwood City Council Meeting Agenda February 24 2026
Norwood to Finance Fire Truck Via $800K Loan with Home Trust Bank
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Description
The City of Norwood will enter into a loan agreement with Home Trust Bank, not to exceed $800,000, to finance the purchase of a used 2017 Pierce ladder fire truck. Loan term will be either 2 or 3 years at a fixed interest rate of 4.37%.
Contract Details
Contract Amount
Not to exceed $800,000
Vendor
HOME TRUST BANK
Agency
City of Norwood, OH
Contract Type
FINANCIAL_SERVICES
Document Date
February 24, 2026
Contract Term
2 or 3 years (loan for equipment purchase)
Renewal Date
2029-02-19
Renewal Info
Financing agreement is for a fixed term (2 or 3 years); no renewals mentioned. At term end, loan will be paid off if all payments met.
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