Excerpts from the Chicagotribune.com:

The Oak Forest City Council voted 5-0 Tuesday to accept a loan of $350,000 from the Illinois State Fire Marshal’s fire truck and ambulance revolving loan program, which ultimately is overseen by the Illinois State Finance Authority.

The loan will provide the money to Oak Forest at a 1.89 percent interest rate, totaling just over $36,000, to be repaid during the next 10 years. Fire Chief Patrick Duffy said they were informed back in August 2018 the money was available, and were notified last month their application for the loan had been approved.

City officials had been stashing money aside so that they could purchase a new firetruck in about two years. But the loan will enable the city to make the purchase later this year and the fact that Oak Forest had been saving money to eventually make the purchase means the city is in a good position to finance this purchase.

The firetruck will replace their oldest piece of equipment, which the fire department has had in use since 1999. That truck is currently out-of-commission and undergoing repairs.

City officials have to vote again later this year to approve the actual purchase of the new fire vehicle.