Southeast Thurston Fire Authority bought a new fire truck this week with help from the Washington State Treasurer's Office, according to a state news release.
The fire authority financed $900,000 to buy a new Rosenbauer Commander EXT Pumper fire truck, according to the release. This was made possible by its participation in the Treasurer's Local Option Capital Asset Lending (LOCAL) Program.
Fire Chief Kris Kruse called this a "significant purchase" for the district, which serves about 35,000 people in the cities of Yelm and Rainier as well as the surrounding unincorporated areas.
"We provide critical fire and emergency medical services to thousands of Thurston County residents, and do so working within a budget, which is why we partnered with the Treasurer's Office to finance the vehicle at lower interest rates than what would be available otherwise," Kruse said.
The LOCAL Program has facilitated nearly $37 million in financing this week for local fire protection districts, state agencies and one public college. Washington State Treasurer Mike Pellicciotti said in the news release that this type of partnership exemplifies "efficient and effective governing."
"Access to comparably low-interest financing can help local governments of every kind manage budgets and provide the critical services their communities need," Pellicciotti said in the release.
The program works by pooling financing requests from state agencies and local partners into a publicly sold security, which are sold as Certificates of Participation, according to the release. Essentially, state agencies and local partners use the program to buy equipment and real estate with the state's credit.
"This process leverages Washington's strong ratings to help local governments secure financing at the lowest possible interest rates — ultimately reducing costs and saving taxpayer dollars," the news release says.
This isn't the first time Southeast Thurston Fire Authority participated in the program. The district used it in 2022 to buy an ambulance, according to the release.
Two other fire districts participated in the program this week. Pend Oreille County Fire Protection District 2 and Ferry/Okanogan Fire Protection District 14 each used it to finance a new ambulance, the release says.
Additionally, the release notes the City of Sunnyside in Yakima County financed a new custom pumper truck through the program.
Local municipalities and state agencies financed about $56.5 million in property and equipment through the program in fiscal year 2023, according to the release.
