Gallatin Board of Aldermen approve lease for new Caterpillar wheel loader

Caterpillar 926M Wheel Loader

The Gallatin Board of Aldermen approved a lease for a new loader for the city at a meeting Monday evening. The vote was for a seven-year lease to purchase a 926M Caterpillar wheel loader at the best available financing option.

City Administrator Lance Rains presented two quotes for a loader and currently available financing options prior to the vote. The quote for the Caterpillar loader was from Foley Equipment for $156,576.81. The other quote was from Victor L. Phillips for a Case 621 G for $160,55. Public Works Director Mark Morey reported the city’s current loader needs a new transmission. The estimated cost for repairs is $25,00 to $35,000.

There was no update on selling generators, and the power plant’s roof still needs to be replaced.

Josh Royeton with Edward Jones presented current retirement plans for employees. The board discussed differences between Edward Jones and Local Government Employees Retirement System.

Bill Weber and Jay Turner from Fletcher -Reinhardt shared information on and advanced metering infrastructure metering system. The new system would allow reads to be collected electronically from the Gallatin City Hall, speed up billing, and indicate real-time water leaks and electrical outages.

The board approved moving the next meeting to May 29th due to Memorial Day.

A closed session was held with no announcement made.