A loan for the purchase of Palmerton’s new pumper for its fire department is complete.

Borough Manager Donna McGarry informed borough council on Thursday that the firetruck purchased from KME in Nesquehoning is expected to arrive by June.

Last month, council on a 6-0 vote agreed to take out a 10-year loan in the amount of $688,000 from First Northern Bank and Trust, Palmerton, at an interest rate of 1.49%.

After that meeting, McGarry said that council increased the millage in the debt reduction fund by one-half mill, which will be used to pay the loan.

McGarry said at that time loan payments will start this year, and payments will be about $74,000 per year.

McGarry said the borough didn’t qualify for a USDA loan, because it needed to apply for the funding before committing to the purchase.

Since council authorized the firetruck purchase in April, McGarry said the borough couldn’t apply for USDA funds.