LIVERMORE — Selectpersons approved Androscoggin Bank’s proposal of 2.78 percent interest to finance the new dump, plow truck, town administrative assistant Kurt Schaub said.

The town received one quote for the financing, though another bank was also asked to submit one, he said.

The board made the decision Tuesday.

The total amount to be financed for the 2012 Volvo truck and equipment is $123,904.86. Over the five-year loan, the total interest will be $10,345.01, Schaub said.

The total cost of the truck and equipment was $173,904.86, not factoring in the $50,000 trade-in value for the Sterling truck, he said.

Voters approved the purchase in June 2011.

The truck is at H.P. Fairfield in Skowhegan being outfitted with a dump body, snowplow and other equipment. It’s due to be completed about the end of January.

Financing will not begin until the truck is accepted and other details are completed.

dperry@sunjournal.com