City of Beach Council Minutes April 2025
$2.8 Million Utility Improvement Bond Approved
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Description
The City of Beach accepted a $2,819,000 Utility Improvement Bond, Series 2025, from the North Dakota Public Finance Authority to finance water infrastructure upgrades, maturing in September 2055.
Contract Details
Contract Amount
$2,819,000
Vendor
NORTH DAKOTA PUBLIC FINANCE AUTHORITY
Agency
City of Beach, ND
Contract Type
FINANCIAL_SERVICES
Document Date
April 7, 2025
Contract Term
Date of first principal advances (est. 2025) – September 1, 2055
Renewal Date
2055-09-01
Renewal Info
Final maturity September 1, 2055; principal and interest payments outlined in loan agreement; includes provisions for loan forgiveness, administrative fee, compliance with state and federal regulations.
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