FINANCIAL_SERVICESAPPROVED

City of Austin Bond Purchase and Funding Agreement September 2025

Amegy Bank to Purchase $14.8M Austin Housing Bonds

$14,800,000.00 (Construction Bond Loan) converting to $5,300,000.00 (Permanent Bond Loan)City of Austin cityZIONS BANCORPORATION N.A. DBA AMEGY BANKSeptember 1, 2025

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Description

The Austin Housing Finance Corporation entered into a Bond Purchase and Funding Agreement with Zions Bancorporation, N.A. dba Amegy Bank to purchase $14.8 million of multifamily housing revenue bonds for the Sycamores at Pleasant Valley project, converting to a $5.3 million permanent bond loan. The bank will service and administer the Bond Loan under terms running through a final maturity of September 1, 2046.

Contract Details

Contract Amount

$14,800,000.00 (Construction Bond Loan) converting to $5,300,000.00 (Permanent Bond Loan)

Vendor

ZIONS BANCORPORATION N.A. DBA AMEGY BANK

Agency

City of Austin city, TX

Contract Type

FINANCIAL_SERVICES

Document Date

September 1, 2025

Contract Term

Construction Bond Loan term through Conversion Date; Permanent Bond Loan term from Conversion Date to September 1, 2046

Renewal Date

2046-09-01

Renewal Info

The Bond Loan includes an option to renew or extend certain terms as described in Section 5.5 (Renewal Option); any renewal would adjust the construction-to-permanent structure but the outside Maturity Date remains September 1, 2046. No automatic renewal is stated for the bond purchase commitment itself, which is tied to this issuance.

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