FINANCIAL_SERVICESAPPROVED

Magnolia village Awards Financial Services Contract to Bank of Magnolia (June 2025)

The Council passed Resolution 2025-12 to enter into a 10-year, 6% interest loan with the Bank of Magnolia to fund the village sidewalk project. The resolution authorizes execution of the financing agreement, though the principal amount was not specified in the minutes.

Status
APPROVED
Document date
June 18, 2025
Contract type
FINANCIAL_SERVICES
Vendor
Bank of Magnolia
Agency
Magnolia village · IL

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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
10 year 6% loan (amount not specified)
Contract type
FINANCIAL_SERVICES
Contract term
10 years at 6% interest
Renewal
Fixed-term 10-year loan; no renewals indicated.
Document type
Minutes
Source document
magnolia-village-council-meeting-minutes-june-18-2025_3d8.pdf

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Magnolia village?

Bank of Magnolia was awarded this financial services contract by Magnolia village, as recorded on June 18, 2025. The contract value is 10 year 6% loan (amount not specified).

How much is the Bank of Magnolia contract with Magnolia village worth?

The Bank of Magnolia contract with Magnolia village is valued at 10 year 6% loan (amount not specified), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record.

Where was this contract approved?

This contract appears in magnolia-village-council-meeting-minutes-june-18-2025_3d8.pdf (Minutes), dated June 18, 2025 from Magnolia village. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Bank of Magnolia hold?

Bank of Magnolia may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Bank of Magnolia's profile

What is Magnolia village currently buying?

Explore Magnolia village's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View Magnolia village's profile

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