City of Biddeford City Council Meeting Agenda April 2026
City services SRF pumps upgrade note with MMBB
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Description
Biddeford continues servicing its 2016 SRF Pumps Upgrade-Force Main Repair direct borrowing from MMBB, originally $655,197 at 1.00% interest. FY2027 debt service is $15,495.40 in principal and $2,320.50 in interest, with maturity on October 1, 2035.
Contract Details
Contract Amount
$655,197 original issue; FY2027 payment $15,495.40 principal and $2,320.50 interest
Vendor
MMBB
Agency
Biddeford Housing Authority, ME
Contract Type
FINANCIAL_SERVICES
Document Date
April 28, 2026
Contract Term
February 10, 2016 – October 1, 2035
Renewal Date
2035-10-01
Renewal Info
Direct borrowing SRF-related note maturing October 1, 2035; no renewal provisions are mentioned.
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