FINANCIAL_SERVICESPENDING

Escrow Agreement to Defease Colson Caster Bonds

Jonesboro is set to execute an Escrow Deposit Agreement to defease $15 million in taxable economic development revenue bonds previously issued for the Colson Caster Project. Colson Caster LLC will repurchase the project real estate at a price sufficient to fully retire the Series 2022A and 2022B bonds and associated costs by April 1, 2027.

Status
PENDING
Document date
May 25, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Colson Caster Llc
Agency
City of Jonesboro · AR

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TerraCycle logo
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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
$11,000,000 Series 2022A Bonds; $4,000,000 Series 2022B Bonds; not to exceed $9,000,000 Series 2022C Bonds; escrow deposit amount equal to defeasance cost (unspecified)
Contract type
FINANCIAL_SERVICES
Contract term
Bonds originally issued April 19, 2022; defeasance and redemption of Series 2022A and 2022B by April 1, 2027
Renewal date
2027-04-01
Renewal
Escrow Deposit Agreement remains in effect until all Series 2022A and 2022B bonds are retired, with redemption of all outstanding bonds called for April 1, 2027.
Document type
Agenda
Source document
City of Jonesboro Finance & Administration Council Committee Meeting Agenda 2026-05-26

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Jonesboro?

Colson Caster Llc was awarded this financial services contract by City of Jonesboro, as recorded on May 25, 2026. The contract value is $11,000,000 Series 2022A Bonds; $4,000,000 Series 2022B Bonds; not to exceed $9,000,000 Series 2022C Bonds; escrow deposit amount equal to defeasance cost (unspecified).

How much is the Colson Caster Llc contract with City of Jonesboro worth?

The Colson Caster Llc contract with City of Jonesboro is valued at $11,000,000 Series 2022A Bonds; $4,000,000 Series 2022B Bonds; not to exceed $9,000,000 Series 2022C Bonds; escrow deposit amount equal to defeasance cost (unspecified), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agenda record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in City of Jonesboro Finance & Administration Council Committee Meeting Agenda 2026-05-26 (Agenda), dated May 25, 2026 from City of Jonesboro. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Colson Caster Llc hold?

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

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What is City of Jonesboro currently buying?

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