Town of DeWitt Town Board Agenda May 11, 2026
Solvay Bank Offers 3.70% Rate on $5M Water Project BAN
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Description
Solvay Bank quoted a 3.70% interest rate for a $5,000,000 Bond Anticipation Note to finance the Town of DeWitt’s 710' Pressure Water Project, with the rate locked for 30 days from May 7, 2026. The BAN will help cover project construction costs and pre-ordered equipment.
Contract Details
Contract Amount
$5,000,000 at 3.70% (BAN)
Vendor
SOLVAY BANK
Agency
Dewitt Wds - South, NY
Contract Type
FINANCIAL_SERVICES
Document Date
May 11, 2026
Contract Term
30-day rate lock as of May 7, 2026; BAN term not specified
Renewal Info
Short-term BAN financing; rate quote valid for 30 days and may be refinanced or converted to long-term debt later.
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