City of Lincoln City Council Meeting Agenda Packet May 2026
City Approves $241K Loan for Community Pavilion
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Description
The City of Lincoln approved a $241,000 loan from United Community Bank to finance the Community Pavilion project. The financing carries a four-year term at an interest rate of 4.91%.
Contract Details
Contract Amount
$241,000.00
Vendor
UNITED COMMUNITY BANK
Agency
Town of Lincoln, IL
Contract Type
FINANCIAL_SERVICES
Document Date
May 18, 2026
Contract Term
4 year period at an interest rate of 4.91%
Renewal Date
2030-04-20
Renewal Info
Four-year bank loan at 4.91% interest; no renewal or refinancing terms were noted in the minutes.
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