FINANCIAL_SERVICESAPPROVED

City of Munford Board of Mayor and Aldermen Special Called Meeting Agenda Oct 2025

Munford Approves $1.2M Water & Sewer Loan Agreement

Not to exceed $1,200,000City of MunfordPUBLIC BUILDING AUTHORITY OF THE CITY OF CLARKSVILLE TENNESSEEOctober 16, 2025

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Description

The City of Munford Board of Mayor and Aldermen approved a loan agreement with the Public Building Authority of the City of Clarksville, Tennessee, authorizing up to $1,200,000 for financing water and sewer system projects, with a fixed rate and a 20-year repayment period. The agreement includes authorization for the related municipal bonds to be issued and specifies applicable repayment and security terms. This action was adopted via Resolutions 2025-10-01 and 2025-10-02.

Contract Details

Contract Amount

Not to exceed $1,200,000

Vendor

PUBLIC BUILDING AUTHORITY OF THE CITY OF CLARKSVILLE TENNESSEE

Agency

City of Munford, TN

Contract Type

FINANCIAL_SERVICES

Document Date

October 16, 2025

Contract Term

20 years

Renewal Date

2045-10-16

Renewal Info

Loan agreement allows for interest rate reset every five years; includes maturity and repayment structure as set in the executed agreement. Refunding could occur if Put Option is exercised by the Purchaser. Prepayment and refinancing terms governed by Loan Agreement provisions.

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