City of Gulf Breeze Agenda 2026-06-01
Gulf Breeze Amends Synovus BAN to $16M for Facility Project
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Description
City of Gulf Breeze approved an amendment reducing its Bond Anticipation Note with Synovus Bank from $32 million to $16 million for interim financing of the Thomas E. Lambert Reclamation Facility. Approximately $6 million will be repaid upon receipt of a state revolving fund loan, with the remaining principal to be refinanced or paid off by August 2027.
Contract Details
Contract Amount
$16,000,000 (maximum principal amount)
Vendor
SYNOVUS BANK
Agency
City of Gulf Breeze, FL
Contract Type
FINANCIAL_SERVICES
Document Date
June 1, 2026
Contract Term
August 20, 2024 – August 20, 2027
Renewal Date
2027-08-20
Renewal Info
Amendment aligns with new SRF funding; principal to be repaid or refinanced upon project completion in August 2027.
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