City of Springfield Agenda Packet 2026-06-15
Veregy Project Financing Lease Pending Approval
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Description
City Council will authorize execution and delivery of an Equipment Lease/Purchase Agreement with Banc of America Public Capital Corp for up to $2,300,000 over a maximum term of 20 years at not more than 5% interest, as part of the Veregy project financing.
Contract Details
Contract Amount
Not to exceed $2,300,000
Vendor
BANC OF AMERICA PUBLIC CAPITAL CORP
Agency
City of Springfield, MI
Contract Type
FINANCIAL_SERVICES
Document Date
June 15, 2026
Contract Term
Term not to exceed twenty (20) years
Renewal Info
Initial capital lease/purchase agreement for 20-year term; details for renewal or payoff not specified.
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