FINANCIAL_SERVICESPENDING

Mount Morris Plans $7.5M Junior Lien Bond Sale

Through Ordinance 26-02, the City of Mount Morris plans to issue up to $7.5 million in Water Supply System Junior Lien Revenue Bonds, Series 2026, to the Michigan Finance Authority at a fixed rate not to exceed 1% to finance water system improvements. The bonds will amortize with semiannual interest beginning April 1, 2027 and principal installments through 2065, secured by net system revenues and revenue sharing pledges.

Status
PENDING
Document date
July 7, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Michigan Finance Authority
Agency
City of Mount Morris · MI

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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
Not to exceed $7,500,000
Contract type
FINANCIAL_SERVICES
Contract term
Principal installments payable October 1, 2028–October 1, 2065; interest payments April 1 and October 1 starting April 1, 2027
Renewal date
2065-10-01
Renewal
New junior lien revenue bond issuance up to $7,500,000 under the DWSRF program; callable only with Authority consent; secured by net system revenues and pledged state revenue sharing; no renewals described, but additional equal-standing junior lien bonds may be issued subject to conditions.
Document type
AgendaPacket
Source document
City of Mt. Morris Agenda Packet 2026-07-07

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Mount Morris?

Michigan Finance Authority was awarded this financial services contract by City of Mount Morris, as recorded on July 7, 2026. The contract value is Not to exceed $7,500,000.

How much is the Michigan Finance Authority contract with City of Mount Morris worth?

The Michigan Finance Authority contract with City of Mount Morris is valued at Not to exceed $7,500,000, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in City of Mt. Morris Agenda Packet 2026-07-07 (AgendaPacket), dated July 7, 2026 from City of Mount Morris. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Michigan Finance Authority hold?

Michigan Finance Authority may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Michigan Finance Authority's profile

What is City of Mount Morris currently buying?

Explore City of Mount Morris's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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