City of Parma Heights Council Meeting Agenda Packet May 2026
Parking lot improvement notes awarded to Stifel
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Description
Parma Heights Council approved issuing and selling up to $450,000 in Parking Lots Improvement Notes, Series 2026, to Stifel, Nicolaus & Company, Incorporated to fund parking lot upgrades at Greenbrier Commons Park and the service garage. The short-term notes will carry interest up to 6.50% and mature within one year in anticipation of future bonds.
Contract Details
Vendor
STIFEL, NICOLAUS & COMPANY INCORPORATED
Agency
City of Parma Heights, OH
Contract Type
FINANCIAL_SERVICES
Document Date
May 11, 2026
Contract Term
Single issuance of Series 2026 notes, maturing not later than one year from issuance
Renewal Info
Notes are bond anticipation securities to be refinanced or converted into long-term bonds within statutory maximum maturities; annual debt service levies pledged until repayment.
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