City of Durand Regular Council Meeting Agenda Packet May 2026
Waumandee State Bank Low Bid on 2026B Note
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Description
The City of Durand received a low bid from Waumandee State Bank at 3.85% interest for a $2,601,000 General Obligation Promissory Note, Series 2026B. Council is asked to adopt a resolution awarding the sale to finance interim costs of the Madison Street project.
Contract Details
Contract Amount
$2,601,000 (principal) at 3.85% interest; Total Net P&I $2,702,251
Vendor
WAUMANDEE STATE BANK
Agency
City of Durand, WI
Contract Type
FINANCIAL_SERVICES
Document Date
May 13, 2026
Contract Term
Dated May 27, 2026; first interest and principal payment June 1, 2027; callable any date after settlement
Renewal Date
2027-06-01
Renewal Info
Single-maturity 2027 note, callable at face value any date after settlement; no renewal terms specified.
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