FINANCIAL_SERVICESAPPROVED

City of Morehead Awards $8,225,000 Financial Services Contract to Truist Bank (May 2026)

Morehead City Council approved a $8.225 million, 15-year financing agreement with Truist Bank at 3.895% interest to fund renovations and improvements at the W.S. King Recreation Center and associated outdoor facilities. The loan will close following Local Government Commission approval.

Status
APPROVED
Document date
May 12, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Truist Bank
Agency
City of Morehead · NC

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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
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
$8,225,000
Contract type
FINANCIAL_SERVICES
Contract term
15 years
Renewal date
2041-06-12
Renewal
This is a fixed-term 15-year loan; no renewal provisions are mentioned. Refinancing in the future would require separate Council action.
Document type
AgendaPacket
Source document
Morehead City Regular City Council Meeting Agenda May 2026

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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 Morehead?

Truist Bank was awarded this financial services contract by City of Morehead, as recorded on May 12, 2026. The contract value is $8,225,000.

How much is the Truist Bank contract with City of Morehead worth?

The Truist Bank contract with City of Morehead is valued at $8,225,000, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Morehead City Regular City Council Meeting Agenda May 2026 (AgendaPacket), dated May 12, 2026 from City of Morehead. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Truist Bank hold?

Truist Bank 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 Truist Bank's profile

What is City of Morehead currently buying?

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

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