Union Bank Proposes $1.3 Million Note to School District
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Description
Union Bank has submitted a financing proposal to Mountain View Union Elementary School District for a $1,300,000 loan, offering either a Current Expense Note at 3.35% fixed interest with ICS reinvestment or a Non-Revolving Line of Credit at 4.99% fixed interest. The proposal is valid until July 1, 2026, with a loan term running July 1, 2026 through June 30, 2027.
Contract Details
Contract Amount
$1,300,000.00
Vendor
UNION BANK
Agency
Mountain View Union Elementary School District, VT
Contract Type
FINANCIAL_SERVICES
Document Date
June 8, 2026
Contract Term
July 1, 2026 – June 30, 2027 (12 Months)
Renewal Date
2027-06-30
Renewal Info
Proposal expires July 1, 2026; may be renewed or replaced by a new proposal at that time. Loan matures June 30, 2027. Early payoff permitted with no penalty; after payoff, ICS interest rate may revert to municipal checking rate.
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