FINANCIAL_SERVICESDISCUSSSED

Spring City considers bond fund financing for tank costs

Spring City is considering financing approximately $1.47 million in water tank contract and roof repair costs through the Tennessee Municipal Bond Fund over a 10-year term at an assumed 3.97% interest rate. The proposed structure would result in total payments of about $1.81 million and customer tank fees between $14.27 and $14.41 per month in full payment years.

Status
DISCUSSSED
Document date
May 28, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Tennessee Municipal Bond Fund
Agency
City of Spring · TN

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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
$1,470,000.00 amount financed; $1,812,147.83 total paid including $342,147.83 total interest at 3.97% fixed
Contract type
FINANCIAL_SERVICES
Contract term
10-year loan term with one initial partial-year payment in FY2026-2027 followed by ten full annual payments through FY2036-2037
Renewal date
2036-06-30
Renewal
Proposed financing would run for a fixed 10-year term; no renewal or extension provisions are described.
Document type
Agenda
Source document
Town of Spring City Monthly Workshop Agenda 2026-05-28

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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 Spring?

Tennessee Municipal Bond Fund was awarded this financial services contract by City of Spring, as recorded on May 28, 2026. The contract value is $1,470,000.00 amount financed; $1,812,147.83 total paid including $342,147.83 total interest at 3.97% fixed.

How much is the Tennessee Municipal Bond Fund contract with City of Spring worth?

The Tennessee Municipal Bond Fund contract with City of Spring is valued at $1,470,000.00 amount financed; $1,812,147.83 total paid including $342,147.83 total interest at 3.97% fixed, covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in Town of Spring City Monthly Workshop Agenda 2026-05-28 (Agenda), dated May 28, 2026 from City of Spring. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Tennessee Municipal Bond Fund hold?

Tennessee Municipal Bond Fund may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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What is City of Spring currently buying?

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

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