Town of Edenton Awards $6,000,000 Financing Agreement Contract to Southern Bank (October 2025)
Town of EdentonCity · Edenton, NC- Disclosed value
- $6,000,000.00
- From agenda
- Approved
- Oct 14, 2025
- Term
- 20 years
The 30-second brief
Financing agreement with Southern Bank for Project Teapot for an amount not to exceed $6,000,000, and is comprised of a tax-exempt loan up-to $600,000, at an interest rate of 5.62% per annum and with a final maturity date not later than 2046; and a taxable loan up-to $5,400,000, at an interest rate of 5.95% per annum and with a final maturity date not later than 2046.
Southern Bank holds this financing agreement contract with Town of Edenton. Its other public contracts on record include work for Three Rivers College and City of Atascadero.
Term as filed: 20 years.
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Contract details
- Contract type
- Financing Agreement
- Amount
- $6,000,000.00
- Document date
- October 14, 2025
- Term
- 20 years
- Vendor
- Southern Bank
- Agency
- Town of Edenton
- Source document
- edenton-town-council-regular-meeting-agenda-october-14-2025_6ba.pdf (Agenda)
Southern Bank's other public contracts
More Town of Edenton contracts
Questions about this contract
Who was awarded the financing agreement contract by Town of Edenton?
Southern Bank was awarded this financing agreement contract by Town of Edenton, as recorded on October 14, 2025. The contract value is $6,000,000.00.
How much is the Southern Bank contract with Town of Edenton worth?
The Southern Bank contract with Town of Edenton is valued at $6,000,000.00, covering financing agreement work.
What type of contract is this?
This is a Financing Agreement contract, documented as a agenda record.
Where was this contract approved?
This contract appears in edenton-town-council-regular-meeting-agenda-october-14-2025_6ba.pdf (Agenda), dated October 14, 2025 from Town of Edenton. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Southern Bank hold?
Southern 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.
What is Town of Edenton currently buying?
Explore Town of Edenton's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.