College Township Water Authority Regular Meeting Agenda March 2026
FCCB Bank Top Choice for CTWA Capital Loan
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Description
FCCB Bank's proposal was the top recommendation for $5,080,000 financing of CTWA water capital projects with a seven-year fixed rate note, shifting to a capped variable rate adjustment. Award scheduled for March 18, 2026 action.
Contract Details
Contract Amount
$5,080,000.00 (principal, Water Revenue Note, Series of 2026)
Vendor
FCCB BANK
Agency
College Township Water Authority, PA
Contract Type
FINANCIAL_SERVICES
Document Date
March 18, 2026
Contract Term
7 years fixed at 4.50% then variable capped at 5.35%; draw down loans over 3 years; final maturity estimated 2051
Renewal Date
2051-01-01
Renewal Info
Variable rate period after first 7 years capped at 5.35%; draw down structure for reduced early interest costs; potential additional proceeds if interest costs are lower than projections.
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