City of Coralville Agenda 2026-06-09
Coralville Sells $1.5M Urban Renewal Bond to Hills Bank
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Description
The City of Coralville awarded the purchase of its $1.5 million Taxable General Obligation Urban Renewal Bonds, Series 2026B, to Hills Bank and Trust Company at 4.20% interest to fund the new Recreation Center Project.
Contract Details
Contract Amount
$1,500,000 (principal), total payment $1,558,975 (principal + interest)
Vendor
HILLS BANK & TRUST COMPANY
Agency
City of Coralville, IA
Contract Type
FINANCIAL_SERVICES
Document Date
June 9, 2026
Contract Term
June 9, 2026 – June 1, 2027 (1 year)
Renewal Date
2027-06-01
Renewal Info
No automatic renewal; repaid in full at maturity. Future bond issues subject to Council approval.
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