FINANCIAL_SERVICESONGOING

MBA Fire Station Bonds Financed Through Webster Bank

The Syracuse City Municipal Building Authority is currently financed through lease revenue bonds directly placed with Webster Bank to fund Fire Station No. 32, with a 20-year, 4.95% interest term maturing in November 2043. The bonds become callable in November 2026, enabling the City to consider a $10,040,000 refunding to capture savings.

Status
ONGOING
Document date
August 8, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Webster Bank
Agency
City of Syracuse · UT

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Veritone logo
TerraCycle logo
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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
$10,040,000 (original 2023 lease revenue bonds; potential refunding amount noted as $10,040,000 Series 2026)
Contract type
FINANCIAL_SERVICES
Contract term
20-year term, fixed 4.95% interest, maturing November 2043; non-callable first three years, callable at par beginning November 2026
Renewal date
2043-11-01
Renewal
Bonds are non-callable for the first three years and are callable at par without penalty beginning November 2026, allowing potential refunding or restructuring but not an automatic renewal.
Document type
AgendaPacket
Source document
Syracuse City Council Agenda Packet 2026-08-11

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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 Syracuse?

Webster Bank was awarded this financial services contract by City of Syracuse, as recorded on August 8, 2026. The contract value is $10,040,000 (original 2023 lease revenue bonds; potential refunding amount noted as $10,040,000 Series 2026).

How much is the Webster Bank contract with City of Syracuse worth?

The Webster Bank contract with City of Syracuse is valued at $10,040,000 (original 2023 lease revenue bonds; potential refunding amount noted as $10,040,000 Series 2026), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Syracuse City Council Agenda Packet 2026-08-11 (AgendaPacket), dated August 8, 2026 from City of Syracuse. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Webster Bank hold?

Webster 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.

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What is City of Syracuse currently buying?

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

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