Plan Outlined to Retire Montvale USDA-RD Debt

The Bedford Regional Water Authority discussed a plan for Montvale Water Incorporated to use the Authority’s purchase price to pay off its outstanding USDA-RD debt in a lump sum at closing. This approach will release the USDA-RD deed of trust tied to Montvale’s real property as part of the system transfer.

Scope & details

The full contract record, as filed.

Contract type

FINANCIAL_SERVICES

Renewal

Existing USDA-RD debt for Montvale Water Incorporated is planned to be fully paid off in a lump sum at the transfer closing, effectively terminating the loan rather than renewing it.

Document type

Minutes

Source document

Bedford Regional Water Authority Regular Board Meeting Minutes 2025-11-18

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Bedford Regional Water Authority?

United States Department of Agriculture – Rural Development was awarded this financial services contract by Bedford Regional Water Authority, as recorded on November 18, 2025.

What type of contract is this?

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

Where was this contract approved?

This contract appears in Bedford Regional Water Authority Regular Board Meeting Minutes 2025-11-18 (Minutes), dated November 18, 2025 from Bedford Regional Water Authority. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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