City of Marshall Agenda June 16, 2026
Marshall Approves Lease-Purchase with First State Community Bank
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Description
The City of Marshall approved a lease-purchase financing arrangement with First State Community Bank to fund construction of a new administration building and shop. The financing includes principal components of Base Rentals up to $7,126,126 at 5.00% interest over a lease term not exceeding 10 years and one month, supported by a Base Lease of up to 20 years.
Contract Details
Contract Amount
Aggregate principal components of Base Rentals not to exceed $7,126,126 at 5.00% interest
Vendor
FIRST STATE COMMUNITY BANK
Agency
City of Marshall, MO
Contract Type
FINANCIAL_SERVICES
Document Date
June 16, 2026
Contract Term
Base Lease term not to exceed 20 years; Lease term not to exceed 10 years and one month
Renewal Info
Base Lease term not to exceed 20 years; Lease-Purchase Agreement term not to exceed 10 years and one month with option to purchase the project.
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