City of Lanark Minutes Regular Session 2026-05-19
Lanark Renews $2 Million Credit Line with Bank
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Description
The City of Lanark renewed its $2,000,000 line of credit with Exchange State Bank for another 12 months under existing terms. The agreement features a variable interest rate and maintains current signatories.
Contract Details
Contract Amount
$2,000,000
Vendor
EXCHANGE STATE BANK
Agency
City of Lanark, IL
Contract Type
FINANCIAL_SERVICES
Document Date
May 19, 2026
Contract Term
12 months
Renewal Date
2027-05-19
Renewal Info
Line of credit renewed for 12-month term under previous terms and conditions; variable rate tied to Illinois I-Fund plus 0.25%.
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City of Lanark Minutes Regular Session 2026-05-19
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City of Lanark Minutes Regular Session 2026-05-19
City of Lanark Minutes Regular Session 2026-05-19
City of Lanark Minutes Regular Session 2026-05-19
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