FINANCIAL_SERVICESAMENDED

IFA Lowers Rate on $340K Hills Bank Farm Loan

The Iowa Finance Authority approved Resolution AG 19-047M amending a $340,000 Beginning Farmer Loan held by Hills Bank & Trust Company by reducing the interest rate to 4.81% through 2035 and lowering annual payments. All other loan terms remain unchanged.

Status
AMENDED
Document date
October 1, 2025
Contract type
FINANCIAL_SERVICES
Vendor
Hills Bank & Trust Company
Agency
Iowa Finance Authority · IA

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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
$340,000 (original bond principal)
Contract type
FINANCIAL_SERVICES
Contract term
Interest rate 4.81% until August 15, 2035; then adjusts every 5 years
Renewal date
2035-08-15
Renewal
Loan interest reduced to 4.81% until 2035-08-15, then reverts to an adjustable rate of 80% of 5-year Treasury plus 3.00% with adjustments every five years; no change to maturity stated.
Document type
Agenda
Source document
iowa-finance-authority-board-of-directors-meeting-agenda-october-1-2025_1f0.pdf

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Iowa Finance Authority?

Hills Bank & Trust Company was awarded this financial services contract by Iowa Finance Authority, as recorded on October 1, 2025. The contract value is $340,000 (original bond principal).

How much is the Hills Bank & Trust Company contract with Iowa Finance Authority worth?

The Hills Bank & Trust Company contract with Iowa Finance Authority is valued at $340,000 (original bond principal), covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in iowa-finance-authority-board-of-directors-meeting-agenda-october-1-2025_1f0.pdf (Agenda), dated October 1, 2025 from Iowa Finance Authority. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Hills Bank & Trust Company hold?

Hills Bank & Trust Company may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Hills Bank & Trust Company's profile

What is Iowa Finance Authority currently buying?

Explore Iowa Finance Authority's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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