FINANCIAL_SERVICESAPPROVED

Nebraska Investment Finance Authority AgendaPacket Board of Directors Meeting 2026-05-08

First State Bank Nebraska Buys NIFA Ag Bond

$140,000Nebraska Investment Finance AuthorityFIRST STATE BANK NEBRASKA - BEATRICE, NEBRASKAMay 8, 2026

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Description

NIFA issued a $140,000 Agricultural Development Direct Loan Revenue Bond for the Rylee Zimmerman Project, purchased by First State Bank Nebraska in Beatrice. The bond finances 40 acres of farm real estate and carries a 30-year amortization with rate adjustments every five years.

Contract Details

Contract Amount

$140,000

Vendor

FIRST STATE BANK NEBRASKA - BEATRICE, NEBRASKA

Agency

Nebraska Investment Finance Authority, NE

Contract Type

FINANCIAL_SERVICES

Document Date

May 8, 2026

Contract Term

Bond dated April 30, 2026; amortized with 29 annual payments beginning April 1, 2027 and final maturity April 1, 2056

Renewal Date

2056-04-01

Renewal Info

Interest rate resets every five years based on Wall Street Journal U.S. Prime Rate minus 1.150%, with payments re-amortized over remaining term; bond matures April 1, 2056.

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