FINANCIAL_SERVICESAPPROVED

Town of Adrian Awards Financial Services Contract to Michigan Finance Authority (August 2026)

The City of Adrian approved issuance of up to $7.3 million in Wastewater System Junior Lien Revenue Bonds to the Michigan Finance Authority, with interest capped at 2%, to finance major sewer and pump station improvements. Debt service will run from 2029 through 2048, with first interest due in 2027.

Status
APPROVED
Document date
August 3, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Michigan Finance Authority
Agency
Town of Adrian · MI

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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
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
Not to exceed $7,300,000
Contract type
FINANCIAL_SERVICES
Contract term
Principal installments payable annually October 1, 2029–October 1, 2048; interest at up to 2.00% per annum with first interest payment April 1, 2027; useful life at least 30 years
Renewal date
2048-10-01
Renewal
New junior lien revenue bond financing under the State Revolving Fund program; no renewals, but up to 30 years of amortization with optional redemption subject to Authority approval.
Document type
AgendaPacket
Source document
City of Adrian AgendaPacket Commission Meeting 2026-08-03

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Town of Adrian?

Michigan Finance Authority was awarded this financial services contract by Town of Adrian, as recorded on August 3, 2026. The contract value is Not to exceed $7,300,000.

How much is the Michigan Finance Authority contract with Town of Adrian worth?

The Michigan Finance Authority contract with Town of Adrian is valued at Not to exceed $7,300,000, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in City of Adrian AgendaPacket Commission Meeting 2026-08-03 (AgendaPacket), dated August 3, 2026 from Town of Adrian. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Michigan Finance Authority hold?

Michigan Finance Authority 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 Michigan Finance Authority's profile

What is Town of Adrian currently buying?

Explore Town of Adrian's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View Town of Adrian's profile

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