FINANCIAL_SERVICESAPPROVED

Oak Lawn village Awards Financial Services Contract to Pnc Bank National Association (July 2026)

Oak Lawn will execute a three-year extension of its 2019 $6 million Waterworks and Sewerage Revenue Bond with PNC Bank National Association, covering about $4.3 million in remaining principal. The tax-exempt direct-purchase financing maintains the original 2039 maturity while adding a new mandatory tender date of August 31, 2029.

Status
APPROVED
Document date
July 28, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Pnc Bank National Association
Agency
Oak Lawn village · IL

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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
Approximately $4,300,000 outstanding principal; estimated 4.51% fixed tax-exempt rate; bank counsel fees estimated $5,000–$10,000; not to exceed $6,000,000 original principal
Contract type
FINANCIAL_SERVICES
Contract term
Three-year extension from closing date to Mandatory Tender Date August 31, 2029; original amortization to April 1, 2039 maintained
Renewal date
2029-08-31
Renewal
Extension of existing 2019 direct-purchase revenue bond; new three-year bank-rate period through August 31, 2029 with continued amortization to April 1, 2039. Village must refinance, repay, or remarket the remaining balance at the new mandatory tender.
Document type
Agenda
Source document
Village of Oak Lawn Board of Trustees Regular Meeting Agenda 2026-07-28

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Oak Lawn village?

Pnc Bank National Association was awarded this financial services contract by Oak Lawn village, as recorded on July 28, 2026. The contract value is Approximately $4,300,000 outstanding principal; estimated 4.51% fixed tax-exempt rate; bank counsel fees estimated $5,000–$10,000; not to exceed $6,000,000 original principal.

How much is the Pnc Bank National Association contract with Oak Lawn village worth?

The Pnc Bank National Association contract with Oak Lawn village is valued at Approximately $4,300,000 outstanding principal; estimated 4.51% fixed tax-exempt rate; bank counsel fees estimated $5,000–$10,000; not to exceed $6,000,000 original principal, covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in Village of Oak Lawn Board of Trustees Regular Meeting Agenda 2026-07-28 (Agenda), dated July 28, 2026 from Oak Lawn village. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Pnc Bank National Association hold?

Pnc Bank National Association 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 Pnc Bank National Association's profile

What is Oak Lawn village currently buying?

Explore Oak Lawn village's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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