FINANCIAL_SERVICESAPPROVED

Town of Stamford Awards Financial Services Contract to Beacon Bank (June 2026)

The Town of Stamford Selectboard approved proceeding with a 5-year $800,000 line of credit from Beacon Bank, covering both the tax anticipation and paving loan, contingent on an interest rate of no more than 5.5%. Board officers were authorized to accept and sign the note upon receipt of the final quote.

Status
APPROVED
Document date
June 18, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Beacon Bank
Agency
Town of Stamford · VT

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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
Line of credit for $800,000.00 (interest rate not to exceed 5.5%)
Contract type
FINANCIAL_SERVICES
Contract term
5 year line of credit
Renewal
Initial authorization is for a 5-year line of credit; any extensions or renewals beyond the 5-year term would require future board action.
Document type
Minutes
Source document
Town of Stamford Select Board Minutes 2026-06-18

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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 Stamford?

Beacon Bank was awarded this financial services contract by Town of Stamford, as recorded on June 18, 2026. The contract value is Line of credit for $800,000.00 (interest rate not to exceed 5.5%).

How much is the Beacon Bank contract with Town of Stamford worth?

The Beacon Bank contract with Town of Stamford is valued at Line of credit for $800,000.00 (interest rate not to exceed 5.5%), covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in Town of Stamford Select Board Minutes 2026-06-18 (Minutes), dated June 18, 2026 from Town of Stamford. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Beacon Bank hold?

Beacon Bank 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 Beacon Bank's profile

What is Town of Stamford currently buying?

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

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