City of Yuma Council Meeting Minutes April 2026
First Farm Bank Selected for $6M Pool Loan
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Description
The City of Yuma approved on first reading Ordinance #5, Series of 2026, authorizing a loan with First Farm Bank to finance the new city pool, with borrowing up to $6 million at 4.50% over 15 years. The draw-style loan is expected to close around June 9, 2026.
Contract Details
Contract Amount
Not to exceed $6,000,000 at 4.50% interest
Vendor
FIRST FARM BANK
Agency
City of Yuma, CO
Contract Type
FINANCIAL_SERVICES
Document Date
April 24, 2026
Contract Term
15 years
Renewal Date
2041-06-09
Renewal Info
Initial long-term loan for 15-year term; no renewal or extension options were discussed in the minutes.
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