City of Bullhead City Council Meeting Minutes October 2024
Council Approves $6 Million Capital Loan with Foothills Bank
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Description
Bullhead City Council approved a Capital Loan Agreement with Foothills Bank for up to $6 million, enabling necessary city projects and equipment purchases pending implementation of Proposition 416. The loan can be paid off early without penalty and is targeted for payoff in July 2025.
Contract Details
Contract Amount
Not to exceed $6,000,000.00
Vendor
FOOTHILLS BANK
Agency
City of Bullhead, AZ
Contract Type
FINANCIAL_SERVICES
Document Date
October 15, 2024
Contract Term
Until July 2025 (targeted payoff date)
Renewal Date
2025-07-01
Renewal Info
Loan is expected to be repaid by July 2025; early payoff allowed without penalty; no recurring renewal.
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