Pixley Irrigation District Board Meeting Agenda Packet October 2025
Pixley Approves $14M Water Transfer Financing with EverBank
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Description
Pixley Irrigation District approved a $14 million installment purchase agreement with EverBank, N.A., financing a water transfer through 2040. The deal supports acquisition of key water assets with payments funded from water enterprise revenues.
Contract Details
Contract Amount
$14,070,000 (principal, interest to maturity $20,118,490)
Vendor
EVERBANK N.A.
Agency
Tea Pot Dome Water District, CA
Contract Type
FINANCIAL_SERVICES
Document Date
October 3, 2025
Contract Term
October 2025 – December 30, 2040
Renewal Date
2040-12-30
Renewal Info
Term ends December 30, 2040. Prepayment provisions included; no auto-renewal. Standard closing/settlement process.
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