City of Lowell Budget Committee Agenda and Proposed Budget FY 2026-27 2026-05-20
City Hall and Parks Property Loan Remains in Repayment
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Description
The City of Lowell continues repaying its Government Capital loan used to purchase the City Hall and parks properties, with an estimated $393,380 in principal outstanding at 4.387%. The 20-year loan maturing in 2039 is fully supported by FY 2026-27 debt service appropriations.
Contract Details
Contract Amount
$530,000 (original principal); outstanding principal $393,380 as of June 30, 2026
Vendor
GOVERNMENT CAPITAL
Agency
City of Lowell, OR
Contract Type
FINANCIAL_SERVICES
Document Date
May 20, 2026
Contract Term
Issue date 04/25/2019 (inferred from 04/25/39 format); matures 04/25/2039
Renewal Date
2039-04-25
Renewal Info
Long-term financing agreement with fixed maturity of April 25, 2039; no renewal provisions mentioned.
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