FINANCIAL_SERVICESAPPROVED

Town of Adrian Awards Financial Services Contract to Michigan Finance Authority (August 2026)

The City of Adrian authorized issuing a Wastewater System Junior Lien Revenue Bond, Series 2026, in an amount not to exceed $7.3 million to the Michigan Finance Authority. The bond, carrying an interest rate capped at 2.00% and maturing over up to 30 years, will finance wastewater system improvements including force main replacement and pump upgrades.

Status
APPROVED
Document date
August 3, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Michigan Finance Authority
Agency
Town of Adrian · MI

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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
Not to exceed $7,300,000
Contract type
FINANCIAL_SERVICES
Contract term
Principal installments from October 1, 2029 through October 1, 2048; interest payments April 1, 2027 and semiannually thereafter, up to 30 years
Renewal date
2048-10-01
Renewal
Single bond issuance under the Clean Water State Revolving Fund program; up to 30 annual principal installments with semiannual interest, subject to optional redemption with Authority approval. No automatic renewal; obligations end upon full repayment or defeasance.
Document type
Minutes
Source document
Adrian City Commission Minutes 2026-08-03

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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 Adrian?

Michigan Finance Authority was awarded this financial services contract by Town of Adrian, as recorded on August 3, 2026. The contract value is Not to exceed $7,300,000.

How much is the Michigan Finance Authority contract with Town of Adrian worth?

The Michigan Finance Authority contract with Town of Adrian is valued at Not to exceed $7,300,000, 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 Adrian City Commission Minutes 2026-08-03 (Minutes), dated August 3, 2026 from Town of Adrian. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Michigan Finance Authority hold?

Michigan Finance Authority 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 Michigan Finance Authority's profile

What is Town of Adrian currently buying?

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

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