FINANCIAL_SERVICESAPPROVED

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

The City of Adrian approved Ordinance 26-004 authorizing issuance of a Wastewater System Junior Lien Revenue Bond, Series 2026, in an amount not to exceed $7.3 million to be sold to the Michigan Finance Authority. The 30-year SRF financing will fund major wastewater system improvements at an interest rate up to 2 percent.

Status
APPROVED
Document date
August 17, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Michigan Finance Authority
Agency
City of Adrian · MI

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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
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 starting April 1, 2027
Renewal date
2048-10-01
Renewal
Bond matures over up to 30 annual installments ending October 1, 2048; no renewal, but optional redemption is allowed with Authority consent.
Document type
AgendaPacket
Source document
Adrian City Commission Agenda Packet 2026-08-17

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Adrian?

Michigan Finance Authority was awarded this financial services contract by City of Adrian, as recorded on August 17, 2026. The contract value is Not to exceed $7,300,000.

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

The Michigan Finance Authority contract with City 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 agendapacket record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in Adrian City Commission Agenda Packet 2026-08-17 (AgendaPacket), dated August 17, 2026 from City 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 City of Adrian currently buying?

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

View City of Adrian's profile

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