FINANCIAL_SERVICESAPPROVED

City of Bend Awards Financial Services Contract to State of Oregon Acting by & Through Its Department of Environmental Quality (December 2019)

The City of Bend entered into a Clean Water State Revolving Fund loan agreement with the State of Oregon Department of Environmental Quality for up to $4,000,000 to finance the Westview-Newberry-Parkwood Sewer Project. The 20-year revenue-secured loan carries a 2.23% interest rate, includes required reserve and annual fees, and provides significant loan forgiveness for qualifying emerging contaminants and overall project costs. The agreement sets conditions on disbursements, pledges Net Revenues for repayment, and incorporates extensive federal and state environmental, procurement, and construction requirements.

Document date · December 18, 2019

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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
$4,000,000 (with up to $1,076,000 emerging contaminants forgiveness and up to $1,462,000 general forgiveness)
Contract type
FINANCIAL_SERVICES
Contract term
Repayment period ending no later than 20 years after the Project Completion Date or May 31, 2026 estimated completion, whichever is earlier; semi-annual payments beginning after first interest-only payment within six months of estimated completion
Renewal date
2046-06-01
Renewal
The loan amortizes over a maximum 20-year repayment period from project completion with semi-annual payments and optional prepayment without penalty upon 30 days written notice. No automatic renewal; forgiveness portions are applied at first payment if conditions are met, and DEQ may reamortize after partial prepayments at its discretion.
Document type
Resolution
Source document
city-of-bend-resolution-2019-12-18_fc0.pdf

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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 Bend?

State of Oregon Acting by & Through Its Department of Environmental Quality was awarded this financial services contract by City of Bend, as recorded on December 18, 2019. The contract value is $4,000,000 (with up to $1,076,000 emerging contaminants forgiveness and up to $1,462,000 general forgiveness).

How much is the State of Oregon Acting by & Through Its Department of Environmental Quality contract with City of Bend worth?

The State of Oregon Acting by & Through Its Department of Environmental Quality contract with City of Bend is valued at $4,000,000 (with up to $1,076,000 emerging contaminants forgiveness and up to $1,462,000 general forgiveness), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a resolution record.

Where was this contract approved?

This contract appears in city-of-bend-resolution-2019-12-18_fc0.pdf (Resolution), dated December 18, 2019 from City of Bend. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does State of Oregon Acting by & Through Its Department of Environmental Quality hold?

State of Oregon Acting by & Through Its Department of Environmental Quality 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 State of Oregon Acting by & Through Its Department of Environmental Quality's profile

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