City of Charleston Awards Insurance Contract to Build America Mutual Assurance Company (July 2026)
City of CharlestonCity · Charleston, WV- Disclosed value
- $50,650.00 initial draw for reserve funding and costs; ongoing policy costs and premiums not to exceed amounts set by Series 2026 A Bonds Debt Service Reserve Insurance Commitment
- From agenda
- Approved
- Jul 6, 2026
- Renews
- Free account
The 30-second brief
Charleston City Council approved purchasing a Municipal Bond Debt Service Reserve Insurance Policy from Build America Mutual for its $18.4 million Series 2026 A sewer revenue bonds, including an initial $50,650 reserve draw. The policy will backstop the bonds’ debt service reserve and is governed by a Debt Service Reserve Agreement specifying repayment and fee obligations.
Build America Mutual Assurance Company holds this insurance contract with City of Charleston. Its other public contracts on record include work for Eatonton-Putnam Water And Sewer Authority and City of Byram.
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Contract details
- Contract type
- Insurance
- Amount
- $50,650.00 initial draw for reserve funding and costs; ongoing policy costs and premiums not to exceed amounts set by Series 2026 A Bonds Debt Service Reserve Insurance Commitment
- Document date
- July 6, 2026
- Term
- Debt service reserve insurance effective for the life of the Series 2026 A Bonds, through June 1, 2046, subject to terms of the policy
- Renews
- On record
- Agency
- City of Charleston
- Source document
- Charleston City Council Agenda 2026-07-06 (Agenda)
Build America Mutual Assurance Company's other public contracts
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Questions about this contract
Who was awarded the insurance contract by City of Charleston?
Build America Mutual Assurance Company was awarded this insurance contract by City of Charleston, as recorded on July 6, 2026. The contract value is $50,650.00 initial draw for reserve funding and costs; ongoing policy costs and premiums not to exceed amounts set by Series 2026 A Bonds Debt Service Reserve Insurance Commitment.
How much is the Build America Mutual Assurance Company contract with City of Charleston worth?
The Build America Mutual Assurance Company contract with City of Charleston is valued at $50,650.00 initial draw for reserve funding and costs; ongoing policy costs and premiums not to exceed amounts set by Series 2026 A Bonds Debt Service Reserve Insurance Commitment, covering insurance work.
What type of contract is this?
This is a Insurance contract, documented as a agenda record, structured as a not-to-exceed (ceiling) agreement.
Where was this contract approved?
This contract appears in Charleston City Council Agenda 2026-07-06 (Agenda), dated July 6, 2026 from City of Charleston. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Build America Mutual Assurance Company hold?
Build America Mutual Assurance Company may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Charleston currently buying?
Explore City of Charleston's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.