City Plans $5M Note with Regions for Fire Gear

The City of Little Rock Finance Department recommends approval of an ordinance authorizing a $5,000,000 Promissory Note to be purchased by Regions Equipment Finance Corporation at a fixed interest rate of 3.95% for five years. Proceeds will provide short-term financing for self-contained breathing apparatus for the Little Rock Fire Department, with annual debt service paid from the City’s General Fund. The financing complies with Arkansas Constitutional Amendment 78 debt limitations and includes covenants to maintain favorable federal tax treatment.

Scope & details

The full contract record, as filed.

Contract amount

$5,000,000 Note at 3.95% interest per annum

Contract type

FINANCIAL_SERVICES

Contract term

Five substantially equal annual amortized installments over a five-year period

Renewal

The Promissory Note is structured as a five-year obligation with five substantially equal annual amortized installments of principal and interest; no renewals or extensions are described, and the debt is expected to be fully repaid at the end of the five-year term.

Document type

StaffReport

Source document

City of Little Rock StaffReport Promissory Note Issuance for LRFD Fire Apparatus Purchase 2026-08-18

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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 Little Rock?

Regions Equipment Finance Corporation was awarded this financial services contract by City of Little Rock, as recorded on August 18, 2026. The contract value is $5,000,000 Note at 3.95% interest per annum.

How much is the Regions Equipment Finance Corporation contract with City of Little Rock worth?

The Regions Equipment Finance Corporation contract with City of Little Rock is valued at $5,000,000 Note at 3.95% interest per annum, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a staffreport record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in City of Little Rock StaffReport Promissory Note Issuance for LRFD Fire Apparatus Purchase 2026-08-18 (StaffReport), dated August 18, 2026 from City of Little Rock. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Regions Equipment Finance Corporation hold?

Regions Equipment Finance Corporation may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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