FINANCIAL_SERVICESAPPROVED

City of Mercer Island Awards Financial Services Contract to Municipal Asset Management Inc (September 2026)

Mercer Island approved a nine-year lease-purchase financing arrangement with Municipal Asset Management, Inc. for the new fire apparatus. The financing carries a 4.97% interest rate and totals $979,075 in payments through September 2035.

Document date · September 15, 2026

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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
4.97% interest rate; annual installment payments of $108,786 through September 2035; total payments of $979,075
Contract type
FINANCIAL_SERVICES
Contract term
9 years; beginning September 29, 2026, through September 2035
Renewal date
2035-09-30
Renewal
No renewal option stated. The City may reevaluate refinancing through the Washington State Treasurer’s Office LOCAL Program after apparatus delivery.
Document type
AgendaPacket
Source document
City of Mercer Island AgendaPacket City Council Regular Hybrid Meeting 2026-09-15

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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 Mercer Island?

Municipal Asset Management Inc was awarded this financial services contract by City of Mercer Island, as recorded on September 15, 2026. The contract value is 4.97% interest rate; annual installment payments of $108,786 through September 2035; total payments of $979,075.

How much is the Municipal Asset Management Inc contract with City of Mercer Island worth?

The Municipal Asset Management Inc contract with City of Mercer Island is valued at 4.97% interest rate; annual installment payments of $108,786 through September 2035; total payments of $979,075, 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 City of Mercer Island AgendaPacket City Council Regular Hybrid Meeting 2026-09-15 (AgendaPacket), dated September 15, 2026 from City of Mercer Island. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Municipal Asset Management Inc hold?

Municipal Asset Management Inc 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 Municipal Asset Management Inc's profile

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