City of Milan Awards $981,012 Financial Services Contract to First Horizon Bank (August 2026)

The City of Milan approved paying off its 2016 bond in full for $981,012.24. Staff said the payoff would save interest costs and eliminate future debt payments.

Document date · August 11, 2026

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Scope & details

The full contract record, as filed.

Contract amount

$981,012.24

Contract type

FINANCIAL_SERVICES

Contract term

2016 Bond; 20-year term; interest rate locked for five years, then adjustable

Renewal date

2036-08-11

Renewal

Original bond had a 20-year term with the interest rate locked for five years and adjustable thereafter. No renewal; the bond was paid off in full.

Document type

Minutes

Source document

City of Milan Minutes Regular Meeting August 11, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

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

First Horizon Bank was awarded this financial services contract by City of Milan, as recorded on August 11, 2026. The contract value is $981,012.24.

How much is the First Horizon Bank contract with City of Milan worth?

The First Horizon Bank contract with City of Milan is valued at $981,012.24, covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in City of Milan Minutes Regular Meeting August 11, 2026 (Minutes), dated August 11, 2026 from City of Milan. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does First Horizon Bank hold?

First Horizon Bank 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 First Horizon Bank's profile

What is City of Milan currently buying?

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

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