Utilities Secures $60 Million Line Of Credit | City of New Smyrna Beach | BANK OF AMERICA, N.A.

Scope & details

The full contract record, as filed.

Contract amount

Aggregate principal amount not to exceed $60,000,000; $45,000,000 drawn down

Contract type

FINANCIAL_SERVICES

Contract term

1-2 years, until the planned bond issuance is executed

Renewal

Short-term financing arrangement intended to remain in place until a planned bond issuance refinances and repays the outstanding balance; no specific renewal option stated.

Document type

AgendaPacket

Source document

City of New Smyrna Beach AgendaPacket Special Meeting 2026-09-23

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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 New Smyrna Beach?

Bank of America, N.a. was awarded this financial services contract by City of New Smyrna Beach, as recorded on September 22, 2026. The contract value is Aggregate principal amount not to exceed $60,000,000; $45,000,000 drawn down.

How much is the Bank of America, N.a. contract with City of New Smyrna Beach worth?

The Bank of America, N.a. contract with City of New Smyrna Beach is valued at Aggregate principal amount not to exceed $60,000,000; $45,000,000 drawn down, 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 New Smyrna Beach AgendaPacket Special Meeting 2026-09-23 (AgendaPacket), dated September 22, 2026 from City of New Smyrna Beach. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Bank of America, N.a. hold?

Bank of America, N.a. 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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