City of Palo Alto Awards Financial Services Contract to J.P. Morgan (October 2026)
City of Palo AltoCity · Palo Alto, CA- Disclosed value
- Electric Revenue Bonds principal amount not to exceed $100 million; underwriter discount may not exceed 0.35% of the par amount
- From staffreport
- Awarded
- Oct 20, 2026
- Renews
- Free account
The 30-second brief
Palo Alto selected J.P. Morgan as negotiated underwriter for up to $100 million in tax-exempt Electric Revenue Bonds financing the Grid Modernization for Electrification Project. The Bond Purchase Agreement is expected to be executed at pricing in January 2027, with the underwriter discount capped at 0.35% of par value.
J.P. Morgan holds this financial services contract with City of Palo Alto. Its other public contracts on record include work for New Mexico State Board of Finance | State of New Mexico and Hernando County School District.
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Contract details
- Contract type
- Financial Services
- Amount
- Electric Revenue Bonds principal amount not to exceed $100 million; underwriter discount may not exceed 0.35% of the par amount
- Document date
- October 20, 2026
- Term
- Negotiated underwriting through anticipated bond pricing in January 2027 and closing the week of January 25, 2027; bonds mature no later than June 1, 2058
- Renews
- On record
- Vendor
- J.P. Morgan
- Agency
- City of Palo Alto
- Source document
- City of Palo Alto StaffReport Grid Modernization for Electrification Project Financing 2026-10-20 (StaffReport)
J.P. Morgan's other public contracts
More City of Palo Alto contracts
Questions about this contract
Who was awarded the financial services contract by City of Palo Alto?
J.P. Morgan was awarded this financial services contract by City of Palo Alto, as recorded on October 20, 2026. The contract value is Electric Revenue Bonds principal amount not to exceed $100 million; underwriter discount may not exceed 0.35% of the par amount.
How much is the J.P. Morgan contract with City of Palo Alto worth?
The J.P. Morgan contract with City of Palo Alto is valued at Electric Revenue Bonds principal amount not to exceed $100 million; underwriter discount may not exceed 0.35% of the par amount, 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 Palo Alto StaffReport Grid Modernization for Electrification Project Financing 2026-10-20 (StaffReport), dated October 20, 2026 from City of Palo Alto. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does J.P. Morgan hold?
J.P. Morgan 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 Palo Alto currently buying?
Explore City of Palo Alto's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.