FINANCIAL_SERVICESAPPROVED

City of Poquoson Awards Financial Services Contract to TOWNEBANK (March 2026)

The City of Poquoson approved issuance of up to $5.8 million in General Obligation and Refunding Bonds with financing to be provided under TowneBank’s proposal at a 3.69% 10-year callable rate. The bonds will fund the Poquoson High School roof replacement and refund a portion of the 2025 GO bond, with closing expected by April 7, 2026.

Status
APPROVED
Document date
March 23, 2026
Contract type
FINANCIAL_SERVICES
Vendor
TOWNEBANK
Agency
City of Poquoson · VA

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WithersRavenel logo
Derivita logo
Comcate logo
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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
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Scope & details

The full contract record, as filed.

Contract amount
Up to $5,800,000 principal amount (3.69% interest rate on $3 million new GO bonds plus refunding up to $2.8 million 2025 GO bond)
Contract type
FINANCIAL_SERVICES
Contract term
10-year callable bond, closing by April 7, 2026
Renewal
Single bond issuance authorized; no renewal terms specified. Future refunding or refinancing would require separate Council action.
Document type
Minutes
Source document
City of Poquoson Minutes City Council Meeting 2026-03-23

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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 Poquoson?

TOWNEBANK was awarded this financial services contract by City of Poquoson, as recorded on March 23, 2026. The contract value is Up to $5,800,000 principal amount (3.69% interest rate on $3 million new GO bonds plus refunding up to $2.8 million 2025 GO bond).

How much is the TOWNEBANK contract with City of Poquoson worth?

The TOWNEBANK contract with City of Poquoson is valued at Up to $5,800,000 principal amount (3.69% interest rate on $3 million new GO bonds plus refunding up to $2.8 million 2025 GO bond), covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in City of Poquoson Minutes City Council Meeting 2026-03-23 (Minutes), dated March 23, 2026 from City of Poquoson. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does TOWNEBANK hold?

TOWNEBANK 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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What is City of Poquoson currently buying?

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

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