FINANCIAL_SERVICESAPPROVED

Colorado Agricultural Development Authority | State of Colorado Awards Financial Services Contract to First Pioneer National Bank (July 2026)

The Colorado Agricultural Development Authority approved a $225,000 bond to finance Pat & Mallory Garrett’s $450,000 purchase of 327 acres of rangeland in Phillips County, with First Pioneer National Bank as lender. The loan features a 5.60% rate fixed for five years, then adjusting every five years to tier 1 minus 0.75% over a 30-year amortization.

Document date · July 23, 2026

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TerraCycle logo
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WithersRavenel logo
Derivita logo
Comcate logo
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TerraCycle logo
Cyvl logo
WithersRavenel logo
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Scope & details

The full contract record, as filed.

Contract amount
Bond amount $225,000; purchase price $450,000
Contract type
FINANCIAL_SERVICES
Contract term
Interest rate 5.60%; fixed for 5 years then adjusts to tier 1 rate -0.75% every 5 years based on a 30-year amortization
Renewal
Loan terms include a 5-year fixed-rate period followed by interest rate adjustments every five years based on the tier 1 rate minus 0.75% over a 30-year amortization. No explicit renewal or extension options beyond the amortization schedule are stated.
Document type
Minutes
Source document
Colorado Agricultural Development Authority Board Conference Call Meeting Minutes 2026-07-23

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Colorado Agricultural Development Authority | State of Colorado?

First Pioneer National Bank was awarded this financial services contract by Colorado Agricultural Development Authority | State of Colorado, as recorded on July 23, 2026. The contract value is Bond amount $225,000; purchase price $450,000.

How much is the First Pioneer National Bank contract with Colorado Agricultural Development Authority | State of Colorado worth?

The First Pioneer National Bank contract with Colorado Agricultural Development Authority | State of Colorado is valued at Bond amount $225,000; purchase price $450,000, 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 Colorado Agricultural Development Authority Board Conference Call Meeting Minutes 2026-07-23 (Minutes), dated July 23, 2026 from Colorado Agricultural Development Authority | State of Colorado. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does First Pioneer National Bank hold?

First Pioneer National 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 Pioneer National Bank's profile

What is Colorado Agricultural Development Authority | State of Colorado currently buying?

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