county of Merced Housing Authority Awards Financial Services Contract to Farmers & Merchants Bank of Central California (September 2021)

Scope & details

The full contract record, as filed.

Contract amount

Up to $3,500,000 principal; finance charges $178,610; net proceeds $2,957,390; total debt service $4,427,221

Contract type

FINANCIAL_SERVICES

Contract term

October 1, 2021 – October 1, 2046

Renewal date

2046-10-01

Renewal

Bond matures October 1, 2046 with level debt service; optional redemption allowed with declining prepayment premiums from 5% down to 0% after October 1, 2030. No automatic renewal; early redemption requires payment of principal, interest, and applicable premium.

Document type

Agenda

Source document

county-of-merced-housing-authority-agenda-2021-09-21_8a6.pdf

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by county of Merced Housing Authority?

Farmers & Merchants Bank of Central California was awarded this financial services contract by county of Merced Housing Authority, as recorded on September 21, 2021. The contract value is Up to $3,500,000 principal; finance charges $178,610; net proceeds $2,957,390; total debt service $4,427,221.

How much is the Farmers & Merchants Bank of Central California contract with county of Merced Housing Authority worth?

The Farmers & Merchants Bank of Central California contract with county of Merced Housing Authority is valued at Up to $3,500,000 principal; finance charges $178,610; net proceeds $2,957,390; total debt service $4,427,221, covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in county-of-merced-housing-authority-agenda-2021-09-21_8a6.pdf (Agenda), dated September 21, 2021 from county of Merced Housing Authority. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Farmers & Merchants Bank of Central California hold?

Farmers & Merchants Bank of Central California 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 Farmers & Merchants Bank of Central California's profile

What is county of Merced Housing Authority currently buying?

Explore county of Merced Housing Authority's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View county of Merced Housing Authority's profile