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Frazier School District Considers $2.5M Loan

Frazer Elementary School District
Disclosed value
$2,500,000.00
From agenda
Document date
Jun 20, 2024

The 30-second brief

What it covers

Approval sought for a $2.5 million Tax Anticipation Note (TAN) from Somerset Trust Company at a fixed interest rate of 5.975%. This loan will provide necessary funds for the district.

Who holds it

Somerset Trust holds this loan contract with Frazer Elementary School District. Its other public contracts on record include work for Conemaugh Township Municipal Authority and Borough of Berlin.

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Contract details

Contract type
Loan
Amount
$2,500,000.00
Document date
June 20, 2024
Term
NA
Vendor
Somerset Trust
Agency
Frazer Elementary School District
Source document
frazer-elementary-school-district-agenda-2024-06-20_de9.pdf (Agenda)

Somerset Trust's other public contracts

Conemaugh Township Municipal Authority, PennsylvaniaAuthority Approves Six-Month CD With Somerset Trust · Aug 17, 2026UndisclosedBorough of Berlin, PennsylvaniaBerlin invests $2.5M in Somerset Trust CD · Jul 9, 2026$2.5MIntermediate Unit 1, PennsylvaniaSomerset Trust Proposed as IU1 Depository Bank · Jun 24, 2026UndisclosedTussey Mountain SD, PennsylvaniaSomerset Trust Approved as District Depository · Jun 8, 2026UndisclosedTussey Mountain SD, PennsylvaniaSomerset Trust retained as district depository · Jun 8, 2026UndisclosedAll Somerset Trust contractsVendor profile

More Frazer Elementary School District contracts

Hp Integrated Financial ServicesHP Integrated Financial Services Approved for Chromebook Lease · Aug 11, 2025$76.2KWatson InstituteAgreement with Watson Institute approved · Aug 11, 2025Francis RyanAgreement with Francis Ryan approved · Aug 11, 2025UndisclosedKimberly DomonkosTransportation Contract Approval for Kimberly Domonkos · Aug 11, 2025$130/dayChildrens InstituteApproval for The Children's Institute service agreement · Aug 11, 2025VariesAll Frazer Elementary School District activityAgency profile

Questions about this contract

Who was awarded the loan contract by Frazer Elementary School District?

Somerset Trust was awarded this loan contract by Frazer Elementary School District, as recorded on June 20, 2024. The contract value is $2,500,000.00.

How much is the Somerset Trust contract with Frazer Elementary School District worth?

The Somerset Trust contract with Frazer Elementary School District is valued at $2,500,000.00, covering loan work.

What type of contract is this?

This is a Loan contract, documented as a agenda record.

Where was this contract approved?

This contract appears in frazer-elementary-school-district-agenda-2024-06-20_de9.pdf (Agenda), dated June 20, 2024 from Frazer Elementary School District. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Somerset Trust hold?

Somerset Trust 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 Frazer Elementary School District currently buying?

Explore Frazer Elementary School District's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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