Iowa Finance Authority Board Meeting Agenda March 2026
Interest Rate Reduced on Hills Bank & Trust Beginning Farmer Loan
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Description
Iowa Finance Authority approved an amendment to the 2019 beginning farmer loan agreement with Hills Bank & Trust Company, lowering the interest rate until July 2031 for Daniel Lee Miller.
Contract Details
Contract Amount
$203,000 (original), rate lowered to 5.08% until 7/15/2031
Vendor
HILLS BANK & TRUST COMPANY
Agency
Iowa Arts Council, IA
Contract Type
FINANCIAL_SERVICES
Document Date
March 4, 2026
Contract Term
Until July 15, 2031 (rate resets), then 5-year adjustable
Renewal Date
2031-07-15
Renewal Info
Interest rate reduced for fixed period; loan otherwise unchanged; adjustable after July 15, 2031 (every 5 yrs).
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