FINANCIAL_SERVICESPENDING

Board Considers $5 Million State Aid Note Borrowing

The Redford Union Schools Board of Education will consider a resolution to borrow up to $5 million in August 2026 through the Michigan Finance Authority under a State Aid Note (SAN) program. The resolution authorizes interim financing for district cash flow needs for the upcoming fiscal year.

Status
PENDING
Document date
June 15, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Michigan Finance Authority
Agency
Redford Union Schools District No. 1 · MI

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WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch 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
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
Not to exceed $5.0 million
Contract type
FINANCIAL_SERVICES
Contract term
August 2026 borrowing
Renewal date
2026-08-31
Renewal
Single borrowing event for August 2026; no renewal indicated.
Document type
Agenda
Source document
Redford Union Schools Board of Education Regular Board Meeting Agenda 2026-06-15

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Redford Union Schools District No. 1?

Michigan Finance Authority was awarded this financial services contract by Redford Union Schools District No. 1, as recorded on June 15, 2026. The contract value is Not to exceed $5.0 million.

How much is the Michigan Finance Authority contract with Redford Union Schools District No. 1 worth?

The Michigan Finance Authority contract with Redford Union Schools District No. 1 is valued at Not to exceed $5.0 million, covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in Redford Union Schools Board of Education Regular Board Meeting Agenda 2026-06-15 (Agenda), dated June 15, 2026 from Redford Union Schools District No. 1. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Michigan Finance Authority hold?

Michigan Finance Authority 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 Michigan Finance Authority's profile

What is Redford Union Schools District No. 1 currently buying?

Explore Redford Union Schools District No. 1's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View Redford Union Schools District No. 1's profile

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