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District Considers $2.5M Loan from Somerset Trust

Frazer High School District
Disclosed value
$2,500,000
From agenda
Document date
Jun 23, 2025

The 30-second brief

What it covers

Frazier School District considers a $2.5 million Tax Anticipation Note (TAN) from Somerset Trust Company with a 5.275% interest rate. The TAN will help manage cash flow during the fiscal year.

Who holds it

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

See who signed off on this $2.5M contract.

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Contract details

Contract type
Loan
Amount
$2,500,000
Document date
June 23, 2025
Term
NA
Vendor
Somerset Trust
Agency
Frazer High School District
Source document
frazer-high-school-district-agenda-2025-06-23_ee6.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 High School District contracts

Fuller SynthesisFuller Synthesis Proposal for District Needs Analysis · Jun 23, 2025$3KChildrens Institute Day SchoolAgreement with The Children's Institute Pending · Jun 23, 2025$73.1KClelian HeightsEducational Services Agreement with Clelian Heights · Jun 23, 2025$34.2KRebecca RodriguezFrazier School District Approves Business Manager Agreement · Jun 23, 2025UndisclosedCypher & CypherCypher & Cypher Proposed for Auditing Services · Jun 23, 2025All Frazer High School District activityAgency profile

Questions about this contract

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

Somerset Trust was awarded this loan contract by Frazer High School District, as recorded on June 23, 2025. The contract value is $2,500,000.

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

The Somerset Trust contract with Frazer High School District is valued at $2,500,000, 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-high-school-district-agenda-2025-06-23_ee6.pdf (Agenda), dated June 23, 2025 from Frazer High 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 High School District currently buying?

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

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