Town of Marshville AgendaPacket Regular Meeting 2026-04-06
Marshville OKs $8.3M Wastewater Financing With Truist
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Description
The Town of Marshville Town Council approved an $8.3 million installment financing contract with Truist Bank to fund major wastewater system improvements, including new pump stations, upgrades, and dredging. The financing, backed by a deed of trust on project property and approved by the Local Government Commission, combines short-term and long-term components expected to be repaid in part with grant funds.
Contract Details
Contract Amount
$8,300,000 (aggregate principal amount)
Vendor
TRUIST BANK
Agency
Town of Marshville, NC
Contract Type
FINANCIAL_SERVICES
Document Date
April 6, 2026
Contract Term
Short-term financing of $5,000,000 and long-term financing of $3,300,000; specific amortization not stated
Renewal Info
Installment financing contract in the principal amount of $8,300,000; structured as $5,000,000 short-term and $3,300,000 long-term financing for wastewater projects. No renewal or extension options are described in the resolution text.
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