Wayne County Board of Commissioners Agenda March 2026
Wayne County Approves $9 Million School Financing Deal
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Description
Wayne County Board of Commissioners approved a $9 million installment financing agreement with Truist Commercial Equity, Inc. to fund construction and equipment for new public schools. The agreement runs through April 2046 at a fixed 4.3% interest rate with project funds controlled by the lender.
Contract Details
Contract Amount
$9,000,000
Vendor
TRUIST COMMERCIAL EQUITY INC
Agency
Wayne County, NC
Contract Type
FINANCIAL_SERVICES
Document Date
March 3, 2026
Contract Term
March 18, 2026 – April 1, 2046
Renewal Date
2046-04-01
Renewal Info
Prepayment allowed with premiums scaling down to par in 2031 and after. No deficiency judgment; non-recourse to taxing power. Term concludes April 1, 2046 unless prepaid.
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