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City seeks $21M low interest loan.

City of Morro Bay logoCity of Morro Bay
Disclosed value
$21,172,000
From agenda
Document date
Feb 18, 2025
Term
30 years

The 30-second brief

What it covers

City staff recommends the CFAC review the Water Reclamation Facility Program (WRF Program) funding and financing scenarios and concur with staff recommendation to draw down up to $21,172,000 of new low-interest financing. The loan is for a term of 30 years at 0.9% interest, and the project has a budget of $159,840,000.

Who holds it

Morro Bay holds this loan contract with City of Morro Bay. Its other public contracts on record include work for City of Guadalupe and Valley Life Charter District.

What happens next

Term as filed: 30 years.

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Contract details

Contract type
Loan
Amount
$21,172,000
Document date
February 18, 2025
Term
30 years
Vendor
Morro Bay
Agency
City of Morro Bay
Source document
citizens_oversight_committee_regular_meeting_agend.pdf (Agenda)

Morro Bay's other public contracts

City of Guadalupe, CaliforniaWastewater Plant Gets Pump From Morro Bay · Aug 11, 2026UndisclosedCity of Guadalupe, CaliforniaWastewater Plant Gets Pump from Morro Bay · Aug 11, 2026UndisclosedValley Life Charter District, CaliforniaSeventh Graders to Travel to Morro Bay · Aug 11, 2025UndisclosedSan Luis Coastal Unified, Californiasan-luis-coastal-unified-agenda-2024-12-10_58a.pdf · Dec 10, 2024$15.4KSan Luis Coastal Unified, Californiasan-luis-coastal-unified-agenda-2024-12-10_58a.pdf · Dec 10, 2024$16.4All Morro Bay contractsVendor profile

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Questions about this contract

Who was awarded the loan contract by City of Morro Bay?

Morro Bay was awarded this loan contract by City of Morro Bay, as recorded on February 18, 2025. The contract value is $21,172,000.

How much is the Morro Bay contract with City of Morro Bay worth?

The Morro Bay contract with City of Morro Bay is valued at $21,172,000, 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 citizens_oversight_committee_regular_meeting_agend.pdf (Agenda), dated February 18, 2025 from City of Morro Bay. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Morro Bay hold?

Morro Bay 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 City of Morro Bay currently buying?

Explore City of Morro Bay's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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