City of Justin City Council Agenda Packet 2026-05-28
City Authorizes EDC/CDC Loan via Government Capital
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Description
The Justin City Council authorized action to enter into a reimbursement resolution and loan agreement with Government Capital Corporation to finance economic development land acquisition and infrastructure, up to approximately $530,000 with repayments over 10 years. The loan is backed by future sales tax receipts from the EDC/CDC.
Contract Details
Contract Amount
Approximately $529,100 principal (plus $8,750 issuance cost included in payment), estimated annual debt service $66,152 for 10-year term
Vendor
GOVERNMENT CAPITAL CORPORATION
Agency
City of Justin, TX
Contract Type
FINANCIAL_SERVICES
Document Date
May 28, 2026
Contract Term
10 years (estimated), funding to close June 2026, repayments begin September 2026
Renewal Date
2036-06-30
Renewal Info
Loan structure reviewed by GovCap; terms to be finalized in June 2026. Options include 7, 10, or 15-year amortization. No automatic renewal, term ends at loan maturity.
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