Salem State University Awards Financial Services Contract to Massachusetts State College Building Authority (mscba) (April 2026)

Scope & details

The full contract record, as filed.

Contract amount

Approximately $27.3 million in project costs funded by bond proceeds; true interest cost approximately 5%

Contract type

FINANCIAL_SERVICES

Contract term

30-year bonds; issuance anticipated March–April 2026

Renewal

30-year bond financing; no renewal provision stated. Debt service will be paid from general university revenues rather than segregated investments or reserves.

Document type

Minutes

Source document

Salem State University Minutes Board of Trustees Meeting 2026-04-08

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Massachusetts Maritime Academy Board of Trustees Meeting Minutes Dec 2021

APPROVED

Massachusetts Maritime Academy, Massachusettstotal project cost not to exceed Thirty Million Dollars; MSCBA central reserves not to exceed Nine Million Dollars; total debt service not to exceed Twenty-One Million Dollars; Academy Reserve Funds not to exceed Three Million DollarsDec 15, 2021

Massachusetts Maritime Academy Board of Trustees Meeting Minutes December 2021

APPROVED

Massachusetts Maritime Academy, Massachusettstotal project cost not to exceed Thirty Million Dollars; total contribution from MSCBA central reserves not to exceed Nine Million Dollars; total debt service not to exceed Twenty-One Million Dollars; Academy Reserve Funds not to exceed Three Million DollarsDec 15, 2021

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Salem State University?

Massachusetts State College Building Authority (mscba) was awarded this financial services contract by Salem State University, as recorded on April 8, 2026. The contract value is Approximately $27.3 million in project costs funded by bond proceeds; true interest cost approximately 5%.

How much is the Massachusetts State College Building Authority (mscba) contract with Salem State University worth?

The Massachusetts State College Building Authority (mscba) contract with Salem State University is valued at Approximately $27.3 million in project costs funded by bond proceeds; true interest cost approximately 5%, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in Salem State University Minutes Board of Trustees Meeting 2026-04-08 (Minutes), dated April 8, 2026 from Salem State University. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Massachusetts State College Building Authority (mscba) hold?

Massachusetts State College Building Authority (mscba) may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Massachusetts State College Building Authority (mscba)'s profile

What is Salem State University currently buying?

Explore Salem State University's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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