Village Plans Road Project Loan With Bank

The Village of Siren plans to secure a 20-year loan at 4.3% from Community Bank to finance its portion of the State Road 35/70 reconstruction project. The Board approved a structure with no principal payment in 2027 to keep the debt service levy constant, with final borrowing resolution and loan closing scheduled for August.

Document date · July 8, 2026

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Scope & details

The full contract record, as filed.

Contract type

FINANCIAL_SERVICES

Contract term

20-year loan with balloon payment in 10 years

Renewal

Balloon payment scheduled at year ten with anticipated refinancing; no principal payment in 2027 as part of approved structure.

Document type

Minutes

Source document

Village of Siren Minutes July 8, 2026

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Siren village?

Community Bank was awarded this financial services contract by Siren village, as recorded on July 8, 2026.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record.

Where was this contract approved?

This contract appears in Village of Siren Minutes July 8, 2026 (Minutes), dated July 8, 2026 from Siren village. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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