FINANCIAL_SERVICESREJECTED

Machias Savings Bank TAN Bid Not Selected

Machias Savings Bank proposed to fund Bucksport’s $3,000,000 tax anticipation borrowing at a 5.36% fixed rate calculated on a 360‑day year, with projected interest of roughly $160,600 through June 30, 2027. The Town reviewed the offer but chose Bangor Savings Bank for the TAN award.

Document date · July 16, 2026

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WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
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Scope & details

The full contract record, as filed.

Contract amount
$3,000,000; total interest approximately $160,600.00 at 5.36% for one year (360-day year)
Contract type
FINANCIAL_SERVICES
Contract term
One year from July 17, 2026 to June 30, 2027 (proposed TAN)
Renewal date
2027-06-30
Renewal
Single-year TAN bid; no renewal terms and not awarded by the council.
Document type
AgendaPacket
Source document
Bucksport Town Council Agenda Packet 2026-07-16

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Town of Bucksport?

Machias Savings Bank was awarded this financial services contract by Town of Bucksport, as recorded on July 16, 2026. The contract value is $3,000,000; total interest approximately $160,600.00 at 5.36% for one year (360-day year).

How much is the Machias Savings Bank contract with Town of Bucksport worth?

The Machias Savings Bank contract with Town of Bucksport is valued at $3,000,000; total interest approximately $160,600.00 at 5.36% for one year (360-day year), covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in Bucksport Town Council Agenda Packet 2026-07-16 (AgendaPacket), dated July 16, 2026 from Town of Bucksport. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Machias Savings Bank hold?

Machias Savings Bank 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 Machias Savings Bank's profile

What is Town of Bucksport currently buying?

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