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FINANCIAL_SERVICESRECOMMENDED

Towne Bank Recommended for Vehicle Financing Agreement

The Town of Duck solicited financing proposals for four police patrol vehicles and two fire command vehicles totaling $426,209 and received responses from multiple lenders. Staff report identifies Towne Bank’s 4.38% interest proposal as the lowest-cost bank option for a three-year installment purchase agreement.

Document date · August 5, 2026

Issuing agencyTown of DuckVendorTowne Bank

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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
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
$426,209 (principal) at 4.38% interest
Contract type
FINANCIAL_SERVICES
Contract term
3 years, level annual payments, first payment due one year from closing
Renewal
Three-year installment purchase financing with no pre-payment penalty requested; standard amortization with annual level payments.
Document type
AgendaPacket
Source document
Town of Duck AgendaPacket Regular Meeting 2026-08-05

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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 Duck?

Towne Bank was awarded this financial services contract by Town of Duck, as recorded on August 5, 2026. The contract value is $426,209 (principal) at 4.38% interest.

How much is the Towne Bank contract with Town of Duck worth?

The Towne Bank contract with Town of Duck is valued at $426,209 (principal) at 4.38% interest, 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 Town of Duck AgendaPacket Regular Meeting 2026-08-05 (AgendaPacket), dated August 5, 2026 from Town of Duck. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Towne Bank hold?

Towne 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.

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What is Town of Duck currently buying?

Explore Town of Duck's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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