FINANCIAL_SERVICESAPPROVED

Town of Wadena Awards Financial Services Contract to Wadena State Bank (July 2026)

The City Council approved a $360,000 GO Equipment Certificate, Series 2026A, financed through Wadena State Bank at 4.5% interest over 10 years to purchase a 2026 Rosenbauer tanker Freightliner chassis. Bi-annual payments will follow the existing fire township and city cost allocation agreement.

Document date · July 14, 2026

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

The full contract record, as filed.

Contract amount
$360,000 (bond principal), 4.5% interest, 10-year loan
Contract type
FINANCIAL_SERVICES
Contract term
10-year loan, bi-annual debt payments
Renewal date
2036-12-31
Renewal
Finite 10-year loan; bond payments on the 2019 pumper retire in 2029, after which budgeted debt service will be redirected to this loan.
Document type
Minutes
Source document
City of Wadena Minutes Regular City Council Meeting 2026-07-14

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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 Wadena?

Wadena State Bank was awarded this financial services contract by Town of Wadena, as recorded on July 14, 2026. The contract value is $360,000 (bond principal), 4.5% interest, 10-year loan.

How much is the Wadena State Bank contract with Town of Wadena worth?

The Wadena State Bank contract with Town of Wadena is valued at $360,000 (bond principal), 4.5% interest, 10-year loan, 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 City of Wadena Minutes Regular City Council Meeting 2026-07-14 (Minutes), dated July 14, 2026 from Town of Wadena. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Wadena State Bank hold?

Wadena State 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 Wadena State Bank's profile

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