Dunedin Demandstar #RFP 25-2546

City of Dunedin Solicits $12M Tax-Exempt Bank Loan for Hurricane Recovery

The City of Dunedin in Pinellas County, Florida, is seeking proposals from financial institutions for a tax-exempt variable rate line of credit up to $12 million to support hurricane recovery efforts. - Government Buyer: - City of Dunedin, Pinellas County, Florida - OEMs/Financial Institutions (Potential Bidders): - Achieva Credit Union - BankUnited, NA - J.P. Morgan Chase - Regions Bank - Seacoast Bank - SouthState Bank - Sterling National Bank - TD Bank, N.A. - Wells Fargo - Products/Services Requested: - Tax-exempt variable rate line of credit (bank loan) up to $12,000,000 - To finance and/or reimburse costs for repairing capital facilities and debris removal due to Hurricane Helene and Hurricane Milton - To cover loan issuance costs - Notable Requirements: - Loan secured by a covenant to budget and appropriate legally available non-ad valorem revenues - Proposals must offer the lowest overall borrowing cost and most favorable financial/legal terms - Open to qualified financial institutions able to provide tax-exempt financing

Description

The City of Dunedin is seeking proposals for a tax-exempt variable rate line of credit not to exceed $12,000,000. The loan will finance repairs and debris removal related to hurricanes, with proceeds used for reimbursing costs and funding issuance. The loan is payable from non-ad valorem revenues of the City of Dunedin. The solicitation is currently awarded, with a response deadline of January 9, 2026.

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