New Smyrna Beach Opengov #24-26-FIN

Tax-Exempt Fixed Rate Loan for Capital Improvement Refunding and Issuance Costs

The City of New Smyrna Beach, Florida is seeking proposals from financial institutions for a tax-exempt, fixed rate loan to support capital improvement financing. - Government Buyer: - City of New Smyrna Beach, Purchasing Department - Hilltop Securities Inc. is the City's Financial Advisor - Purpose of Loan: - Refunding the outstanding Capital Improvement Revenue Note, Series 2024 - Funding issuance costs associated with the new loan - Loan Details: - Series 2024 Note was originally an interim draw down note - New loan will provide long-term, fixed rate financing - Estimated loan value up to $11,000,000 - Requirements: - Tax-exempt, fixed rate structure - Ability to manage both refunding and issuance cost funding - Eligible Vendors: - Qualified financial institutions capable of banking, loan administration, and related financial services - No specific OEMs or product manufacturers are named, as this is a financial services solicitation

Description

This solicitation is for a tax-exempt, fixed rate loan to refund an existing revenue note and fund issuance costs. The project is managed by the Purchasing department of the City of New Smyrna Beach, Florida. The solicitation includes classifications related to banking, loans, and financial services. The deadline for questions is September 14, 2026, and the response deadline is September 21, 2026. The project is overseen by Hilltop Securities Inc. as Financial Advisor and is open for responses via the City of New Smyrna Beach procurement portal.

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