The City of Archer seeks proposals from qualified banks to refinance its existing line of credit into a structured term loan. Proposers must provide pricing for two alternatives: an $800,000 loan and a $1,000,000 loan, both with a 25-year fixed-rate term and amortization. Proposals must be sealed and received by October 1, 2026, at 5:00 p. m. ET. The selected institution must also maintain eligible city depository accounts. Evaluation is based on the best overall value.
Proposals must be received no later than 5:00 p. m. eastern time on October 1, 2026, sealed proposals must be received no later than 5:00 p. m. eastern time on october 1, 2026
The base loan structure requires monthly principal and interest payments.
Selection will be based on the proposal determined to provide the best overall value and serve the city's interests.
A responsive proposer must be a bank, credit union, savings association, or other regulated financial institution authorized to conduct the proposed business in florida.
The base proposal must permit prepayment without penalty, premium, yield maintenance, makewhole amount, minimum interest, or other charge.
Written questions must be sent to the city manager at ***@***. *. * by 5:00 p. m. eastern time on September 22, 2026. written questions must be sent to the city manager at ***@***. *. * by 5:00 p. m. eastern time on september 22, 2026.
A proposer may be disqualified if its authority, condition, or capacity is not adequately established.
The city requests pricing for two alternatives: an 800, 000 loan alternative and a 1, 000, 000 loan alternative.