2014, Mayor and Council, Minutes, Minutes|

Bid Opening

December 19, 2014

601 High Street

 

  1. S. Ingersoll, Town Manager opened the quotes for the financing of 601 High Street Opening at 3:55 p.m. on Friday, December 19, 2014. In attendance were Patricia Diver, Director and Finance and Jennifer Mulligan, Town Clerk.

The bids were for $500,000.00 and the terms are as follows:

  1. BB&T Governmental Finance                                                             Term: 10 years at 2.59%

5130 Parkway Plaza Blvd.                                                                   Term:  12 years at 2.76%

Charlotte, NC  28217                                                                           There will be $900.00 remuneration for

704-954-1700                                                                                      legal expenses

 

  1. The People’s Bank                                                                               Term: 15 years at 2.99%

100 Spring Avenue

  1. O. Box 210

Chestertown, MD  21620

410-778-3500

 

  1. Centreville National Bank                                                                   Term: 2.82% fixed for 5 years based

109 N. Commerce Street                                                                    on a 15 or 20 year amortization

  1. O. Box 400

Centreville, MD  21617

410-758-1600

 

  1. Chesapeake Bank & Trust                                                                   Term: 3.41% fixed with 4 annualChestertown, MD 21620                                                                   Term: 65% of prime floading (currently
  2. 410-778-1600                                                                                      2.11%) for 15 years.
  3. 245 High Street                                                                                    payments of $43,135.14 for 5 years

 

  1. PNC Bank                                                                                               Term: 15 years at 2.55% with semi-Baltimore, MD 21202
  2. 443-955-8808
  3. 1 East Pratt Street                                                                                annual principal installments for 10 years.

Mr. Ingersoll stated that the bids would be examined for other fees and he would report to the Council the best terms presented.  The meeting was closed at 4:10 p.m.

 

Submitted by:

Jennifer Mulligan

Town Clerk

 

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