Bid Opening
December 19, 2014
601 High Street
- 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:
- 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
- The People’s Bank Term: 15 years at 2.99%
100 Spring Avenue
- O. Box 210
Chestertown, MD 21620
410-778-3500
- Centreville National Bank Term: 2.82% fixed for 5 years based
109 N. Commerce Street on a 15 or 20 year amortization
- O. Box 400
Centreville, MD 21617
410-758-1600
- Chesapeake Bank & Trust Term: 3.41% fixed with 4 annualChestertown, MD 21620 Term: 65% of prime floading (currently
- 410-778-1600 2.11%) for 15 years.
- 245 High Street payments of $43,135.14 for 5 years
- PNC Bank Term: 15 years at 2.55% with semi-Baltimore, MD 21202
- 443-955-8808
- 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