2026:22 Short Term Financing

The City of Jonesboro is seeking bids for short-term financing to purchase and improve real estate. The financing should be compliant with Amendment No. 78 to the Arkansas Constitution. The amount of the loan should not exceed $3,000,000, and the repayment term should not be longer than 5 years. The bid should include the interest rate, principal payment schedule, and any fees or other considerations. • The bid must be signed and include the bid number on the outside of the envelope. • The City reserves the right to accept or reject any bid. • The bid opening will be held in the 3rd floor conference room. • The City encourages minority business enterprises to participate in the bidding process. • The bid should include any guarantees or warranties for the financing. • The City may accept any item in the bid, and the bidder should be aware of Davis-Bacon wage rates and Buy America regulations if applicable.