REQUEST FOR BANK LOAN PROPOSALS

The City of Palm Bay is seeking proposals from qualified financial institutions to provide a non-bank qualified fixed rate bank loan for the I-95 Interchange Project. The loan will be used to fund the cost of the project, which includes the acquisition of property and the construction of a new interchange. The city is looking for the lowest overall borrowing cost and has committed to assuring that the Parkway connection to Babcock Street is complete and operational on the date the interchange is completed. Key points about the contract include: • The loan will be used to fund the cost of the I-95 Interchange Project. • The city is looking for the lowest overall borrowing cost. • The loan will be a non-bank qualified fixed rate bank loan. • The city has committed to assuring that the Parkway connection to Babcock Street is complete and operational on the date the interchange is completed.