Request For Bank Loan Proposals

The City of Palm Bay, Florida is seeking a tax-exempt fixed rate bank loan to fund the Design-Build Services for the St Johns Heritage Parkway – Interchange to Babcock Street Project. The loan amount is not to exceed $9,000,000.00. The city will select the bank financing that provides the lowest overall borrowing cost to the city and meets the financing requirements of the city. • The loan will be used to fund the construction of a connector road to a new I-95 interchange exit. • The city will accept and review proposals from qualified banking institutions. • The city's financial advisor, Hilltop Securities Inc., will be assisting the city with respect to the loan. • The bid submission date was January 29, 2018, and the award was made on February 15, 2018.