River Ridge CDD to move $700,000 to Insured Cash Sweep; construction loan term sheet forthcoming
The Board discussed the Unaudited Financial Statements and agreed in principle to transfer $700,000 to an Insured Cash Sweep (ICS) account; staff will also seek information on longer-term CDs and present a $2.5 million construction loan term sheet at the next meeting.
The full story
Cleo Adams, District Manager, presented the Unaudited Financial Statements as of March 31, 2026. Board member Kurt Blumenthal said the Insured Cash Sweep (ICS) account appeared beneficial; Mr. Chuck Adams (staff) responded that he would transfer $700,000 to the ICS account and would seek information about longer-term certificates of deposit for Board consideration at a future meeting.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.
Keep reading for free
Create a free account to finish this story and see the video, transcript and key details.
Continue with GoogleContinue with emailAlready have an account? Log in