River Ridge authorizes $2.5 million tax‑exempt term note after monument bid spike
After hearing that monument bids jumped from $250,000 to $631,000, the Board authorized a Gulf Coast Business Bank tax‑exempt term note for $2.5 million, subject to finalizing documents and amending an acceleration clause.
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The River Ridge Board authorized a Gulf Coast Business Bank tax‑exempt term note financing $2.5 million on May 26, while noting a substantial, verbal increase in monument bid costs reported by staff.
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