River Ridge Board ratifies $2.5 million tax‑exempt term note at 5.32%
The Board ratified documents and approved a revised Term Sheet, Loan Agreement and Note for a $2.5 million Series 2026 Gulf Coast Business Bank Tax‑Exempt Term Note, with the final interest rate reported as 5.32%.
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District Manager Chuck Adams presented the unaudited financial statements as of May 31, 2026 and discussed budget variances and the balance sheet 'due to' / 'due from' amounts. District Counsel Tony Pires reminded the Board that the Term Sheet rate had been 5.17% and that the reset produced a final interest rate of 5.32%.
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