River Ridge ratifies $2.5 million tax‑exempt term note at 5.32%
The Board accepted unaudited financial statements through May 31, 2026 and approved execution of documents and ratification of a resolution for a $2.5 million Series 2026 Gulf Coast Business Bank tax‑exempt term note with a final interest rate of 5.32%.
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The Board accepted the unaudited financial statements as of May 31, 2026 and discussed balance sheet "due to"/"due from" entries and reclassifications. Tony Pires recalled that the Term Sheet rate was 5.17% and said that when reset the interest rate was 5.32%.
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