Board approves $2.5 million tax‑exempt term note to finance projects, monuments deferred
River Ridge CDD approved a $2,500,000 tax‑exempt term note from Gulf Coast Business Bank, subject to amending the acceleration clause and finalizing documents; bids for four monuments reportedly rose verbally to $631,000, prompting consideration to delay monument work.
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The River Ridge Board approved a Gulf Coast Business Bank tax‑exempt term note financing $2,500,000, with the approval conditioned on amending an acceleration clause and finalizing documents. The motion was made by Mr. Blumenthal, seconded by Mr. Schultz, and passed unanimously.
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