River Ridge approves $2.5 million tax-exempt term note at 5.32%
Board ratified execution of documents for the $2.5 million Series 2026 Gulf Coast Business Bank Tax Exempt Term Note, approving a final interest rate of 5.32% and delegating execution of closing documents; motion carried unanimously and will be assigned Resolution 2026-05.
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The River Ridge Board approved documents related to a $2.5 million Series 2026 Gulf Coast Business Bank tax-exempt term note on June 23. On a motion by Kurt Blumenthal, seconded by Robert Twombly, the Board approved executing all necessary documents, ratifying the resolution and approving the revised Term Sheet, Loan Agreement and Note at a final rate of 5.32%.
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