River Ridge CDD approves $2.5 million tax‑exempt term note at 5.32%

Cleo Adams, District Manager, presented the unaudited financial statements as of May 31, 2026 and distributed updated Capital Improvement Project projections. The Board approved executing all necessary documents, ratifying the resolution, and accepting the revised Term Sheet, Loan Agreement and Note for a $2.5 million Series 2026 Gulf Coast Business Bank Tax Exempt Term Note with a final rate of 5.32% (the Term Sheet rate had been 5.17%). The motion was made by Kurt Blumenthal and seconded by Robert Twombly and was approved "with all in favor."