River Ridge CDD approves $2.5 million term note after monument bid jumps
The River Ridge Community Development District approved a $2.5 million tax-exempt term note May 26 after board members were told monument construction bids rose from $250,000 to $631,000; approval was conditioned on amending the note's acceleration clause and finalizing documents.
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The River Ridge Community Development District voted May 26 to approve a Gulf Coast Business Bank tax-exempt term note financing $2,500,000, subject to changes to the acceleration clause and finalization of loan documents. The motion, made by Kurt Blumenthal and seconded by Chair Bob Schultz, passed unanimously.
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