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Board authorizes contingent $5 million line of credit to manage seasonal cash shortfall
Summary
Trustees approved a contingent revolving line of credit with Nebraska Land Bank (initial $5 million, 4.5% fixed interest, $2,150 origination fee) to cover temporary cash‑flow shortfalls while waiting on major receipts. District finance director said prior seasonal draws were paid off by March.
The North Platte Public Schools board on Dec. 8 authorized the superintendent to secure a revolving line of credit with Nebraska Land Bank if needed to manage seasonal cash shortfalls.
Dr. McDonald, the district finance director, told trustees the proposed facility would start with a $5,000,000 credit limit at a fixed 4.5% interest rate with an origination fee of $2,150.…
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