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Vision Fund committee accepts financials; staff reports $10,598 adjustment to Superior Precast loan
Summary
Committee voted to accept the Vision Fund financial statements after staff outlined an approved adjustment increasing the Superior Precast loan by $10,598.42 for an interest-rate buy‑down; staff said updated promissory notes are in hand and the loan should close next week.
BISMARCK — The Vision Fund Committee voted Aug. 28 to accept the fund’s financial statements after staff described an updated loan adjustment for Superior Precast and reviewed the fund’s lending capacity.
Eric, finance staff, told the committee the Superior Precast loan amount changed because of market shifts and rising interest rates. "They are in need of $250,001.79 and 58¢. So it's a change of $10,598.42 that we're gonna be paying on their behalf for…
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