Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Woodland Park School District RE-2 board approves $3 million cap in state interest-free loan program
Summary
At a special meeting the Woodland Park School District RE-2 board approved a resolution to raise its borrowing limit under the state treasurer's interest-free loan program from $2,000,000 to $3,000,000 to provide a short-term cash buffer ahead of property-tax receipts.
At a special meeting, the Woodland Park School District RE-2 Board of Education approved a resolution to increase its borrowing limit under the state treasurer's interest-free loan program from $2,000,000 to $3,000,000.
The board moved and voted on the resolution after Speaker 3 described the program as "an interest free program" and said the district is required to repay roughly $2,000,000 when property-tax revenues arrive next month. Speaker 3 said the additional roughly $1,000,000 would provide a short-term buffer so the district can continue paying suppliers and employees while awaiting tax receipts. "As you pay back…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
