River Ridge board adopts Resolution 2024-05 and approves $173,367.78 ditch-cleaning estimate to fund drainage work
The River Ridge CDD adopted Resolution 2024-05 to amend the Series 2024 Note loan agreement to allow revised project scope and, in a separate motion, approved an MRI Construction, Inc. estimate of $173,367.78 to clean dry retention flow-way ditches adjacent to River Course holes #6–#8; both motions passed unanimously.
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Chuck Adams, the district manager, presented Resolution 2024-05 to amend the use of proceeds for the District’s Improvement Revenue Note, Series 2024, and to enter a first amendment to the loan agreement with Synovus Bank. On a motion by Supervisor Kurt Blumenthal, seconded by Supervisor Terry Mountford, the board adopted Resolution 2024-05 "Authorizing an Amendment in the use of the Proceeds of its Improvement Revenue Note, Series 2024; Authorizing the District to Enter Into a First Amendment to Loan Agreement with Synovus Bank, the Purchaser of the Note; and Providing an Effective Date." The motion carried "with all in favor."
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