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Board notes Abby Bank line of credit at 6.350% for 2024–25
Summary
The board acknowledged that Abby Bank has provided the district with a line of credit for 2024–25 carrying an interest rate of 6.350%; the arrangement was presented for approval in the meeting.
Board and administration discussed a line of credit option for the 2024–25 fiscal year: Abby Bank has offered the district a line of credit with an interest rate of 6.350%. The board recorded the financing arrangement as part of its regular-business financial items.
No additional terms were discussed in detail during the meeting transcript beyond the interest rate and the bank name; the board noted the line of credit as a tool for short-term liquidity during the fiscal year.
