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River Ridge reviews unaudited financials, plans to prepay Series 2022A note; approves prior minutes
Summary
The board reviewed unaudited financial statements as of Oct. 31, 2024 and agreed to close the Series 2022A Note and apply funds to prepay bond debt; the Board also approved amended Oct. 22 minutes.
Mrs. Adams presented the unaudited financial statements as of Oct. 31, 2024 and stated the Series 2022A Note will be closed with funds applied to prepay bond debt. Board members asked for clarification on specific check‑register items; Mr. Blumenthal asked why an Oct. 1 annual insurance payment did not appear and Mrs. Adams said she would investigate and report back.
The Board also reviewed and approved edits to the Oct. 22, 2024 meeting minutes (name and wording corrections) and approved the amended minutes on a motion by Mr. Blumenthal seconded by Mr. Mountford.
