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Board approves line of credit with Farmers Savings Bank at 3.53% APR
Summary
The board approved a line of credit with Farmers Savings Bank at a 3.53% APR on a 5–0 vote at its June 8 meeting.
On June 8, the Mineral Point Unified School District Board approved a line of credit with Farmers Savings Bank at a stated annual percentage rate of 3.53%. Member Busch moved to approve the line of credit; Member Bergstrom seconded the motion and the board approved it unanimously, 5–0.
The minutes record the bank and APR explicitly; the board did not attach further qualifying language in the minutes excerpt. The line of credit will be administered by the district's business office and any draw or use will be subject to standard district financial controls and reporting.
