Board approves $2.5 million tax-exempt term note, notes monument bid increase
The River Ridge Board approved a $2.5 million tax-exempt term note from Gulf Coast Business Bank, subject to amending an acceleration clause and finalizing documents. Staff noted a verbal increase in the monument bid from $250,000 to $631,000 and discussed phasing options.
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The board voted May 26 to accept a Gulf Coast Business Bank tax-exempt term note financing $2,500,000, with the approval conditioned on amending the note's acceleration provision and finalizing documentation. The motion was made by Supervisor Kurt Blumenthal, seconded by Chair Bob Schultz, and recorded "with all in favor."
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