River Ridge approves $2.5 million tax‑exempt term note at 5.32%

The Board approved executing all necessary documents, ratifying the Resolution and approving the revised Term Sheet, Loan Agreement and the $2.5 million Series 2026 Gulf Coast Business Bank Tax Exempt Term Note at a final rate of 5.32%. District Counsel Tony Pires recalled the Term Sheet rate was 5.17% and that it reset to a final rate of 5.32%; Mr. Adams indicated Mr. Blumenthal had been informed about the rate before the note closed.