Board authorizes $2.5M Gulf Coast Business Bank tax‑exempt term note, subject to edits
The River Ridge board approved a $2.5 million tax‑exempt term note with Gulf Coast Business Bank May 26, with the approval contingent on amending the note's acceleration clause and finalizing documents; monumental signage costs were discussed.
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Board members authorized a Gulf Coast Business Bank tax‑exempt term note financing $2,500,000 on May 26, subject to finalizing documents and amending an acceleration provision in the Note. The motion was made by Assistant Secretary Kurt Blumenthal and seconded by Chair Bob Schultz and passed unanimously.
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