River Ridge ratifies $2.5 million tax-exempt term note at 5.32% and accepts May financials
The Board accepted the unaudited financial statements as of May 31, 2026 and ratified execution of documents for a $2.5 million Series 2026 Gulf Coast Business Bank Tax-Exempt Term Note; counsel reported a final interest rate of 5.32%.
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Mrs. Cleo Adams presented the unaudited financial statements as of May 31, 2026 and reviewed line items including balance-sheet 'due to' and 'due from' amounts and an administrative-fee recoding to the Debt Service line item. The Board accepted the financials as presented for informational purposes.
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