Board approves $2.5M tax‑exempt term note amid monument cost increase

Eric Long informed the board that the bid for four monuments rose verbally from $250,000 to $631,000 and that the increase was not itemized or inclusive of landscaping. Board members discussed options including proceeding with permitting while postponing the monuments and awaiting value‑engineering numbers. The board approved a Gulf Coast Business Bank tax‑exempt term note financing $2,500,000, subject to amending the acceleration clause in the note, finalizing documents and authorizing the chair to execute.