River Ridge ratifies documents for $2.5 million Series 2026 tax‑exempt term note at 5.32%

The Board approved the execution of loan documents, ratification of a resolution and the revised Term Sheet for a $2.5 million Series 2026 Gulf Coast Business Bank Tax Exempt Term Note, with the final reset interest rate recorded at 5.32%. District Counsel Tony Pires recalled that the Term Sheet rate was 5.17% and that the rate reset to 5.32%. On motion by Kurt Blumenthal and seconded by Robert Twombly, the Board voted to execute all necessary documents and approve the loan agreement and note.