CDD approves $2.5 million tax‑exempt term note amid rising monument bids
The Board approved a $2.5 million tax‑exempt term note from Gulf Coast Business Bank, while staff reported a verbal vendor increase for four monuments from $250,000 to $631,000 and discussed deferring monument work.
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The River Ridge Board on May 26 approved a Gulf Coast Business Bank tax‑exempt Term Note financing $2,500,000, subject to amending the acceleration clause and finalizing documents, and authorized the chair to execute the finalized paperwork. The motion passed unanimously after discussion about project phasing and costs.
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