River Ridge approves $2.5 million tax‑exempt term note after monument bid jumps
Board approved a Gulf Coast Business Bank tax‑exempt term note financing $2,500,000, subject to amending an acceleration clause and finalizing documents, after staff reported the four‑monument bid rose from $250,000 to $631,000 and raised concerns about sufficiency of the note.
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District staff informed the Board that the bid for four monuments rose from $250,000 to $631,000 and is not itemized nor inclusive of landscaping costs. Chuck Adams said the term note as proposed could be insufficient in light of the verbal increase; the Board discussed phasing projects and delaying the monuments if necessary.
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