River Ridge board approves $2.5 million term note after monument bid jumps
The board approved a $2.5 million tax‑exempt term note to fund planned capital projects after hearing that monument costs rose sharply; approval was subject to final document revisions including an acceleration clause amendment.
The full story
Chair Bob Schultz and the River Ridge Community Development District Board voted on May 26 to approve a Gulf Coast Business Bank tax‑exempt term note financing $2,500,000 to support capital projects, subject to amending an acceleration clause and finalizing documents. The motion, made by Supervisor Kurt Blumenthal and seconded by Chair Bob Schultz, passed unanimously with all five supervisors voting in favor.
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