Magnolia Public Schools Intraorganization Loan Agreements May 2026
MSA-6 approves new $800K intraorganization loan
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Description
Magnolia Science Academy‑6 approves a new intraorganization loan of up to $800,000 to MERF at 4% interest, deferring payments for one year before quarterly repayments begin and concluding in 2032. The agreement is structured to support organizational and operational needs.
Contract Details
Contract Amount
Not to exceed $800,000
Vendor
MAGNOLIA SCIENCE ACADEMY-6
Agency
Magnolia Science Academy Bell District, CA
Contract Type
FINANCIAL_SERVICES
Document Date
May 20, 2026
Contract Term
Interest accrues beginning July 1, 2026; no payments due July 1, 2026–June 30, 2027; quarterly payments starting July 1, 2027; loan matures June 30, 2032
Renewal Date
2032-06-30
Renewal Info
New intraorganization loan agreement with deferred payments and a fixed maturity date of June 30, 2032; no prior agreement referenced for this loan.
More from MAGNOLIA SCIENCE ACADEMY-6
Related Contracts
Magnolia Public Schools AgendaPacket Approval of Resolutions for Restructuring and New Intra-Organization Loans 2026-05-21
APPROVEDMagnolia Educational & Research Foundation Board Resolutions May 2026
APPROVEDMore from Magnolia Science Academy Bell District
Magnolia Educational & Research Foundation Board Resolutions May 2026
Magnolia Public Schools Intraorganization Loan Agreements May 2026
Magnolia Public Schools Intraorganization Loan Agreements May 2026
Magnolia Public Schools Intraorganization Loan Agreements May 2026
Magnolia Public Schools Intraorganization Loan Agreements May 2026
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