District Approves $500,000 Loan for Capital Assets
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Description
Gilmer ISD approved a $500,000 five-year loan from First National Bank of East Texas to finance capital asset purchases. The financing arrangement was unanimously authorized by the board.
Contract Details
Contract Amount
$500,000
Vendor
FIRST NATIONAL BANK OF EAST TEXAS
Agency
Gilmer Isd, TX
Contract Type
FINANCIAL_SERVICES
Document Date
May 15, 2023
Contract Term
5-year loan
Renewal Date
2028-05-15
Renewal Info
Loan term is five years; refinancing or renewal at maturity would require future board consideration.
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