international-school-of-monterey-board-meeting-agenda-june-11-2024_c9f.pdf
Line of Credit with Pacific Valley Bank Approved
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Description
The International School of Monterey Board approved establishing a $250,000 line of credit with Pacific Valley Bank to support cash flow during state funding deferrals. The responsibility for loan repayment lies solely with ISM, not the district. The contract is effective July 1, 2013, and is being continued for 2024-2025.
Contract Details
Contract Amount
$250,000
Vendor
PACIFIC VALLEY BANK
Agency
International School of Monterey District, CA
Contract Type
FINANCIAL_SERVICES
Document Date
June 11, 2024
Renewal Info
Resolution periodically reaffirmed to maintain access to line of credit for cash flow purposes. Renewed per board action as needed.
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