Magnolia Public Schools Intraorganization Loan Agreements May 2026
MSA-7 restructures $1.31M intraorganization loan
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Description
Magnolia Science Academy‑7 restructures its intraorganization borrowing from MERF, retaining about $1.31 million at 4% interest with a payment deferral until mid-2027 and a 2032 maturity. The amendment sets a quarterly repayment schedule to support operational stabilization.
Contract Details
Contract Amount
Not to exceed $1,308,806.85
Vendor
MAGNOLIA SCIENCE ACADEMY-7
Agency
Magnolia Science Academy Bell District, CA
Contract Type
FINANCIAL_SERVICES
Document Date
May 20, 2026
Contract Term
Interest accrues beginning January 1, 2026; no payments due January 1, 2026–June 30, 2027; quarterly payments starting July 1, 2027; loan matures June 30, 2032
Renewal Date
2032-06-30
Renewal Info
Amends the intraorganization loan agreement dated January 24, 2026, extending maturity to June 30, 2032 and revising repayment terms.
More from MAGNOLIA SCIENCE ACADEMY-7
Related Contracts
Magnolia Public Schools AgendaPacket Approval of Resolutions for Restructuring and New Intra-Organization Loans 2026-05-21
AMENDEDMagnolia Educational & Research Foundation Board Resolutions May 2026
AMENDEDMore 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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