International School of Monterey Board Meeting Agenda 2026-06-16
Board Authorizes $350,000 Line of Credit with Pacific Valley Bank
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Description
International School of Monterey's Board approved securing a $350,000 line of credit with Pacific Valley Bank for FY2026-27 to address potential state funding deferrals. The arrangement is for one year and is the sole responsibility of the school for repayment.
Contract Details
Contract Amount
$350,000
Vendor
PACIFIC VALLEY BANK
Agency
International School of Monterey District, CA
Contract Type
FINANCIAL_SERVICES
Document Date
June 16, 2026
Contract Term
July 1, 2026 – June 30, 2027 (annual line of credit)
Renewal Date
2027-06-30
Renewal Info
Typically renewed annually if needed; authorized for the 2026-2027 fiscal year only per board resolution.
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