Magnolia Public Schools AgendaPacket Approval of Resolutions for Restructuring and New Intra-Organization Loans 2026-05-21
MERF approves revised terms on $3.7M MSA-8 loan
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Description
MERF, as borrower, approved amended terms on an approximately $3.7 million intraorganization loan from MSA-8, locking in 4% interest and a five-year amortization starting in 2027. The restructuring extends maturity to June 30, 2032 and supports organizational cash flow.
Contract Details
Contract Amount
Approximately $3,700,000
Vendor
MAGNOLIA EDUCATIONAL & RESEARCH FOUNDATION DBA MAGNOLIA PUBLIC SCHOOLS
Agency
Magnolia Science Academy 2 District, CA
Contract Type
FINANCIAL_SERVICES
Document Date
May 21, 2026
Contract Term
January 1, 2026 – June 30, 2032 (5-year amortization beginning July 1, 2027)
Renewal Date
2032-06-30
Renewal Info
Amends the December 11, 2025 Intraorganization Loan Agreement with MSA-8 while leaving other provisions in force; includes subordination to existing third-party debt and prepayment without penalty.
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