Magnolia Public Schools Intraorganization Loan Agreements May 2026
MERF restructures $3.7M intraorganization borrowing
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Description
Magnolia Educational & Research Foundation updates its intraorganization borrowing terms on a loan of up to approximately $3.7 million from Magnolia Science Academy-Bell(8), deferring payments until mid-2027 and setting a 2032 maturity at 4% interest. The amendment restructures repayment to support organizational cash flow and complies with FCMAT guidance.
Contract Details
Contract Amount
Not to exceed approximately $3,700,000
Vendor
MAGNOLIA EDUCATIONAL & RESEARCH FOUNDATION DBA MAGNOLIA PUBLIC SCHOOLS
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
Amendment to the intraorganization loan agreement dated December 11, 2025, maintaining the outstanding loan amount but revising repayment deferral, amortization schedule, and maturity to June 30, 2032.
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Magnolia Public Schools AgendaPacket Approval of Resolutions for Restructuring and New Intra-Organization Loans 2026-05-21
AMENDEDMagnolia Public Schools AgendaPacket Approval of Resolutions for Restructuring and New Intra-Organization Loans 2026-05-21
AMENDEDMagnolia Public Schools AgendaPacket Approval of Resolutions for Restructuring and New Intra-Organization Loans 2026-05-21
AWARDEDMagnolia Public Schools AgendaPacket Approval of Resolutions for Restructuring and New Intra-Organization Loans 2026-05-21
AMENDEDMagnolia Public Schools AgendaPacket Approval of Resolutions for Restructuring and New Intra-Organization Loans 2026-05-21
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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