Magnolia Public Schools Intraorganization Loan Agreements May 2026
Bell campus amends $1.31M loan to MERF
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Description
Magnolia Science Academy‑Bell(8) updates its intraorganization loan to MERF, capping the balance at about $1.31 million at 4% interest and deferring payments until mid-2027 with a 2032 maturity. The revised schedule is structured with quarterly payments to align with organizational cash flow.
Contract Details
Contract Amount
Not to exceed $1,308,806.85
Vendor
MAGNOLIA SCIENCE ACADEMY-BELL(8)
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, maintaining the outstanding amount but revising repayment deferral and setting maturity at June 30, 2032.
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Magnolia Public Schools Intraorganization Loan Agreements May 2026
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