Redford Union Schools Board of Education Regular Board Meeting Agenda 2026-06-15
Board Considers $5 Million State Aid Note Borrowing
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Description
The Redford Union Schools Board of Education will consider a resolution to borrow up to $5 million in August 2026 through the Michigan Finance Authority under a State Aid Note (SAN) program. The resolution authorizes interim financing for district cash flow needs for the upcoming fiscal year.
Contract Details
Contract Amount
Not to exceed $5.0 million
Vendor
MICHIGAN FINANCE AUTHORITY
Agency
Redford Union Schools District No. 1, MI
Contract Type
FINANCIAL_SERVICES
Document Date
June 15, 2026
Contract Term
August 2026 borrowing
Renewal Date
2026-08-31
Renewal Info
Single borrowing event for August 2026; no renewal indicated.
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