Magnolia Educational & Research Foundation Board Resolutions May 2026
MERF approves new $800K loan to MSA-OC
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Description
MERF authorized a new intraorganization loan agreement to provide up to $800,000 in financing to Magnolia Science Academy-OC at 4.0% interest. Payments are deferred until mid-2027, with quarterly repayments through June 30, 2032.
Contract Details
Contract Amount
Not to exceed $800,000
Vendor
MAGNOLIA SCIENCE ACADEMY-OC
Agency
Magnolia Science Academy Bell District, CA
Contract Type
FINANCIAL_SERVICES
Document Date
May 20, 2026
Contract Term
Interest from July 1, 2026; no payments due July 1, 2026–June 30, 2027; quarterly payments starting July 15, 2027; loan matures June 30, 2032
Renewal Date
2032-06-30
Renewal Info
New intraorganization loan agreement from MERF to MSA-OC with deferred payments until June 30, 2027 and maturity on June 30, 2032; officers are authorized to execute related documents and any future amendments.
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Magnolia Public Schools Intraorganization Loan Agreements May 2026
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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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