Revolving Renovation Loan for Addition to Xxxxxxxx Elementary School Sample Clauses

Revolving Renovation Loan for Addition to Xxxxxxxx Elementary School. In 2003, SAD 58 issued a bond in the principal amount of $824,490 for a revolving renovation fund loan for the addition to Xxxxxxxx Elementary School. At the time this bond was approved, the Town of Eustis was a member municipality of SAD 58 and became legally obligated to pay its share of this indebtedness. As of the Effective Date, SAD 58 will owe $41,306.90 in principal and no interest on this obligation. As an alternate means of retiring Eustis’ share of this indebtedness, the New Xxxxxx XXX will pay SAD 58, thirty two and 28/100ths percent (32.28%) of the final principal installment on this indebtedness or $13,333.87 on July 1, 2013.
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Related to Revolving Renovation Loan for Addition to Xxxxxxxx Elementary School

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