EVSC RESOLUTION AUTHORIZING SCHOOL BOARD TO MAKE TEMPORARY LOAN TO PAY FOR CURRENT OPERATING EXPENSES.
SEE ATTACHED LINK OF THE LOAN RESOLUTIONÂ
FOOTNOTE: Â It’s our understanding that EVSC the interest rate for this loan is around 1.5%. Â if members of the EVCS School Board sign this temporary loan document it could allow the Bond Bank to charge EVSC up to 4.5% percent interest if they can’t meet the original terms of the loan agreement?
We wonder what is the total amount of money does the EVSC needs to borrow in order to cover current operations costs since the loan figure seemly wasn’t addressed in the above loan.
At the last school board meeting, it was stated by an EVSC administrator that the school board passed this type of temporary loan resolution in 2018 and 2019.
How about a motion for a 15% across the board pay cut for all EVSC Administration! Is there a second?
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