On November 1st, the City took out a $2 million bridge loan to make the $3.1 million payment that was due on our bond payments/debt service. Since that time, the City has made two installment payments towards paying off that bridge loan totaling $998,670.84 in principal and $4,831.60 in interest. This leaves a principal balance of $1,001,329.16 on this bridge loan.

We will continue to keep you apprised of our progress.