“If we don’t pay the state aid to Traverse City State Bank, they’re allowed to intercept our state aid coming in from the state and take it until the (debt) is satisfied,” said board treasurer Samer Bourdkani. “Basically, our immediate priority is to make sure we can secure this and get this going.”
Traverse City Record-Eagle
August 6, 2017
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Coming tomorrow, how the Grand Traverse Academy borrowed millions to repay millions to Traverse City State Bank...and will end up owing millions!
