}

Wednesday, May 24, 2017

LIKE A SNAKE EATING ITS OWN TAIL: Stuck In The Abyss Of Their Own Morass

Here's the complete story of the Grand Traverse Academy's $2.33 million dollar outstanding loan in pictures. No bullshit stories about chipping away at a ten-year-old loan or how the Michigan Finance Authority won't reauthorize a loan it never issued in the first place, or how Traverse City State Bank is not happy with the Grand Traverse Academy. 

The GTA board did not participate in the 2016 Michigan Finance Authority's State Aid Note loan program, and instead approved a $2.33 million bond issued on the school's behalf on September 6, 2016 by registered owner Traverse City State Bank. 

A $2,341,536.74 balloon payment is due to TCSB on August 26, 2017.

Instead, the truth as told by the documents, Part 1.

When you dig a ditch, lie in in, and cover yourself with dirt, you can't cry about how dark the world has gotten.












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