The municipal administration association will take out a development loan of 25 million euros from the KfW bank. The money is intended to secure liquidity during the new construction of the Ruth Cohn School, which will cost at least 40 million euros. “The first bills will come with the first measures,” said the association’s chairman, Markus Hollemann, explaining the “flexible need for cover funds”.
The sum can now be accessed in installments over a period of three years at the applicable daily interest rate. The mayors of the associated municipalities of Reute, Vörstetten and Denzlingen have to agree on the right time. The loan runs for 30 years, and interest is fixed for ten years. Special repayments are possible at any time. The loan is included in a supplementary budget.
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