2016 Postmortem
In reply to the discussion: In another thread a poster was castigated for mentioning Clinton's tale of sniper fire at an airport [View all]Cali_Democrat
(30,439 posts)They fulfilled their pledges, but the pledge amounts were intentionally overstated in order to secure the loan:
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Two people whose pledges are listed as confirmed in the loan agreement told VTDigger that their personal financial records show their pledges were overstated. Neither were aware that the pledges were used to secure the loan.
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Peoples United Bank stipulated that at the time of the closing in December 2010, the school would provide a report as part of the loan agreement detailing fundraising collections, commitments and grants equal to $2,270,000 and information that would satisfy the bank that pledges were valid and enforceable commitments of the respective donors and granting parties.
Read more:
http://vtdigger.org/2015/09/13/jane-sanders-overstated-donation-amounts-in-loan-application-for-burlington-college/