Seaside board authorizes short‑term TANS borrowing to bridge fall payroll
The board adopted Resolution No. 5 authorizing a tax‑anticipation note (TANS) as a short‑term loan to bridge cash‑flow between summer payroll and property tax receipts in November; staff said interest is charged only on funds used and that the district has used TANS previously.
The full story
The board considered Resolution No. 5 to authorize a Tax Anticipation Note (TANS), a short‑term borrowing mechanism to bridge the gap between summer/fall payroll demands and property tax receipts, which typically arrive in November.
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