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Board questions TANS and COPS modeling, seeks amortization details before borrowing
Summary
Committee members pressed district staff for clearer numbers and amortization schedules for proposed Tax Anticipation Notes (TANS) and Certificates of Participation (COPS), saying current board documents do not show whether the PI forecast payment covers combined debt service.
Committee members pressed district staff for clearer numbers and amortization schedules for proposed borrowing involving Tax Anticipation Notes (TANS) and Certificates of Participation (COPS), saying current board documents do not show whether the PI forecast payment covers combined debt service.
A committee member said the board packet should show the interest rate and the low and high borrowing scenarios. "TANS are 10 years," the Committee member observed; staff said the spreadsheet referenced a 5% interest rate for some calculations. The committee noted the district's PI forecast includes an…
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