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Delaware County treasurer outlines line-of-credit and tax-anticipation warrant options
Summary
Treasurer Brad Polk updated the council on talks with two local banks about a possible line of credit or a tax-anticipation warrant, outlining tradeoffs between floating and fixed rates, application fees, and information banks would require before offering firm terms.
At a budget hearing, Delaware County Treasurer Brad Polk told council members he has spoken with two local banks about either a line of credit or a tax-anticipation warrant to manage potential short-term cash flow gaps.
Polk said the tax-anticipation warrant offers fixed interest rates, while a line of credit would carry a floating rate tied to the Federal Reserve. "The line of credit would be a floating. They based it off of what the Fed's rate is," Polk said. He said banks indicated interest would depend on how much the county sought to borrow and that banks would want to see cash-flow…
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