County officials weigh short-term borrowing to cover $6 million retirement payment; board moves to seek TAN up to $25 million

County finance staff and the board’s bond counsel spent an extended portion of the meeting on Sept. — discussing whether to use a tax‑anticipation note, or TAN, to bridge a $6 million retirement contribution the county may have to pay in December rather than postponing until February.

The conversation matters because the county faces tight cash flows and other projected budget pressures; a short‑term TAN would provide cash ahead of tax receipts but carries issuance costs and interest the county would have to cover.

Larry, the county bond counsel, told the board: “So a tax anticipation note, municipality can issue it in anticipate exactly what it says. In anticipation of a tax to be received.” He and county finance staff ran several numerical examples showing the near‑term borrowing cost could roughly match the loss of a vendor discount the county would forfeit by delaying the retirement payment.

County staff estimated the retirement contribution at “round numbers” of about $6,000,000. Officials said the county can take an early‑payment discount by…