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Bonner County Ambulance District repays $500,000 TAN principal and keeps line open
Summary
The Bonner County Ambulance Service District commissioners voted to repay $500,000 of the district's Tax Anticipation Note (TAN) principal while leaving the TAN facility open. Chief Lindsay presented a budget update showing current cash, projected revenue and expenses and recommended the payment to stop further interest accrual.
The Bonner County Ambulance Service District commissioners voted to repay $500,000 of the district's Tax Anticipation Note (TAN) principal and keep the TAN account open, a move the commissioners said will stop additional interest from accruing while preserving a borrowing facility.
Chief Lindsay, who presented the district's fiscal forecast, told the board the figures are preliminary and will change as staffing and billing patterns evolve. "We didn't create this problem, we're dealing with the problem," Chief Lindsay said, describing the multi-year fiscal shortfall the district is addressing.
Why it matters: The payment reduces the TAN principal outstanding and halts additional interest…
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