Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance Transactions topic
No spam. Unsubscribe anytime.
Williamsport council approves $1.4 million tax and revenue anticipation note for 2025
Summary
The council unanimously authorized a tax-and-revenue anticipation note (TRAN) of $1.4 million with a multiple-draw structure and tax-free treatment to manage 2025 cashflow needs.
The Williamsport City Council on Jan. 2 authorized the issuance and sale of a 2025 tax and revenue anticipation note (TRAN) for up to $1,400,000, approving the resolution unanimously.
Finance staff said the new resolution supersedes a similar 2024 resolution and switches to a multiple-draw structure so the city will only borrow (and incur interest) if it actually needs funds. Jamie Livermore, who presented the proposal, said she worked with Yen of Eckert Simmons Law Firm and that the $1.4 million amount can remain tax-free. "1.4 should be satisfactory if we do need it," Livermore told council.
Council recorded the motion and second and approved the resolution by roll call; the clerk recorded five affirmative votes. Livermore said the multiple-draw approach matches past practice and provides flexibility compared with the single-draw structure in the earlier resolution.
No amendments or public comments were recorded on the item. Councilmembers thanked staff and moved on to consent items and scheduled an executive session after the meeting.
