Chester-Upland board, receiver approve $19.25 million tax‑anticipation note amid state budget delay

Chester — The elected Chester‑Upland School District board and the district receiver unanimously approved a resolution Aug. 28 authorizing a $19,250,000 tax and revenue anticipation note to cover short‑term cash‑flow needs while the district awaits state subsidy payments.

The special public meeting, advertised in the Delaware County Times and held at the district administrative offices, was called specifically to consider “a short term tax anticipation” borrowing under the Pennsylvania Local Government Unit Debt Act (Act 53) to bridge expenses if the Commonwealth’s budget and subsidy payments are delayed.

At the meeting a resident, Sylvia Richbill of Glenolden, asked whether collateral would back the loan. The receiver responded that the district’s real‑estate tax receipts would serve as the collateral, and that…