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Manatee school board approves $45 million tax‑anticipation note; closing set for Oct. 9
Summary
The School Board of Manatee County unanimously approved Resolution 2025‑009 authorizing a tax anticipation note (TAN) for the general fund, with a projected issuance of $45 million and a maturity date of Feb. 26, 2026.
The School Board of Manatee County on Sept. 16 approved Resolution 2025‑009 authorizing a tax‑anticipation note for the district’s general fund, voting 5‑0.
Superintendent Dr. Lori Breslin and a staff presenter explained the note will be used to manage general fund cash flow. A district staff member who spoke at the meeting said the district now projects issuing $45,000,000 of TANs rather than an earlier estimate of $55,000,000 and that the note will close on Oct. 9 and mature Feb. 26, 2026.
The board’s approval follows a workshop earlier the same day on the tax anticipation notes. No board member requested additional changes during the Sept. 16 vote.
The TANs are a short‑term financing tool districts commonly use to meet operating expenses while property tax revenues are collected; the district presented the timing and projected size to the board before the vote. The motion passed unanimously.
Board action: Resolution 2025‑009 — approval (vote 5‑0).
