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Town of Brighton notifies TLDA of intent to issue $428,000 water and sewer bonds; lien will be subordinate to SRF loans
Summary
TLDA staff notified the board that the Town of Brighton submitted written notice of intent to issue $428,000 in water and sewer bonds; the bonds will carry lien positions subordinate to the town's outstanding SRF loans.
At the May 19, 2025, meeting of the Tennessee Local Development Authority, staff reported written notification from the Town of Brighton that it intends to issue $428,000 in water and sewer bonds in accordance with TLDA policy and guidance for borrowers.
Miss Thompson, TLDA staff, told the board the bonds "will be issued with a lien position that's subordinate to the lien position of their outstanding SRF loans." The item was presented as a nonaction notification; the board acknowledged the notice and did not take further action.
No additional terms, issuance schedule or purchaser information was provided in the meeting record. Staff characterized the submission as complying with TLDA borrower notification requirements.
