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Fulton County approves $275 million tax anticipation note; Wells Fargo offered lowest bid
Summary
The commission approved issuance of up to $275 million in tax anticipation notes maturing Dec. 30, 2025; county finance staff reported four bids and recommended Wells Fargo at a low bid of 3.017819%
Fulton County commissioners on May 7 authorized issuance and sale of up to $275 million in general-fund tax anticipation notes maturing Dec. 30, 2025, and accepted the lowest responsible bid from Wells Fargo at an interest rate of 3.017819 percent.
Why it matters: Tax anticipation notes (TANs) are short-term borrowing instruments counties use to manage intra-year cash flow, typically repaid from tax collections. The board’s action authorizes the county to proceed with issuance under the pricing resolution the finance office presented.
What was presented: County finance staff said they received four bids. The low bid, Wells Fargo at 3.017819%, was described as the award recommendation. Commissioners discussed the matter briefly; Commissioner Marvin Arrington moved approval and Commissioner Dana Barrett seconded. The motion passed 6–0.
Financial details recorded in the meeting packet include the aggregate principal amount ($275,000,000) and the maturity date (12/30/2025). Commissioners asked no substantive follow-up questions during the presentation.
What to watch: Closing and final sale documentation, and any related disclosure required by state law.
