Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Srf Notifications topic
No spam. Unsubscribe anytime.
TLDA notified of Winchester’s $3 million subordinate debt issuance; no action required
Summary
The Tennessee Local Development Authority received a nonvoting notification from the City of Winchester that it will issue $3 million in subordinate debt while SRF loans remain outstanding.
The Tennessee Local Development Authority on April 10 received a nonvoting notification from the City of Winchester that the city intends to issue $3 million in debt subordinate to its outstanding SRF loans.
Miss Thompson described the item as a notification to comply with TLDA SRF policy for borrowers that have outstanding SRF loans. “This is really just a notification, to the board with regards to an issuance of $3,000,000, by the City of Winchester and they are required to notify us in the event of an occurrence of debt because they do have SRF loans outstanding,” she said. Thompson added Winchester’s issuance will be subordinate to its SRF loans and will not be on parity.
Because the submission was informational and not an authorization request, the board took no vote; the chair considered the board duly notified and the meeting proceeded to other business.
