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County treasurer briefed commissioners on $9.75M tax‑anticipation line of credit ahead of closing
Summary
County staff reviewed tax‑anticipation note paperwork for a $9,750,000 line of credit (variable SOFR +125 bps) with a planned closing Sept. 24; bond counsel and notice requirements were completed and staff will sign required certificates at the meeting to enable timely drawdowns.
County staff told commissioners Sept. 18 that the county had secured a $9,750,000 tax‑anticipation line of credit and planned to finalize paperwork at a closing scheduled for Sept. 24. Staff described the facility as a line of credit that will be drawn as needed and noted the variable interest rate is SOFR plus 125 basis points.
The presentation…
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