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Commission approves up to $16 million tax anticipation note from Machias Savings Bank
Penobscot County Commission · February 5, 2026
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Summary
Penobscot County approved a tax anticipation note offer from Machias Savings Bank — up to $16 million, interest at 5.301% on drawdowns, a $10,000 fee, available through Dec. 31, 2026 — and authorized the county to take drawdowns as needed; commissioners approved the proposal unanimously.
The Penobscot County Commission approved a tax anticipation note (TAN) offer from Machias Savings Bank providing a maximum principal of $16,000,000 with interest at 5.301% calculated on amounts withdrawn and a $10,000 fee. The facility is available for drawdown through Dec. 31, 2026;…
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