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Beaver Dam school board authorizes up to $5 million line of credit for cash-flow management
Summary
The Beaver Dam Unified School District approved a resolution authorizing a taxable tax- and revenue-anticipation promissory note (line of credit) not to exceed $5 million after administrators described prior borrowing, bank proposals and timing of district cash-flow needs.
The Beaver Dam Unified School District Board of Education voted to authorize a taxable tax- and revenue-anticipation promissory note (a line of credit) in an amount not to exceed $5,000,000 to provide cash-flow flexibility during the district’s low-cash months, administration told the board.
An administrator (S11) said the district typically faces its lowest cash balances between Thanksgiving and December and described…
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