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Ben Hill County to seek bids for $4 million Tax Anticipation Note
Summary
County Manager Michael Dinnerman asked commissioners to authorize him and the chairman to solicit bids and negotiate the interest rate for a $4,000,000 tax anticipation note to address near-term cash-flow needs. No formal vote was recorded in the workshop minutes.
County Manager Michael Dinnerman told Ben Hill County commissioners at a January 24, 2019 workshop that he needs authorization for himself and the chairman to obtain bids and negotiate terms for a $4,000,000 Tax Anticipation Note to cover short-term financing needs.
The request, presented during a routine workshop at the Ben Hill County Courthouse Annex, did not include a recorded motion or vote in the meeting minutes. Dinnerman described the action as seeking authority to move forward with soliciting bids and negotiating an interest rate on the note.
If approved at a later meeting, a tax anticipation note would be a short-term borrowing tool counties commonly use to manage cash flow before tax receipts are collected. The minutes do not specify a proposed repayment schedule, lender preferences, or a timeline for returning to the board with bid results.
Chairman Steve Taylor and the other commissioners were present for the request. The minutes do not record a decision or formal authorization at the workshop; any formal approval would appear in the minutes of a subsequent meeting.
