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Whitfield County approves up to $6 million tax anticipation note, awards bid to PNC Bank
Summary
At a Sept. 29 special meeting the Whitfield County Board of Commissioners authorized a Tax Anticipation Note (Series 2025) with a maximum principal of $6,000,000 and awarded the financing to PNC Bank; the measure passed 3-0 with two commissioners absent.
The Whitfield County Board of Commissioners on Sept. 29 authorized the issuance of a Tax Anticipation Note (TAN), Series 2025, in a maximum principal amount of $6,000,000 and awarded the financing to PNC Bank.
Commissioner Greg Jones moved to approve the TAN resolution; Commissioner John Thomas seconded. The motion carried 3-0, with Chairman Jevin Jensen and Commissioners Thomas and Jones voting in favor and Commissioners Barry W. Robbins and Robby Staten recorded as absent.
The resolution, as described in the meeting minutes, authorizes the county to issue a general obligation Tax Anticipation Note to provide interim financing. The minutes state the bid was awarded to PNC Bank but do not include the interest rate, final principal drawn, closing date or repayment schedule; those details were not specified.
County officials did not record public comment during the meeting minutes on the item. The board followed normal meeting procedure: a motion, a second and a recorded vote. The minutes list Robert Smalley as county attorney and Robert Sivick as county administrator present for the meeting; the minutes do not record further discussion or questions about the TAN terms.
The board adjourned after taking the vote. The minutes are signed by Chairman Jevin Jensen and county clerk Blanca Cardona.
