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Ossipee Selectmen authorize $3.5 million TAN facility for emergency cash needs
Summary
Selectmen authorized town staff to set up a Tax Anticipation Note (TAN) facility of up to $3.5 million as a worst‑case contingency for 2026; staff said the rate is expected around 6.25% and the note would not be tax‑exempt because the town does not anticipate a cash‑flow shortfall.
Ossipee Town Selectmen voted to authorize town management to initiate a Tax Anticipation Note (TAN) facility of up to $3.5 million to be available for 2026 as a contingency financing mechanism.
The measure authorizes town staff to begin the closing documentation and allow the treasurer to finalize the loan documents if the bank…
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