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TSSBA staff report intent to expand revolving credit facility capacity to $300 million ahead of planned bond sale
Summary
Authority staff reported they intend to exercise the accordion feature on the revolving credit facility to expand capacity from $200 million to $300 million in anticipation of an upcoming bond sale; the item was informational and required no board vote.
Kayla reported to the Tennessee State School Bond Authority on May 20 that the authority's existing revolving credit facility has a $200 million capacity and an "accordion" feature allowing expansion up to $300 million.
Kayla said staff plan to use that accordion feature to expand capacity to $300 million to accommodate project needs in advance of a planned bond sale; she said the authority will see related documents at the next meeting when staff return with formal sale paperwork. The item was informational and required no board action.
Board members had no questions and the meeting moved on to final agenda items and adjournment.
