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Committee recommends one‑month extension to town’s 2025 tax anticipation note
Summary
A Bucksport council committee recommended approval of Resolve 2026-152 to extend the maturity date of the 2025 tax anticipation note from July 1 to July 31, giving staff additional time to issue next year’s TAN before paying off the current note.
A council committee in Bucksport on Wednesday recommended approval of Resolve 2026-152, a temporary amendment to the town's 2025 tax anticipation borrowing that delays the current note's maturity by one month.
A staff member described the measure as “essentially a housekeeping item that extends the maturity date on our current TAN by a month to allow us that month's time to get next year's TAN in place, settled and closed prior to paying off this current year TAN.” The amendment would move the maturity date from July 1 to July 31.
Committee members asked for clarification about timing and the connection to next year’s budget; staff said the extra month provides time to finalize the next TAN so the town does not have to pay off the current note before replacement financing is in place. A council member moved to recommend approval; a second was recorded and the motion carried.
The committee's recommendation will go to the full council for final action.
