Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Selectmen approve $1 million tax anticipation note after rescinding prior vote
Summary
On July 21, 2025, the Sugar Hill Selectmen unanimously approved borrowing a $1,000,000 tax anticipation note that will close July 21, 2026, and rescinded a July 14 vote after the note’s term changed. The board signed the new TAN with the Town Treasurer and Town Clerk.
The Sugar Hill Selectmen unanimously approved borrowing a $1,000,000 tax anticipation note that will close July 21, 2026, and signed the new note with the Town Treasurer and Town Clerk on July 21, 2025.
Rusty Talbot, Selectman, moved to rescind the vote taken on July 14, 2025 after the term of the TAN changed; Dick Bielefield seconded and the motion passed unanimously. Talbot then moved to approve the new one‑million‑dollar TAN, with Chris Ellms seconding; that motion also passed unanimously.
The board’s minutes state the new TAN will close on July 21, 2026 and that the document was executed by the selectmen, the Town Treasurer and the Town Clerk at the July 21 meeting. The minutes do not specify the lending institution or additional terms beyond the closing date.
The vote restores the town’s short‑term borrowing authority for operating cash flow in advance of anticipated tax receipts; the board took no additional fiscal actions during the meeting.
