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Wayne County adopts resolution authorizing up to $2.5 million tax anticipation note
Summary
The Wayne County Commissioners unanimously adopted Resolution No. 15-01-2026 authorizing a Tax Anticipation Note up to $2.5 million from The Dime Bank at 2.97% interest and approved related documents, including certification of anticipated revenues and a commitment letter.
The Wayne County Commissioners unanimously adopted Resolution No. 15-01-2026 authorizing the county to receive a Tax Anticipation Note (TAN) of up to $2.5 million from The Dime Bank at an interest rate of 2.97 percent.
Commissioner Brian W. Smith moved to adopt the resolution; Commissioner James Shook seconded the motion and it carried unanimously. The resolution includes approval of related documents, a certification of anticipated revenues and taxes, and a commitment letter with the bank. The motion as recorded stated the authorization amount, interest rate, and that associated documentation be approved.
The board took no public testimony on the measure during the meeting. The resolution is intended to provide short-term cash flow ahead of anticipated revenues; the transcript notes the board approved the related paperwork but does not specify a draw amount or timetable for issuance.
