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Council advances $2.5 million tax-anticipation note on second reading; vote 4–1
Summary
On July 13, Hampton County Council approved second reading of an ordinance authorizing a tax anticipation note not to exceed $2,500,000. The vote was 4–1, with Councilman Marvin Love opposed; the minutes do not specify the intended use of the funds.
Hampton County Council approved second reading on July 13 of an ordinance authorizing a tax anticipation note not to exceed $2,500,000, with a recorded vote of four in favor and one opposed.
Councilman Dennis Thompson Jr. moved to authorize the tax anticipation note; Councilman Jordan Jinks seconded. The minutes record Councilmen Thompson, Williams, Hollingsworth and Jinks voting in favor and Councilman Marvin Love opposed. The meeting record does not include details on what the proceeds would be used for or other financing terms beyond the maximum $2,500,000 authorization.
Because the ordinance was on second reading, additional readings or administrative steps may be required before funds are issued; the minutes do not list a timeline or effective date for borrowing.
