Public Hearing: YES ☐ NO ☒ Department: Finance
SUBJECT:
Title
Commission District(s): All Commission Districts
A resolution authorizing the issuance and sale of Tax Anticipation Notes (TAN 2025B) for 2025, due September 1, 2025 in the aggregate principal amount of $98,700,000 to xxx Bank, for the purpose of obtaining a temporary loan to pay current capital expenses during the 2025 calendar year.
Body
Information Contact: Dianne McNabb, CFO, and Bob Atkins, Deputy Director of Finance/Treasurer
Phone Number: 404-371-2174 and 678-910-5638
PURPOSE:
A resolution authorizing the issuance and sale of Tax Anticipation Notes (TAN - 2025B) for 2025, due September 1, 2025 in the aggregate principal amount of $98,700,000 to xxx Bank, for the purpose of obtaining a temporary loan to pay current capital expenses during the 2025 calendar year.
NEED/IMPACT:
To fund a portion of current capital expenses of the Department of Watershed Management until the issuance of the water and sewerage bonds in late summer - prior to September 1, 2025.
FISCAL IMPACT:
All-in Total Interest Cost (NIC) estimate of x.xx%, which includes an estimated Cost of Issuance of $xx,xxx.
RECOMMENDATION:
Recommended Action
Adopt the attached TAN 2025B resolution and authorize the Chief Executive Officer and the Chief Financial Officer to execute all necessary documents in connection with this matter.