Authorize borrowing up to $30 million through tax anticipation notes
In Plain English
The city collects most property taxes in December and April but pays expenses year-round. These short-term loans bridge the gap between when the city spends money and when tax revenue arrives. If approved, the city borrows against expected tax collections to maintain cash flow.
Auto-generated summary. Source: official agenda documents.
Votes
Authorize the $30 million Tax and Revenue Anticipation Note
5 to 0
Authorize only $15 million
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