Authorize borrowing money through short-term notes until tax revenue arrives
In Plain English
Cities collect most tax revenue in spring but need cash year-round for operations. These notes let the city borrow against expected tax income to cover expenses like payroll and utilities. The city appoints Tamalpais Advisors to help manage this routine borrowing process.
Auto-generated summary. Source: official agenda documents.
Votes
Adopt Resolution No. 94-13 authorizing issuance and sale of Tax and Revenue Anticipation Notes and appointing Tamalpais Advisors Inc. as Financial Advisor
6 to 0
Why This Vote Matters
The council unanimously approved authorization for the city to issue Tax and Revenue Anticipation Notes, a routine borrowing tool that helps bridge cash flow gaps throughout the year. Since cities receive most of their tax revenue in spring but must pay expenses like employee salaries and utility bills year-round, these notes allow borrowing against expected future tax income. The council also appointed Tamalpais Advisors Inc. as the financial advisor to help manage this standard borrowing process. This is administrative housekeeping that enables normal city operations to continue smoothly.
Auto-generated context. Source: official meeting records.
Similar Discussions
5 related items found by meaning
Authorize borrowing up to $15 million through tax anticipation notes
Authorize short-term borrowing to cover city expenses before tax revenue arrives
Authorize borrowing up to $35 million through short-term notes
Receive report on $2.5 million short-term borrowing from 2014
Authorize borrowing up to $30 million through tax anticipation notes
The Story So Far
Related items from other meetings
Budget Study Session on Proposed Fiscal Year 2026-27 Operating Budget and Fiscal Year 2026-31 Five-Year Capital Improvement Plan
Engineer’s Report for Fiscal Year 2026-27 for the Marina Bay Landscape and Lighting Maintenance District (MBLLMD)
Setting Tax Rate for the Pension Tax Override Fund for Fiscal Year 2026-27
Review draft 2026-27 city budget and 5-year capital improvement plan
Preliminary Engineer’s Report and Intent to Levy Assessments for Hilltop Landscape Maintenance District (HLMD) for Fiscal Year (FY) 2026-27
Submit Applications for Bay Area Air Quality Management District Grant Programs
Contract Amendment No. 2 with SCI Consulting Group to Prepare the Hilltop Assessment Districts Annual Engineer’s Report
Extend electric bikeshare contract through June 2027 for $390,000
Approve $3.3 million in state road funding for street repairs
Set pension tax rate at 0.14% for fiscal year 2026-27