Tax Anticipation Note (TAN)

Newton County Schools is soliciting sealed bids from qualified financial institutions for the purchase of a Tax Anticipation Note (TAN) to provide temporary funding for the school district's cash flow. The TAN will have a principal amount of up to $30,000,000.00, dated August 18, 2026, and maturing on December 31, 2026. The note will bear interest at a fixed rate calculated based on the actual number of days elapsed. The school district can prepay in whole or in part at any time, without penalty. • The TAN will be secured by the school district's tax revenues and other legally available funds. • The school district may draw increments of $1,000,000.00 up to the amount described above. • The note will be accompanied by appropriate school district resolutions. • Interest on the note will be paid at maturity.