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 note will be in the principal amount of up to $30,000,000, 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. Key aspects of the bid include: • The TAN will be secured by the school district's tax revenues and other legally available funds. • The note will be issued to provide short-term cash flow financing for the school district. • Interest on the note will be paid at maturity. • The school district may draw increments of $1,000,000 up to the amount described above. • The TAN documents will be provided by Newton County Schools and will serve as the official documents for this borrowing.