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Commissioners approve up to $20 million tax‑anticipation note sale; Standard & Poor's rating review set for Aug. 11

5724683 · July 28, 2025

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Summary

The board authorized borrowing authority for a second tax‑anticipation note (TAN) of up to $20 million for the fiscal year; staff said they expect closer to $15 million and will finalize the figure before the sale after a rating meeting with Standard & Poor's on Aug. 11.

Merrimack County commissioners approved moving forward with a second tax‑anticipation note (TAN) for the fiscal year, authorizing borrowing of up to $20 million while staff said they expect to borrow closer to $15 million. County finance staff said the delegation previously authorized borrowing up to $25 million earlier this year and that the county borrowed $25 million in March. Finance staff said paperwork is under way, Standard & Poor's will provide a rating review on Aug. 11, and the planned sale date for the TAN is Sept. 22. Staff indicated that they will determine the final borrowing amount in the week following the rating submission. The board approved the request by voice vote; the transcript records an affirmative voice vote without a roll‑call tally in the excerpt provided.