Newton County Schools Ionwave #C-946-02

Newton County Schools Seeks $30 Million Tax Anticipation Note (TAN) Financing

Newton County Schools in Covington, Georgia is seeking bids for short-term cash flow financing through a Tax Anticipation Note (TAN): - Buyer: Newton County Schools (K-12 public school district) - Solicitation for a TAN with a principal amount up to $30,000,000 - Purpose: Provide temporary funding pending receipt of ad valorem tax and other revenues - Note will be dated and mature within the same calendar year - Interest paid at maturity; fixed annual interest rate must include all fees and expenses - Secured by school district tax revenues and other legally available funds - Prepayment allowed at any time without penalty - Award to lowest responsive and responsible bidder offering lowest total interest cost - No specific OEMs or product manufacturers are involved, as this is a financial services procurement

Description

Newton County Schools is soliciting sealed bids from qualified financial institutions for the purchase of a Tax Anticipation Note (TAN) up to $30,000,000. The TAN will provide temporary funding for the school district's cash flow pending receipt of ad valorem tax revenues and other owed revenues. The note will be dated August 18, 2026, maturing on December 31, 2026, with interest paid at maturity and secured by the school district's tax revenues and other legally available funds. Bidders must submit a fixed annual interest rate covering all fees and expenses, and the award will be made to the lowest responsive and responsible bidder with the lowest total interest cost.

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