Newton County Schools Ionwave #C-946-02 Addendum 1

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

Newton County Schools in Covington, Georgia, is seeking bids from qualified financial institutions for short-term cash flow financing via a Tax Anticipation Note (TAN). - Government Buyer: - Newton County Schools - Procurement Director: Cory Craver, CPPB - Solicitation Details: - Request for a Tax Anticipation Note (TAN) with a principal amount up to $30,000,000 - Purpose: Provide temporary cash flow funding pending receipt of tax and other revenues - Fixed annual interest rate required; all fees and expenses must be included in the rate - Interest paid at maturity; note matures at year-end - Funds may be drawn in $1,000,000 increments up to the total amount - Note is secured by district tax revenues and other legally available funds - Prepayment allowed at any time without penalty - Award goes to the lowest total interest cost bidder - No specific OEMs or product vendors are named, as this is a financial services procurement - Notable Requirements: - Bidders must be qualified financial institutions - All-in fixed interest rate must be submitted - Short-term maturity (approximately 4.5 months)

Description

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 pending receipt of ad valorem tax revenues and other owed revenues. The TAN will be issued in the principal amount up to $30,000,000, dated August 18, 2026, and maturing on December 31, 2026. Interest on the note will be paid at maturity, with the option for the school district to prepay in whole or in part at any time without penalty. Bids must include 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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