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Belknap County seeks to borrow short-term

Friday, March 5, 2010

LACONIA — The Belknap County Commissioners authorized the county treasurer to ask the county delegation to allow them to borrow up to $14 million in tax anticipation notes (TANs).

Should the delegation approve the request at its March 15 meeting, the notes will be split in two with the first draw to be $7.8 million. The balance will be drawn in the fall.

The county relies on TANs to operate because its revenue comes from the 11 member communities in lump sums after they collect payment on local tax bills.




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