Sullivan County (the “County”) has been authorized to borrow up to $8 million in general obligation tax anticipation notes (“Notes” or “TAN”) during fiscal year 2025 (July 1, 2024 – June 30, 2025). $5,102,075 of the Notes will be tax exempt and designated as bank qualified with $2,897,925 of the Notes to be issued as federally taxable. The Sullivan County Treasurer is seeking commitments to purchase the TAN and invites proposals to fund either or both of the following options for the tax exempt and taxable Notes: 1. Traditional lump sum Notes to be funded at closing; 2. Non-revolving line of credit TAN which will be funded by a series of draws over the term of the Notes. For this option, please include limitations on draw frequency, amount, and/or any fees.
