Tax Anticipation Loan for Lake Region Union High School
Lake Region Union High School
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Description
Union Bank has submitted a bid to Lake Region Union High School for a tax anticipation loan (TAN) in the amount of $2,097,364.00 for the fiscal year 2027. The loan is offered in two options: Option #1 is a Tax Anticipation Loan with a Reinvestment Option, featuring a fixed interest rate of 3.45% and an Insured Cash Sweep (ICS) Account earning 3.90% APY on funds not needed for current expenses. Option #2 is a Non-Revolving Line of Credit with a fixed interest rate of 4.99%. Both options have a term of 12 months, with principal and interest due at maturity, no prepayment penalty, and tax-exempt interest income that is bank qualified. The bid includes a detailed cash flow analysis comparing the two options, indicating that Option #1 would yield net interest income of approximately $29,621, while Option #2 would result in interest expense of approximately $18,904. The bid also outlines required loan documents and conditions for acceptance.
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Documents
| Title | Date Posted |
|---|---|
| UB Lake Region HS TAN Bid Package FY27 | Jun 15, 2026 12:00 AM |
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