JEFFERSON City Schools will seek a line of credit, not to exceed $1 million, to cover expenses until tax collections roll in later this year. The board of education authorized a Tax Anticipatory Note (TAN) Thursday and will seek “the most competitive lender.” Proposals will be sought from local banking institutions. The system expects a cash shortfall of 30 to 45 days. Jefferson plans to pay back the debt by mid-December. The system’s fund equity is down to $395,739, which prompted the move. Jefferson also saw a reduction in state funding this year of nearly $1.9 million.
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