County business
Resolution - Revenue Anticipation 2025
Where it stands
ApprovedResolution - Revenue Anticipation 2025$5,000,000.00
Motion to approve the revenue anticipation resolution to allow the County to borrow money from First-Citizens Bank & Trust Company in an amount not to exceed $5,000,000 with interest at a… Show allMotion to approve the revenue anticipation resolution to allow the County to borrow money from First-Citizens Bank & Trust Company in an amount not to exceed $5,000,000 with interest at a rate not to exceed 4.09% as presented to the Board. The Board did a roll call vote and Supervisor Long wanted to abstain because he arrived to the meeting late. He asked for a short summary of the resolution. Mr. Tadlock explained the purpose of the resolution presented to the Board.
In plain words
The Northumberland County Board of Supervisors took up a revenue anticipation resolution to borrow money while waiting on tax collections.1 On May 14, 2025, the Board approved the revenue anticipation resolution for 2025 by a 5-0 vote.2 That resolution says the principal will not exceed the anticipated revenues for fiscal year 2025, and the note will be paid off no later than December 31, 2025.1 On July 29, 2025, the Board voted 5-0 to borrow from First-Citizens Bank & Trust Company an amount not to exceed $5,000,000.3 That motion set interest at a rate not to exceed 4.09%.3 County Administrator Tadlock said the money would get the County from August to October, when tax revenues start coming back in.4
Summarized from the county’s records, October 13.
Where each sentence comes from
- “the Board of Supervisors of Northumberland County” … “in anticipation of the collection of tax revenues” … “the principal amount of the notes will not exceed the anticipated revenues for fiscal year 2025” … “this note will be paid off no later than December 31, 2025”Resolution - Revenue Anticipation 2025 · full text
- “Motion to approve the revenue anticipation resolution for 2025 as presented to the Board. Vote 5-0”May 14, 2025 · Board of Supervisors · Motion carried, 5-0
- “borrow money from First-Citizens Bank & Trust Company in an amount not to exceed $5,000,000” … “Vote 5-0” … “with interest at a rate not to exceed 4.09%”Jul 29, 2025 · Board of Supervisors · Motion carried, 5-0
- “Mr. Tadlock stated this would get the County from August to October once the tax revenues start coming back into the County”Resolution - Revenue Anticipation 2025 · full text
Written automatically from the county’s records. Each sentence has to quote the record it comes from, word for word, or it’s left out. The records have the final say.
Before that
- Wed14May
Board of Supervisors · a vote
ApprovedResolution - Revenue Anticipation 2025
Motion to approve the revenue anticipation resolution for 2025 as presented to the Board.
Meeting by meeting, newest first, in the records’ own words. Each vote names the minutes it’s written in.
The records
Gathered from Northumberland County’s agendas, minutes and notices. Checked October 26.