Civic IQ
FINANCIAL_SERVICESAMENDED

The Franklin Special School District Promissory Note April 2026

District renews $6M tax anticipation credit line

$6,000,000.00Franklin Special School DistrictFIRST HORIZON TE1 LLCApril 13, 2026

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Description

The Franklin Special School District executed an amended and restated $6,000,000 tax anticipation revolving promissory note with First Horizon TE1, LLC, providing a variable-rate line of credit through June 30, 2027. The facility refinances and continues a prior 2024 note to fund cash flow needs in anticipation of tax and revenue collections.

Contract Details

Contract Amount

$6,000,000.00

Vendor

FIRST HORIZON TE1 LLC

Agency

Franklin Special School District, TN

Contract Type

FINANCIAL_SERVICES

Document Date

April 13, 2026

Contract Term

From April 13, 2026 until June 30, 2027 (Maturity Date); revolving line of credit

Renewal Date

2027-06-30

Renewal Info

This Note amends, restates, and supersedes the March 1, 2024 Amended and Restated General Purpose Fund Tax Anticipation Revolving Promissory Note in the same principal amount, and may be extended in whole or in part without limit as to the number or length of extensions at the Bank’s option. Execution is expressly not a novation; future extensions do not require notice to guarantors or endorsers.

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