Board of Mayor and Aldermen Minutes 2026-04-13
Town Approves $625K Capital Outlay Notes via TMBF
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Description
The Board approved Resolution 2026-10 to issue up to $625,783 in Equipment Acquisition Capital Outlay Notes, with the Tennessee Municipal Bond Fund arranging financing at 4.36%. The borrowing will fund nine police vehicles and one fire vehicle, with annual debt service offset by retiring obligations.
Contract Details
Contract Amount
Not to exceed $625,783 (Equipment Acquisition Capital Outlay Notes, Series 2026)
Vendor
TENNESSEE MUNICIPAL BOND FUND
Agency
Town of Jonesborough, TN
Contract Type
FINANCIAL_SERVICES
Document Date
April 13, 2026
Contract Term
Debt service with average annual payment of approximately $142,000; specific final maturity date not stated
Renewal Info
Debt financing arrangement; no renewals, but standard amortization over the note’s life. Average annual debt service is projected at $142,000.
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