Civic IQ
FINANCIAL_SERVICESAMENDED

The Franklin Special School District Promissory Note April 2026

District renews $6 million tax anticipation credit line

$6,000,000.00 (revolving line of credit, or such lesser amount as may be advanced)Franklin 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 has executed an amended and restated General Purpose Fund Tax Anticipation Revolving Promissory Note with First Horizon TE1, LLC for a revolving line of credit up to $6,000,000.00. The variable-rate note, tied to Term SOFR plus a 1.115% margin, runs from April 13, 2026 through June 30, 2027 as short-term financing in anticipation of tax and revenue collections.

Contract Details

Contract Amount

$6,000,000.00 (revolving line of credit, or such lesser amount as may be advanced)

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)

Renewal Date

2027-06-30

Renewal Info

This Note amends, restates, and supersedes the prior $6,000,000.00 Amended and Restated General Purpose Fund Tax Anticipation Revolving Promissory Note dated March 1, 2024, under a Tax Anticipation Revolving Loan Agreement dated September 23, 2004 as amended through an Eighteenth Amendment. The Note may be extended in whole or in part without limit as to number or periods of extensions, without notice to endorsers or guarantors, subject to Bank’s discretion and applicable law.

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