Harpswell Board of Selectmen Meeting Minutes April 2026
Androscoggin Bank Chosen for $5M TAN Financing
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Description
The Harpswell Select Board approved Androscoggin Bank to provide up to $5 million in Tax Anticipation Note financing for Fiscal Year 2026 at an interest rate of 4.62%. Funds will be drawn as needed before fall 2026 property tax receipts are collected.
Contract Details
Contract Amount
Up to $5,000,000 (Tax Anticipation Note) at 4.62% interest
Vendor
ANDROSCOGGIN BANK
Agency
Town of Harpswell, ME
Contract Type
FINANCIAL_SERVICES
Document Date
April 9, 2026
Contract Term
Fiscal Year 2026; funds drawn as needed prior to fall 2026 property tax receipts
Renewal Date
2026-12-31
Renewal Info
Single-year Tax Anticipation Note financing for FY 2026; no renewal terms described in the minutes.
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