Tax Anticipation Notes

Also found in: Dictionary.

Tax Anticipation Notes (Tans)

Notes issued by states or municipalities to finance current operations in anticipation of future tax receipts.

Tax Anticipation Note

A municipal bond, usually with a maturity of less than one year, issued on the assumption that the debt will be paid back on future tax revenue. Municipalities issue tax anticipation notes to provide cash for immediate or time sensitive needs. For example, a city may issue a bond to pay for school construction rather than wait for tax revenues to pay for it because either the school is desperately needed or construction can only occur in certain times of the year when the city is cash poor. At maturity, tax anticipation notes are paid with tax revenues in the months following the issue.
References in periodicals archive ?
Preparation and issuance of Bond Anticipations, Special Emergency and Tax Anticipation Notes.
He was instrumental in structuring and providing Approving Legal Opinions for several hundred million dollars of General Obligation Bonds, Tax Anticipation Notes and Revenue Bonds.
This growth in value can be borrowed against to provide upfront funding for the regeneration scheme and to pay for infrastructure costs by "pay as you go", bond finance or Tax Anticipation Notes.
The districts have at least two options for doing that: drawing from existing reserves; or taking out what are known as tax anticipation notes, or TANs, which are short-term loans in expectation of receiving the tax revenue.
Tax anticipation notes hold first claim on tax receipts when collected.
Selectmen signed another $250,000 in tax anticipation notes Wednesday because taxpayers are not sending in voluntary tax payments as officials requested.
410,000,000 tax anticipation notes (TANs) for 2013 taxes, comprised of $300 million series I, and $110 million series II.
Issuances may include, but are not limited to, new and refunding (i) Certificates of Participation (COPs), (ii) Obligation Bonds (GOBs), and Sales Tax Revenue Bonds, Revenue Anticipation Bonds (RANs), Tax Anticipation Notes (TANs), Bond Anticipation Bonds (BANs); any other lease purchase or any other financing vehicle determined to be in SBBC s best interest.
There are many types of municipal notes, including Tax Anticipation Notes (TANs), Bond Anticipation Notes (BANs) or Revenue Anticipation or Tax and Revenue Anticipation Notes (RANs and TRANs).
Petersen signed tax anticipation notes totaling $1,150,000.
4 million in tax anticipation notes (TANs) during fiscal 2011 - the amount of unpaid NJMC related property tax revenues.
29 /PRNewswire/ -- The Commonwealth of Pennsylvania's $225 million tax anticipation notes, series 1997-1998, for bids on Nov.