Tax and Revenue Anticipation Notes (TRAN)s Interest Survey

In the wake of COVID-19, the CSDA Finance Corporation is pursuing the ability to provide assistance and some short-term financial relief to special districts that are expecting or experiencing revenue losses. The financing tool to be used is through the development of a pooled Tax and Revenue Anticipation Note (TRANs) program.

A few highlights about the proposed program:

• TRANS are a proven short-term financing instrument used by numerous public agencies to bridge gaps between when expenses occur and when revenues are available.
• TRANs are issued in anticipation of tax receipts or other sources of future unrestricted revenues
• Proceeds of a TRAN can be used for any lawful purpose of a special district, including current expenses, capital expenditures, and the repayment of outstanding indebtedness.
• TRANs may be a viable financial tool to special districts that rely heavily on property tax revenues and/or benefit assessments.
• Expected timing would be around the start of the July 1, 2020 fiscal year, with repayment within a year.
• By pooling the TRANs with multiple districts, the CSDA Finance Corporation and our consultants could structure the program to be cost effective, quick, and simple for special districts to access.

Click the link below to complete a brief survey if your district may be interested in participating in the TRANs program and someone from the CSDA Finance Corporation will follow-up with you.

Responses are due by April 30, 2020.

TAKE SURVEY! 

Response to this survey is not a commitment to use the program.  Feedback received will be used to assist in the decision-making and program development process.

If your district has any other current or future financing needs, please contact the CSDA Finance Corporation for a proposal or additional information at rickw@csda.net or 916.442.7887.