City of BV Borrows Money During Slow Revenue Period

The Buena Vista City Council recently voted is a special called meeting to borrow money to keep the city going while revenue is down. The Council also approved waiving fees to help local nonprofit Heart to Heart.
The Council approved a $120,000 Tax Anticipation Note (TAN) from Peoples Bank.
A TAN is typically a short-term debt instrument (loan) used to bridge the gap between when a government's expenses are due and when their tax revenues actually arrive, or other revenues come in.
This is the second year in a row that the City of Buena Vista has approved a TAN.
Mayor Kevin Brown said the city is not in financial trouble, but is simply trying to cover expenses during the summer months when revenue tends to be at its lowest point for the city govern...