Cedartown City Commission approves TAN loan

Cedartown City Commission
Cedartown City Commission

Cedartown City Commissioners met briefly Thursday afternoon to vote on taking a bid for a tax anticipation note. City Manager Charles Akridge said the loan for $1 million will cover costs throughout the year due to the budget crunch. Commissioner Dale Tuck moved that the low bid from First National Bank of Polk County at a rate of 4.25%. The vote to accept was unanimous with the absence of Commissioner Johnny Barrett and City Attorney Michael McRae. The commission also decided not to peruse changes in their auditing program.