2018-19 TAN Program

SCAGO's Tax Anticipation Note ("TAN") program is a cash management tool that maximizes investments by utilizing a pool structure that provides opportunities that allow instant liquidity when only short term borrowing is required. TANs increase the ability to borrow at a lower rate and invest at a higher rate due to the size and legal structure.

 

How can a TAN help your District?

 

  • TAN provides a ready source of monies that can be drawn (48 hours or less notice required) to meet your cash flow needs
  • The pool structure spreads the cost of issuance on a pro rata basis to all participants
  • No cross default - all participants stand on their own
  • Participants earn a spread on any deposited funds not drawn upon
  • The highest return possible is obtained on investments while funds are not being drawn upon and competitive bidding provides the best borrowing rate possible
  • Eliminates the need for a district to prepare an official statement to issue a TAN

 

 

In 2018-19, SCAGO issued $48,765,000 in TANs on behalf of fourteen (14) South Carolina School Districts.   

For participants in the 2018-19 SCAGO TAN Program, please download the forms below to request Disbursement of Funds or Redeposit of Funds.