Wednesday night, the Penns Manor School Board gave the district administration permission to seek a proposal for a tax anticipation note from First Commonwealth Bank.
The note would supply them with 85% of their anticipated state subsidy, which would have to be repaid to the bank after state money starts to come in. Superintendent Daren Johnston said that they will have to be extremely careful with the district’s finances moving forward.
A vote on the tax anticipation note could come as early as November 5th, before the district’s next committee meeting.
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