OCR Text |
Show Accept Tax Notes m FARMINGTON In anticipation anti-cipation of end-of-the-budget-year shortfalls, the Davis County Commission last week accepted bids for $5,000,000 in tax anticipation notes. OF ONLY two bids received, re-ceived, the Davis County Bank submitted the lowest interest in-terest rate on the notes, at 10.8 percent. Zion's National Bank bid 11.25 percent. Money from tax anticipation notes is used to cowr county-wide county-wide operations until the end of the year when tax money is' collected and disbursed. THE COMMISSION accepted the Davis County Bank bid Tuesday afternoon and authorized officials to sign a contract with the bank for $5,000,000. The money will be repaid at 10.8 percent, mdm |