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Show FARMINGTON It took an early morning emergency session of the Davus County Board of Education to allow for official use of $6.5 million in tax anticipation notes. THE BOARD had already accepted the notes in a bid by three area banks in their regular regu-lar meeting July 19 but a further furth-er resolution was required by banking officials for the notes to take immediate effect. That brought the board together for a 7 a.m. meeting Friday at dis trict headquarters in Farm- v ington. Board Chairman Lucue Reading said the special meeting meet-ing had to be held for the bids to take effect Aug. 1 for interest in-terest reasons. THE NOTES are used to pay district bills in anticipation of tax monies received later in the year, beginning in December. The practice is common with both the school district and Davis County. The notes will mature June 1, 1981 and can't be repaid until un-til that time but Roger Glines, board clerk, said such an arrangement is preferred because be-cause it means the money can be invested after tax dollars have been received. A CONSORTIUM of Zions First National Bank, First and Second National Banks of Layton and Clearfield State Bank submitted the only bid with a 6.24 percent interest rate, tb |