TECUMSEH — The Tecumseh Public Schools Board of Education approved a resolution Monday to seek a $950,000 tax anticipation note. The short-term borrowing will support approximately $940,000 in summer construction and safety projects.
According to a discussion during the June 9 board meeting, the tax anticipation note is a temporary measure to ensure liquidity as the district waits for incoming property tax revenue. The note is expected to be repaid by October 20. School administrators said the proposal aligns with project timelines and prior funding needs addressed through similar borrowing in 2024.
The list of facility upgrades includes security improvements, flooring repairs, driveway seal coating, and work on the high school pool. Officials said all expenditures are eligible for coverage under the district’s Capital Projects Fund. The $10,000 buffer between the note and the project total accounts for cost variability during the bidding process.
The bid packet is being distributed to prequalified financial institutions, with the formal bid opening scheduled for June 17. By law, the district is required to accept the lowest qualified interest rate.
The funds are expected to be disbursed in July and repaid in a single payment this fall. All documentation will be returned to the board for final approval after bids are received.
If bidding goes as expected, the district will finalize the loan documents in early August and begin using funds immediately for facility readiness ahead of the 2025–26 school year. All upgrades are slated for completion before students return in late August.