Marathon Central School District Moves Forward with Bond Anticipation Notes and Tax Anticipation Notes
Listed under Items for Review on the meeting agenda is the District's Bond & TAN Information — details surrounding a planned issuance of $11,065,000 in Bond Anticipation Notes (BANs), 2026, and a Tax Anticipation Note (TAN) in an amount yet to be determined, both issued under the authority of Marathon Central School District, serving Cortland, Broome, and Tioga Counties, New York.
Sarena Eaton · 2026-06-01
The Marathon Central School District is preparing to move forward with two significant financing actions that will be presented at the upcoming Board of Education meeting on Wednesday, June 3, 2026, at 7:00 PM in the High School Library.
Listed under Items for Review on the meeting agenda is the District's Bond & TAN Information — details surrounding a planned issuance of $11,065,000 in Bond Anticipation Notes (BANs), 2026, and a Tax Anticipation Note (TAN) in an amount yet to be determined, both issued under the authority of Marathon Central School District, serving Cortland, Broome, and Tioga Counties, New York.
What Are Bond Anticipation Notes and Tax Anticipation Notes?
Bond Anticipation Notes (BANs) are short-term borrowing instruments commonly used by school districts to fund capital projects in advance of issuing long-term bonds. They allow a district to access necessary funds quickly while finalizing longer-term financing arrangements.
Tax Anticipation Notes (TANs) are short-term notes issued to help bridge the gap between when a school district needs to meet its financial obligations and when it actually receives tax revenues. They are a routine cash-flow management tool used by school districts across New York State.
The Financing Timeline
According to the Preliminary Financing Schedule included in the agenda, the working timeline for both instruments is as follows:
June 3, 2026 — Board of Education meeting (information presented)
June 12, 2026 — Draft Preliminary Official Statement and supporting documents distributed to the working group
June 24, 2026 — Comments from the working group due; Final Draft Preliminary Official Statement sent for sign-off
June 26, 2026 — Final Approval of the Preliminary Official Statement by a District representative
July 2, 2026 — Electronic distribution of the Preliminary Official Statement and Notice of Sale
July 7, 2026 — Electronic distribution of the Final Official Statement
July 8, 2026 — Sale at 10:30 A.M. at Fiscal Advisors & Marketing, Inc. in Syracuse
July 22, 2026 — Delivery of Bond Anticipation Note Proceeds
July 22, 2026 — Delivery of Tax Anticipation Note Proceeds
Closing documents from Bond Counsel must also be delivered to The Depository Trust Company (DTC) on the closing date, as the issue will be closed through DTC.
No Board Action Required — For Now
It is important to note that the Bond & TAN information is listed on the agenda under Items for Review — No Board Action Required. This means the June 3 meeting serves as an informational presentation to the Board, with the formal sale process unfolding over the weeks that follow according to the schedule above.
Community members who wish to learn more or ask questions are encouraged to attend the June 3 Board of Education meeting, which is open to the public. The meeting begins at 7:00 PM in the High School Library. The agenda reserves 30 minutes for public input, limited to five minutes per person or group.
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