Fulton considers a $120 million loan

On Wednesday the Fulton County Commission will consider taking out a $120 million loan to bridge a cash flow gap until property taxes are collected, which could be as late as mid-November. The county would again issue tax anticipation notes, due to be paid back Dec. 31, with an as-yet undetermined interest rate. Bids will be received Wednesday morning.

Last year, the county received its lowest interest rate ever, 0.277143 percent, through Wells Fargo on a $120 million loan. The county is expecting to receive about $385 million in property taxes this year.