Fayette County commissioners unanimously approve $9 million short-term note to cover 2026 cash flow
January 09, 2026 | Fayette County, Pennsylvania
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The Fayette County Board of Commissioners voted unanimously on Jan. 9 to authorize a $9,000,000 Tax and Revenue Anticipation Note (Series 2026) and awarded the note to United Bank to help meet the county’s cash-flow needs during the 2026 fiscal year. Commissioner Henry Dutch Kaufman moved to adopt the resolution, and Commissioner Vince Vicites seconded the motion; Commissioners Scott Dunn, Kaufman and Vicites each voted "yes."
The resolution, presented at a special meeting at the Fayette County Courthouse in Uniontown, was corrected during the meeting to reflect that competitive proposals had been received on Dec. 31, 2025 (the draft motion initially misstated the year as 2026). Chris Brewer of the law firm Dinsmore spoke about the financing, saying that "the rate is better than last year, and it is more flexible." The record shows no public comments on the agenda items.
Under the terms included in the resolution text, the note is designated the "Tax and Revenue Anticipation Note, Series 2026," bears interest on a 30/360 day basis with interest payable monthly, and requires payment of principal and interest not later than Dec. 31, 2026. The resolution authorizes the members of the Board of Commissioners and designated officers, including the finance director, to execute and deliver the note and related closing documents, to receive proceeds, and to file the required transmittal and Certificate as to Collections and Expenditures with the Pennsylvania Department of Community and Economic Development. The resolution also permits the county to redeem the note prior to maturity in accordance with the proposal and to perfect a security interest in county taxes and revenues as provided by the Local Government Unit Debt Act; the last permitted advance under the note must occur not later than May 1, 2026.
The motion to award the note to United Bank was made by Commissioner Kaufman and seconded by Commissioner Vicites; the minutes record the vote as unanimous. The meeting adjourned at 1:11 p.m. after a separate motion to adjourn, which also passed unanimously.
The resolution text included in the meeting record cites the Local Government Unit Debt Act (Act of Dec. 19, 1996, P.L. 1158, No. 177) and specifies that the note will be issued and secured in accordance with that statute. The county’s acting chief clerk attested to the minutes at the close of the meeting.
The resolution, presented at a special meeting at the Fayette County Courthouse in Uniontown, was corrected during the meeting to reflect that competitive proposals had been received on Dec. 31, 2025 (the draft motion initially misstated the year as 2026). Chris Brewer of the law firm Dinsmore spoke about the financing, saying that "the rate is better than last year, and it is more flexible." The record shows no public comments on the agenda items.
Under the terms included in the resolution text, the note is designated the "Tax and Revenue Anticipation Note, Series 2026," bears interest on a 30/360 day basis with interest payable monthly, and requires payment of principal and interest not later than Dec. 31, 2026. The resolution authorizes the members of the Board of Commissioners and designated officers, including the finance director, to execute and deliver the note and related closing documents, to receive proceeds, and to file the required transmittal and Certificate as to Collections and Expenditures with the Pennsylvania Department of Community and Economic Development. The resolution also permits the county to redeem the note prior to maturity in accordance with the proposal and to perfect a security interest in county taxes and revenues as provided by the Local Government Unit Debt Act; the last permitted advance under the note must occur not later than May 1, 2026.
The motion to award the note to United Bank was made by Commissioner Kaufman and seconded by Commissioner Vicites; the minutes record the vote as unanimous. The meeting adjourned at 1:11 p.m. after a separate motion to adjourn, which also passed unanimously.
The resolution text included in the meeting record cites the Local Government Unit Debt Act (Act of Dec. 19, 1996, P.L. 1158, No. 177) and specifies that the note will be issued and secured in accordance with that statute. The county’s acting chief clerk attested to the minutes at the close of the meeting.
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