County finance accepting bids on capital outlay note

JACKSBORO, TN. (WLAF)-The Campbell County Finance Department is accepting bids on a $775,000.00 Capital Outlay Note for HVAC Controls & RTU Replacement Projects, IT Servers Replacement Projects and Other Capital Improvements.

INVITATION TO BID

The Campbell County Finance Department is accepting bids on a $775,000.00 Capital Outlay Note for HVAC Controls & RTU Replacement Projects, IT Servers Replacement Projects and Other Capital Improvements.  The Capital Outlay Note is a tax exempt/bank qualified issue.  The Capital Outlay Note issue has been approved by the County Commission and the Director of the Division of Local Government Finance.

The Finance Department would like to borrow the money on May 20, 2026 after receipt of bids on May 15, 2026.  The Capital Outlay Note is to be financed over a one-year (1) period to be paid-off in two (2) equal semi-annual principal payments of $387,500 with the first principal payment plus accrued interest to be made on November 20, 2026 and the final principal payment plus accrued interest to be made on May 20, 2027 fully retiring the Capital Outlay Note.  The rate of interest for the Note shall be computed on the basis of a three hundred sixty (360) day year composed of twelve (12) months of thirty (30) days each.

Pleas bid a fixed interest rate for the one-year (1) Note period, inclusive of any and all fees.

Sealed bids are due no later than 10:00 a.m. on May 15, 2026 at which time they will be opened and read aloud.                              

If you are interested, please submit your bid to the Director of Finance, P.O. Box 843, Jacksboro, TN  37757, before the aforementioned bid opening date and time.  Please submit your bid in a sealed envelope and label the outside of the envelope as “Capital Outlay Note Bid”.  Your cooperation in this matter is greatly appreciated.  PDF file copies of the county’s audited financial statements are available online at https://comptroller.tn.gov/office-functions/la/reports/audit-reports.html.  For more information, please call Eric Pearson, Director of Finance at (423) 562-6201.