Learn languages naturally with fresh, real content!

Popular Topics
Explore By Region
Washington County avoids default by prepaying $4.3M in tax notes amid $8M debt crisis.
Washington County faces a severe cash shortfall in 2026, with less than three months of operating funds, prompting towns to prepay $4.3 million in tax anticipation notes (TANs) to avoid default on its $8 million debt.
While 22 towns have committed, seven—including the Passamaquoddy Nation—have not, adding $2.9 million in interest-bearing debt.
Thirteen towns remain undecided.
The county’s financial strain stems from years of mismanagement and delayed audits, compounded by a rejected $11 million borrowing referendum.
With $3.7 million in cash and $1.25 million in monthly expenses, officials plan to issue a new TAN by March.
A legal memo confirms no December 31 repayment deadline and no voter approval needed, allowing commissioners to extend the TAN with bank consent.
El condado de Washington evita el incumplimiento mediante el pago anticipado de $4.3 millones en notas de impuestos en medio de una crisis de deuda de $8 millones.