...Sale Date: Bond Anticipation Notes (BANs) and Tax Anticipation Notes (TANs) on Dec. 6; bonds on Dec. 11. Series: Approximately $435,000,000 general improvement bonds, 2017 refunding series C; $98,000,000 BANs, 2017 Series B; $80,000,000 TANs, 2017 series A; and $297,000,000 TANs, 2017 series B. Purpose: Bonds -- to refund outstanding GO bonds. BANs -- to refinance a portion of Nassau County's (the county) 2016 series D BANs. TANs -- to provide cash flow in anticipation of the collection of real property taxes to be levied for 2018. Proceeds will also pay costs of issuance. Security: The county's faith and credit and taxing power, subject to a 2011 state statute limiting property tax increases to the lesser of 2% or an inflation factor (the tax cap law). This limit can be overridden annually by a 60% vote of the county legislature....
