Butler County is poised to borrow $7 million for a 2017 tax anticipation loan.

Such a tax anticipation note is used to pay government expenses in the early part of the year until tax revenue is collected.

The county received proposals from four banks.

NexTier Bank offered the county a 0.94-percent rate, First Commonwealth Bank offered a 1.19 percent rate, Huntington Bank offered a 1.85 percent rate, and PNC Bank made two offers with rates of 1.23 percent and 1.27 percent.

The 1.23 percent would be a six-month fixed rate to be followed by a variable rate while the 1.27 percent would be a nine-month fixed rate followed by a variable rate.

NexTier also offered a taxable loan with a rate of 1.45 percent.

Scott Shearer, managing director of Public Financial Management of Harrisburg, county financial adviser, recommended the NexTier proposal with the 0.94-percent rate at the county commissioners meeting Wednesday.

County Commissioner Kim Geyer said the choices were clear.

“It’s pretty cut and dry,” she said.

Commissioner Kevin Boozel also said he was satisfied.

“Good result,” he said.

Most of the proposals were tax-free yields, but NexTier also offered a taxable loan with a 1.45 percent interest rate.

Any tax anticipation loan would mature and be payable in full Dec. 31, 2017.

The earliest the commissioners can select a loan is their meeting next week on Wednesday.