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The Hays County Commissioners’ Court authorized the issuance of Certificates of Obligation, or COs, to fund major county projects at a Jan. 20 meeting.
The big picture
The authorized COs will fund five projects related to county office and administrative buildings, a judicial facility and animal shelter facilities.
A CO allows the county to fund public projects by using debt without voter approval.
The cost
The debt service will be paid for with revenue from an estimated tax rate levy of $0.0102 per $100 assessed property value, according to agenda documents, and may also draw on net revenues from the county’s solid waste system.
The COs must be repaid within 30 years of issuance.
About the projects
The authorized COs will fund five major county projects, according to agenda documents, including:
