WilCo commissioners call $315 million bond election

Georgetown Transportation Director Ed Polasek and Parks and Recreation Director Kimberly Garrett discussed three road projects and five parks-related projects they said would benefit the county as a whole when they spoke to the bond advisory committee May 23.

The committee proposed a $346 million bond election at the July 23 Commissioners Court meeting. During following workshops, the Commissioners Court cut down the bond package by $31 million.

Commissioners were asked to submit the top projects they wanted accomplished in their precincts. If the bond package is approved Nov. 5, unassigned bond money could be put toward other improvement or expansion projects not specifically named on the ballot.

Precinct 3 projects include improvements to the intersection of D.B. Wood Road and Hwy. 29 and building a Hwy. 29 bypass from I-35 to Leander Road.

"The bypass will help safety and mobility, especially when I-35 is shut down, and provide additional capacity when the homes in Water Oak [at San Gabriel] come in," Precinct 3 Commissioner Valerie Covey said.

Covey said she chose "noticeable" projects—those that residents would be familiar with—to include on the ballot.

"We've done the planning work," she said. "The bonds would allow us to expand the roads as we need to."

Other major road projects in the county would include extension and widening of North Mays Street in Round Rock and improvements to Kenney Fort Boulevard in Round Rock and Little Elm Trail in Cedar Park.

Proposition 2 includes language for extension of trails to Lake Georgetown and development of parkland throughout the region, including westward expansion of the Brushy Creek Regional Trail toward Round Rock.

The parks bond proposition passed by a 3-2 vote, with Covey and Precinct 1 Commissioner Lisa Birkman dissenting for the same reasons.

"I'm voting against it because I think it's too much money, and I think the expo center [in Taylor] should be a separate item," Birkman said.

County bond rating and debt

Williamson County has a AAA bond rating—the highest bond rating possible—with two bond rating agencies despite its $798 million bond debt as of September, County Auditor David Flores said.

According to rating commentary from Fitch Ratings Inc., the county's high overall debt reflects "capital needs associated with rapid population growth."

Standard & Poor's rating services commented on the county's "deep and diverse" tax base, successful management of growth-related pressures and consistently strong financial management as a reason for the county's AAA rating.

"To get to a AAA bond rating requires more than one factor, and they have to be strong factors," Flores said. "We're taking the lead in building infrastructure. Our debt per capita is comparable or right in line with other counties."

The county is compared to three other counties—Collin, Denton and Fort Bend—in terms of population, growth and tax base for bond rating comparisons. While its total bond debt exceeds the comparable counties by $300 million and more, Williamson County's debt per capita is only slightly higher than Collin and Denton counties and lower than Fort Bend County.

Flores said that the county could call for a bond election of up to $400 million without increasing the debt service tax rate, currently approved at 16.75 cents per $100 of property valuation.

"The [total property] tax rate has been under 50 cents [per $100 of property valuation]," Flores said. "We anticipate, because of our growth, to stay at that level."

Key dates

Oct. 7: Voter registration deadline

Oct. 21–Nov. 1: Early voting

Nov. 5: Election Day, 7 a.m.–7 p.m.

A complete list of Williamson County polling locations may be found at www.wilco.org/elections.