WASHINGTON CO. COMMISSIONERS CALL $15.45 MILLION BOND ELECTION FOR EXPO MULTI-USE FACILITY
Washington County Commissioners moved unanimously today (Friday) to call a bond election in November for a new multi-purpose facility at the Washington County Expo.
The proposal that will appear on the November 3rd ballot is for the issuance of $15,450,000 in bonds to go toward the construction of the facility, previously labeled as a covered rodeo arena.
The county says the facility would provide a weather-protected, year-round venue that offers flexibility for events for livestock, equine, rodeo, agricultural and the community, as well as events like trade shows. It also says it would help the Expo bring in larger gatherings, benefit local businesses and increase the Expo’s overall economic impact.
The estimated tax rate increase, if the bond measure passes, would be $0.0143 per $100 valuation. According to voter information included in the meeting agenda packet, a residential homestead would be projected to pay a maximum annual increase in property taxes of approximately $12.38 per $100,000 of value. The county’s principal plus interest to pay off over the 25-year note would total an estimated $26,841,376.
Commissioner Candice Bullock said the bond is being proposed under the county’s park bond authority. The Expo was designated as a park during the court’s meeting on July 14th.
The proposal was initially considered as part of a combined $61 million issuance of certificates of obligation (COs) for the multi-purpose facility and a new judicial center. However, commissioners opted to separate the two projects. The issuance of up to $45 million in COs for the judicial center was approved on Tuesday.
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Click here to view the agenda packet for Friday's meeting.