WASHINGTON CO. COMMISSIONERS APPROVE ISSUING UP TO $45 MILLION IN CERTIFICATES OF OBLIGATION FOR JUDICIAL CENTER

  

Washington County Commissioners moved 4-1 today (Tuesday) to issue up to $45 million in certificates of obligation (COs) to build a new judicial center.

The issuance of the COs came after a petition filed with the intent of bringing the judicial center project to a public vote through a bond election in November did not reach the threshold of signatures needed.  Commissioner Misti Hartstack Corn voted against, saying at a previous meeting that the project should go before voters directly. 

County Clerk Nick Prenzler said after review of the petition submitted Monday, there were 700 signatures on the petition, shy of the 1,295 needed in order to hit the 5 percent mark of registered voters in the county and have the proposal go to the ballot. 

The judicial center is planned to be roughly 70,000 square feet and house two district courtrooms, a county court at law courtroom, and a community space that can serve as an extra courtroom.  It would also include a detention area for inmates that connects to the jail via a secure inmate corridor.

Commissioner Kirk Hanath said what came out of the petition process allowed for constituents to learn more about what this project entailed.  He said everything the county needed to do to provide information and the opportunity for feedback has been satisfied, and the county can now proceed with the project at the lowest costs currently possible.

County Judge John Durrenberger, citing info provided by Garry Kimball of Specialized Public Finance, Washington County’s financial advisor, said 12 bids were received for the CO deal and that this was “an exceptional reception by the market.”  Durrenberger said the bids still need to be verified, but the apparent winner for the 25-year CO (more information here) came in from Jefferies LLC with an interest rate of 4.407 percent, above the 4.35 percent budgeted due to developments in the Iran war.  The difference between the budgeted rate and final rate comes out to just under $19,000 more per year over the course of the note.

The county projects a maximum net tax rate increase of $0.0262 per $100 valuation.  Per information provided by the county, the estimated impact by taxable home value is $26.20 a year per $100,000 of value, $65.50 a year per $250,000, and $117.90 a year per $450,000.  Homeowners 65 and older who qualify for an applicable homestead tax ceiling could see little or no increase to the county portion of their homestead property tax bill.  The county notes that individual tax impacts may vary based on taxable value, exemptions and applicable tax ceilings. 

Sharlie Douglass, one of the organizers of the petition initiative who spoke last week with KWHI, issued a statement today:

“I want to take a moment to thank everyone—more than 700 people—who supported this effort, collected signatures, and signed the petition protesting the Certificates of Obligation. While we did not obtain the number of signatures needed to place the Justice Center project on the ballot, I am incredibly grateful to everyone who took the time to get involved and make their voice heard. I also want to be clear: I support the project. This effort was never about stopping the project. The Protest Petition was about giving the voters an opportunity to request that the Washington County Commissioners Court submit the proposed debt to the qualified voters of Washington County through a bond election before authorizing the issuance of any Certificates of Obligation. Regardless of the final number of signatures, more than 700 people took the time to participate, stand behind something they believed was important, and put their names on a petition. That is significant. Thank you to everyone who helped, signed, shared information, encouraged others to participate, and supported the effort. I truly appreciate your time, your trust, and your willingness to be involved in the process.”

Commissioners will hold a special meeting on Friday at 9 a.m. at the Washington County Courthouse to vote on calling a bond election in November for the Expo covered rodeo arena project.  The $16 million proposal was initially considered as part of the CO issuance, but commissioners opted in July to separate the judicial center and arena projects.

Also at today’s meeting, commissioners:

• Approved a resolution and contract amendment to commit up to $21,535 towards the cost of an archeological study in support of a Community Development Block Grant Mitigation contract through the execution of an amendment to the grant administration services between the county and GrantWorks, Inc.  The item pertains to the project to build a bridge on South Meyersville Road over New Year’s Creek, which the county is using grant funding for a large portion of.  County Engineer Wesley Stolz said the Texas Historical Commission deemed that the county needs to perform an archeological study, as a cemetery is located not far away from the project area.
• Approved an order for the November 3^rd general election as recommended by the Texas Secretary of State.
• Approved a right-of-way permit for the Washington County Fair Trail Ride.
• Accepted a $300 donation from Burton Friends and Neighbors for the Washington County Sheriff’s Office, earmarked for the Citizens on Patrol program.
• Approved the official bond for sheriff’s office reserve deputy, Erik Marmol.
• Approved the appointment and the official bond for David Blakey as reserve deputy constable with the Washington County Precinct 1 Constable’s Office.
• Read a proclamation recognizing August 11^th as 811 Day in Washington County and encouraging safe digging practices.

Click here to view the agenda packet for Tuesday's meeting.