The Commissioners Court of Travis County, Texas, has announced its intention to convene on April 29, 2025, at the Commissioners Court Room located at 700 Lavaca Street in Austin. The meeting is scheduled for 9:00 a.m., though alternative arrangements may be made if public health concerns arise.
During this session, the court plans to consider authorizing the issuance of one or more series of certificates of obligation. These certificates will have a maximum aggregate principal amount not exceeding $93,795,000. They are payable from ad valorem taxes and a limited pledge of surplus revenues from the county's solid waste disposal system.
The interest rates for these certificates will not exceed the legal maximum and will be determined by the County Commissioners Court before issuance. The maturity period for these certificates is set to be no longer than five years from their date of issuance.
The funds raised through these certificates aim to cover costs related to several projects. These include constructing and improving county roads and bridges, utility relocation, safety enhancements, road drainage improvements, bike lanes and sidewalks construction, as well as land acquisition for right-of-way purposes. Additionally, they plan to improve county parks and renovate existing buildings while acquiring new vehicles and equipment for public safety facilities.
Professional services related to these projects will also be funded by the certificates. This includes fees for attorneys, engineers, and other professionals involved in project execution.
The estimated combined principal and interest required to repay these certificates fully is approximately $104,605,688. This estimate assumes an interest rate of 3.75%, although actual market conditions could affect this rate.
Currently, Travis County has outstanding tax-supported debt obligations totaling $1,021,235,000. The total combined principal and interest required to settle all outstanding debts amounts to $1,353,815,815.