$80 million bond proposed

Local News

August 22, 2008

Anonymous The Weatherford Democrat Fri Aug 22, 2008, 09:55 AM CDT

Chelsea L. McGowan

cmcgowan@weatherforddemocrat.com

In a special session of the Parker County Commissioner’s Court, the court voted to pursue a transportation bond issue program in the amount of $80 million.

Dwain Brown, an engineer with Freese and Nichols, presented the planning and implementation program to the court.

“We want to meet the immediate short term transportation needs of Parker County as well as plan for future programs,” he said. “Our key goals are to mitigate congestion, make safety improvements and work on air quality.”

According to Brown, the list of projects to be included in the bond issue was compiled with the help of a group of private citizens who offered ratings on each individual project.

“Based on those ratings and all the other information we compiled, I believe we’ve come up with a good program and a solid list of projects,” he said.

More than 50 different transportation projects are outlined in the bond program, and Brown said the work is “pretty evenly” split among all four precincts.

“Between all four precincts, the work is pretty evenly spread out,” he said. “Everyone we’ve talked to has agreed that the loop around Weatherford in Precincts 2 and 3 is the main priority project.”

Nick Bulaich joined other speakers in congratulating the court on their efforts.

Bulaich is the assistant vice president of First Southwest Company, an enterprise that is assisting with the bond issue.

“The bond rating could not have come at a better time in the market,” he said. “I think you have a really strong plan here.”

Bulaich advised the court to consider at least a 25-year repayment plan on the bond issue, which he said would ease the impact to tax payers.

“The 25-year repayment plan allows you to layer on future bond issues and keep your tax rate comfortable,” he said. “For every $5 million added in for these bond issues, the difference to the tax rate is three-tenths of a penny.”

Following that calculation, Bulaich explained the overall tax impact for an $80 million bond would be eight and one-half cents per $100 property valuation.

Precinct 3 commissioner John Roth commented that, while $80 million is a higher bond amount than anticipated by the court even a month ago, the amount is still conservative.

“To put this $80 million in perspective, the most we could issue legally would be a $1.6 billion bond,” he said. “This is the most we’ve seen here, but it is still a very reasonable issue.”

Ultimately, the court voted to proceed with an $80 million bond issue on a 30-year repayment plan.

Following a proposition proposal on Aug. 25, the issue is expected to appear on the November ballot.

Text Only

Local News

Sheriff, judge at odds over mailer
Parker County Sheriff Larry Fowler sent out a statement and automatic phone calls across the county Wednesday saying he did not endorse incumbent 43rd District Judge candidate Trey Loftin, following a mailer sent by the judge’s campaign that included a quote from Fowler.
However, Loftin said Thursday Fowler made the referenced statement to a room full of people at a fundraiser for Loftin and agreed to let Loftin’s campaign quote the sheriff.

May 25, 2012 1 Photo
Film director looking for local actors
May 25, 2012
Book Smart
May 24, 2012 1 Photo
Pastors: bring prayer back
May 24, 2012
Weatherford council approves rezoning requests
May 24, 2012
City won’t accept recall petitions
May 24, 2012
Gymnasts display all-around talent
May 23, 2012 1 Photo
Honoring their own
May 23, 2012
WISD band director to retire
May 23, 2012
Escapee kills self after pursuit
May 22, 2012 1 Photo
More Local News Headlines

The Air Force Academy recently graduated their first openly gay cadets. What does this signify?

Local News

Search Results

$80 million bond proposed

The Air Force Academy recently graduated their first openly gay cadets. What does this signify?

Site Map

Contact Weatherford Democrat