Approval of $120 Million Water and Sewer Bond Refinancing

Original title: Approve and authorize the Chairman to sign a Supplemental Resolution authorizing the issuance of Water and Sewer Revenue Refunding Bonds, Series 2025A (the “2025A Bonds”) in an amount not to exceed $120,000,000 to defease and refund all outstanding Water and Sewer Revenue Bonds, Series 2010A (the “2010A Bonds”) and Water and Sewer Revenue Refunding Bonds, Series 2015A (the “2015A Bonds” and together with the 2010A Bonds, the “Refunded Bonds”) and approve all forms, related documents and their execution. Countywide (Lorie Bailey Brown, CFO/Resource Management Director) Requesting Department - Utilities

June 10, 2025

water and sewer bonds county finance infrastructure

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The Frame

What this does

This decision updates the county's debt structure for water and sewer infrastructure, potentially changing interest costs associated with the $120 million in outstanding obligations.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Utilities Department

The department is responsible for the management of the bonds and the underlying infrastructure debt.

County taxpayers

The county's debt obligations are backed by revenue from the water and sewer system, which is funded by utility users.

What changed

Last recorded activity June 10, 2025.

What's next

Next step not available in the current record.

Summary

The Board of County Commissioners has approved the issuance of up to $120 million in new to refinance older debt. This action replaces existing 2010 and 2015 water and sewer bonds with new Series 2025A bonds.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

What does it mean to 'defease and refund' bonds?

It means the county is using the proceeds from the new 2025A bonds to pay off the existing 2010A and 2015A bonds, effectively replacing the old debt with new debt.

Will this increase my water or sewer rates?

The document does not state whether this action will impact utility rates; it only authorizes the refinancing of existing debt.

Why It Matters

This decision updates the county's debt structure for water and sewer infrastructure, potentially changing interest costs associated with the $120 million in outstanding obligations.