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Williamson County approves three road-district bond sales and sets tax rates for four districts
Summary
Commissioners received bond-sale results and approved record votes setting tax rates for Avery Center, Somerset Hills (Districts 3 and 4), Northwoods and Pearson Place road districts.
Williamson County commissioners on Aug. 19 voted to approve the results of three road-district bond sales and to set proposed tax rates for multiple road districts.
The county’s finance team reported bond-market results for three anticipated road‑district financings. Gary Kimball of Specialized Public Finance told the court the deals priced better than targeted interest-rate assumptions: Somerset Hills District 3 priced at about 4.99%, Somerset Hills District 4 near 4.98% and Avery Center No. 1 about 4.96%. Staff said each transaction was sized assuming no additional tax-base growth and that debt-service targets fit the districts’ caps.
Record votes followed for proposed tax rates. The court set Avery Center Road District No. 1 at 15 cents per $100 of assessed value, Somerset Hills Road Districts No. 3 and No. 4 at 29 cents, reduced the Northwoods Road District No. 1 rate to 0.172 cents (a reduction), and set Pearson Place Road District at 0.049 cents (also a reduction). Each of those tax-rate motions passed by recorded vote with unanimous support.
Why it matters: The bond sales finance completed infrastructure improvements and the tax-rate settings establish the districts’ maximum voter-approved debt service rates. County staff said the financings reimburse costs for road improvements already completed and do not rely on assumed new growth.
Next steps: Commissioners approved the offering results and record votes; staff will proceed with closing financings and continue district-specific communications about tax impacts.
Votes and record votes were taken on the record for each district and the court announced each precinct vote in sequence; all record votes were unanimous in favor.
