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County staff to fast‑track PID amendment allowing overlap for PID 1 special assessment bond
Summary
Lawyers for the Promontory PIDs asked the commission to amend governing language to allow PID 1 to overlap PIDs 2 and 3 provided PID 1 does not levy property tax; the change would permit a special‑assessment bond issuance and the finance committee recommended forwarding language for legal review and a commission agenda.
Counsel for the Promontory PIDs explained a narrow amendment to the districts’ governing document that would permit PID 1 to overlap PIDs 2 and 3 on the condition that PID 1 does not levy a property tax. The purpose is to allow PID 1 to use a special assessment (rather than a property‑tax levy) to support an initial bond issuance tied to project infrastructure.
Matt Enns, district counsel, said the proposed language protects property owners from double property‑tax levies while allowing the project team to access the bond market via a special‑assessment structure. The county’s finance committee recommended approval, and staff asked legal counsel to review the draft language so it can be placed on the commission agenda as soon as the county attorney signs off.
What’s next: counsel will send draft amendment language to the county attorney for review and, pending approval, the county staff will place the amendment on the next available commission agenda to enable a bond issuance process.
