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Roosevelt County approves up to $315 million in IRBs for Blackwater Solar Center
Summary
The Roosevelt County Commission unanimously approved Ordinance 2024-03 to issue up to $315 million in taxable Industrial Revenue Bonds for the proposed Blackwater Solar Center, after a presentation explaining the IRB process and questions from local school superintendents about funding distribution and safety.
The Roosevelt County Board of Commissioners voted unanimously on Nov. 12 to adopt Ordinance 2024-03 authorizing issuance of taxable Industrial Revenue Bonds in an amount not to exceed $315,000,000 to support the proposed Blackwater Solar Center project.
Peter Kelton, an attorney with Rodey Law Firm advising the county through the IRB process, told commissioners that industrial revenue bonds "are not an obligation of the county," and outlined a sample formula for distributing payments to school districts under the IRB framework. Representatives from Orsted answered commissioners' and school superintendents' questions about funding flows, erosion control and safety measures.
The ordinance approval followed the presentation and a period of questions; the motion to adopt passed 5-0. The county record shows the vote was made after commissioners reviewed the IRB overview and heard that the bond structure would not create county debt. The ordinance as adopted caps the bond amount at $315,000,000 but does not itself authorize construction or guarantee project timelines.
Local superintendents attending the meeting asked how the formula would allocate funds to districts and raised concerns about safety and erosion near project sites; those concerns were discussed with Orsted representatives during the presentation but no amendments to the ordinance were proposed at the meeting. The commission did not place conditions in the ordinance text requiring specific mitigation measures; the transcript records questions and answers but no formal resolution tying project approval to specified mitigation plans.
Next steps identified at the meeting include administrative steps required under the IRB process and continued coordination between county counsel, the developer and affected districts. Details about implementation timing, construction permits and whether the county will require additional engineering or erosion-control guarantees were not specified at the meeting.
