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Rockwall County authorizes parameter ordinance to issue up to $50 million in road bonds
Summary
The commissioners court approved a parameter ordinance authorizing the issuance and sale of up to $50 million in permanent improvement bonds for road projects, with advisors reporting strong credit ratings and an estimated tax‑rate impact of roughly one penny under conservative assumptions.
Rockwall County commissioners voted Jan. 13 to approve a parameter ordinance authorizing the issuance and sale of Rockwall County Permanent Improvement Bonds, Series 2026, in an aggregate principal amount not to exceed $50,000,000.
Martie Hsu of Hilltop Securities, the county's financial advisor, told the court the county completed rating meetings and earned affirmations from S&P (AA+) and Fitch (AAA). Hsu presented an updated tax‑rate impact analysis that assumed conservative growth and an illustrative interest rate near 3.9 percent, and said that under current assumptions the projected tax‑rate impact would be "just over 1 penny." Hsu recommended moving promptly to market while monitoring volatility.
County staff explained the IRS expectation that a reasonable portion of bond proceeds (85 percent) be expended within the first three years; commissioners discussed project schedules and the need to align consultant work and contractor availability to meet that expectation.
Judge New moved approval of the ordinance with Lisa Constant Wiley assigned as signing agent; the motion passed 5–0.
