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Johnson County PBC approves $38.65 million bond sale to finish Health Services Building
Summary
The Public Building Commission authorized offering $38.65 million in lease-purchase revenue bonds on Aug. 5 to fund $33 million for the Health Services Building and $5.1 million for the MARK program; the resolution passed 6-0 after staff said the issuance was planned and no scope changes were required.
The Public Building Commission of Johnson County on July 16 authorized the offering for sale of approximately $38,650,000 in lease-purchase revenue bonds, Master Lease Series 2026A, to fund the remainder of the county’s Health Services Building and the county’s Major Asset Replacement (MARK) program. The commission set the sale date for Aug. 5, 2026, and the related Public Development Corporation sale is scheduled for Aug. 6.
Leslie Friedel of Budget and Financial Planning told the commission the bond proceeds would finance two projects: "We will be doing the remainder of the Health Services Building for 33,000,000, and then we will also be issuing 5,100,000 for our MARK program, our major asset replacement program." Friedel said the timing aligns with the county’s plan; staff previously issued $66 million in 2024 for the Health Services Building and have about $20 million in cash remaining.
Commissioner Ashcraft asked whether the issuances were planned and whether any scope changes affected this issuance. Friedel replied the issuances were planned and that there were no scope changes to this particular issuance, saying August met expectations for issuing debt this summer or fall.
Commissioner Myers moved to approve Resolution PBC 001-26; Commissioner Brewer seconded. Commissioner Ashcraft said he had "some concerns about this project" but called the item a procedural matter and said he would support it. The clerk then called the roll; Commissioners Fast, Myers, Brewer, Ashcraft, Allen Brand and Chairman Mike Kelly voted yes and the resolution was adopted by a 6-0 vote.
The commission’s action authorizes staff to proceed with the bond offering and sets the schedule for the sale; the item will also be presented to the Board of County Commissioners and the Public Development Corporation as part of the sale process. Chair Mike Kelly recessed the special PBC agenda to allow the clerk to reopen the regular business session.
