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Commissioners approve $3.7 million additional principal payment to retire road bond early
Summary
Using casino-tax proceeds, the board authorized applying roughly $3.7 million in additional principal to accelerate payoff of a 20-year road bond certificate; staff said about $4.5 million sits in the full trust fund and further retirements may follow.
Williamson County commissioners voted July 21 to apply additional casino-tax-derived funds to accelerate repayment of a long-term road bond.
County staff reported the full trust fund contains about $4.5 million from casino-tax receipts and that the total amount due on the callable certificates is roughly $3,976,518.75 (discussion rounded to an approximately $3.7–$3.77 million additional principal payment after excluding the semiannual interest portion). Commissioners discussed the board’s longstanding goal to retire the certificates within seven to ten years and supported using available casino-tax receipts to reduce debt service and shorten the payoff timeline.
A motion to apply the additional principal payment passed on roll call. Staff said they expect to continue applying casino-tax receipts as available and may make further retirements in January when the next semiannual interest payment is due. The board instructed staff to provide the final payoff schedule and balance after the principal application is processed.
