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Commission OKs bond parameters to access CIB loan for Jackson Street drainage project
Summary
The commission approved a parameters resolution authorizing up to $1 million in transportation sales‑tax revenue bonds to access a Community Impact Board loan and grant for the Jackson Street drainage project; a public hearing was set for Aug. 18, 2026.
County bond counsel and financial advisors briefed commissioners on parameters for financing the Jackson Street drainage project. The Community Impact Board previously authorized a loan (~$909,000 at 1% for 30 years) and a grant for the project; the parameters resolution authorizes up to $1,000,000 in transportation sales‑tax revenue bonds with flexible upper limits on term and rate so the county can access the CIB loan and close financing without reauthorizing if minor changes occur.
Bond counsel noted that the county set conservative upper parameters so staff does not have to return for reauthorization if bids or final terms change slightly. The commission unanimously approved the parameters resolution and scheduled a public hearing for Aug. 18, 2026.
