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Public Building Commission and county clear way to offer $11M in building bonds
Summary
The Ellis County Public Building Commission voted to authorize offering bonds to fund a set of building projects; bids will be solicited March 9 and the PBC and county plan to ratify actions March 10. The authorization follows a passed protest period and counsel advice about bid parameters.
The Ellis County Public Building Commission voted to authorize offering bonds for several planned building projects, with bids to be accepted the morning of March 9 and ratification by the PBC and county scheduled for March 10.
Darren Myers, identified in the record as county administrator, summarized the list of projects and said the PBC and countys bond counsel had prepared documents attached to the agenda. Financial advisor Larry Klayman (Ransom Financial), introduced during the PBC discussion, said: "We'll send them out and we'll collect bids actually the morning of March 9, the day before your county commission meeting next month." He added that the documents authorize county staff to approve bids within set parameters (under $11,000,000 and subject to a specified interest-rate threshold).
The commission recorded a voice vote after a motion and second; the chair announced the motion approved. Counsel and staff noted the protest period for the offering had closed and that the county would work with bond counsel and its financial advisor on final pricing and document execution. The authorization permits the county to proceed to market the bonds; final pricing and formal issuance depend on bids and subsequent ratification by both the PBC and the county commission.
The commission did not hold an executive session and the PBC adjourned at 08:37.
