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Court approves notice to publish intent to issue certificates of obligation for Canyon Lake library expansion
Summary
Bond counsel and a financial adviser told commissioners the court will publish notice and hold a public hearing Dec. 12 on issuing certificates of obligation to finance a Canyon Lake library district expansion; the court approved Resolution No. 2024-16 to publish notice.
Comal County Commissioners Court approved a resolution authorizing publication of notice of intent to issue certificates of obligation (COs) to finance a planned expansion for the Canyon Lake library district.
Stephanie Libby, an attorney with Norton Rose Fulbright serving as bond counsel, told the court the resolution is statutorily required to call a public hearing in advance of issuing COs. Dwayne Westerman of Samco Capital Markets, the county's financial adviser, said the county would issue the COs and the Canyon Lake library district would ultimately repay them from its sales-tax revenues. The court scheduled a public hearing and potential authorization for the CO issuance at the Dec. 12 Commissioners Court meeting and approved the publication resolution (recorded as Resolution No. 2024-16).
Commissioners expressed support for the project; one commissioner said the Canyon Lake library is “my home library” and welcomed the expansion.
