Wake County authorizes up to $25 million in limited obligation bonds for three public-safety projects

Todd Taylor, the county’s director of debt and capital strategy, presented the public hearing on the proposed issuance of 2026 limited obligation bonds (LOBs) to finance three public-safety capital projects.

Taylor said the first project is the Hammond Road Annex renovation (estimated $18.3 million total cost; the LOBs are projected to provide about $10,000,000 of proceeds together with cash already appropriated). When renovated, the Hammond Road Annex would provide approximately 240 beds and serve until a future detention expansion is completed. The second project is a replacement EMS station on Noble Road (Whitaker Mill/5 Points EMS) with a $4,500,000 construction cost and an anticipated $4,100,000 in LOB proceeds. The third project is the Sandy Plains Public Safety Station ($9,200,000 construction cost) with $6,400,000 in LOB proceeds; the Sandy Plains project is a co‑located facility for Wake County EMS, the Wake County Sheriff and Northern Wake Fire.

Taylor explained statutory requirements—meeting references included ‘statute 168-20’—and said Hammond Road Annex would be made subject to a deed of trust to secure the LOBs until retired. He also described timing for rating-agency meetings, Local Government Commission consideration in April and a projected sale/close timeline in April.

The board adopted a resolution authorizing the issuance and delivery of LOBs in an amount not to exceed $25,000,000 and related documents for financing these public-safety facilities.

What’s next: Staff will continue coordination with bond counsel and the Local Government Commission and will return with documentation needed to close the transaction and to implement the funded projects.