Commission approves bond placement to fund Peterson Ranch street project and solid-waste tipping floor

Britney Phillips, the county's budget and finance officer, presented a bond placement recommendation that combined the Peterson Ranch Benefit District street project with a solid-waste tipping-floor project to secure a lower interest rate. She said Commerce Bank (listed as Clayton Holdings) submitted the best proposal and that five properties paid special assessments early, which affected documentation timing. "So, of course, Petersen Ranch Benefit District will only be charged for what is associated with the cost of that project," Phillips said, and she explained the solid-waste project repayment is structured so user fees will cover the loan over five years while Peterson Ranch will be repaid over 10 years.