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Commissioners authorize parameters for $120 million road-bond tranche and plan second issuance
Summary
The court approved an order authorizing Montgomery County to issue unlimited tax road bonds in a $60 million tranche this spring and a planned second $60 million issuance in the fall, with the aim of managing debt-service ratios.
Budget staff presented updated financials and asked the court to authorize a parameter order for the county’s road-bond issuance. Staff said combined bond proceeds and interest income totaled about $130,000,000, actual spending was roughly $42,900,000, and the county planned to issue the road bond in two $60,000,000 tranches to preserve the county's target debt-service ratio.
Marcus East, representing the county’s bond advisors, described a schedule that would close the first tranche in May and return in the fall for the second tranche. The court considered the order delegating authority to finalize pricing terms for the Montgomery County unlimited tax road bond series 2026 and approved it by voice vote. Commissioners asked timing and allocation questions; staff said the first allocations to commissioners were expected in early June.
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