On March 21, Williamson County authorized the sale of $150 million in tax anticipation notes in order to fund uncompleted 2019 road bond projects. According to Dan Wegmiller, financial adviser with Specialized Public Finance, the sale is not anticipated to affect the county’s tax rate for debt services. The county will issue the short-term debt and pay back the proceeds using ad valorem taxes.
The TANs funds would go not only to remaining projects from the 2019 road bond program but will also cover costs for the expansion of the Williamson County Juvenile Detention Center. Interest rates on the tax notes are expected to land somewhere between 2%-3%. Commissioners expect the repayments to cost less to the county than it would be to delay projects and wait for other funding sources, due to increases in construction costs.
Meanwhile, the court is expected to vote on forming a citizens bond committee on March 28. The group would analyze the county’s infrastructure needs and propose projects for a potential bond package in November. Each commissioner will appoint two members to the committee, while County Judge Bill Gravell will appoint the chairperson.
The citizens bond committee is an important step in the process of ensuring the county’s infrastructure needs are met and projects are completed in a timely fashion.