GOB DRAWDOWN

Board of County Commissioners · 2026-07-21 · resolution

The document is a Board of County Commissioners agenda item for a Series 2026 Resolution authorizing the issuance of general obligation bonds to finance Building Better Communities (BBC) Projects. The bonds will be issued through a direct placement with Wells Fargo, selected through a competitive solicitation. The bonds are payable from unlimited ad valorem taxes on all real and tangible property within the County. The projects were approved by citizens at a special election on November 2, 2004, or subsequently added through a Board approved process. The Board enacted Ordinance No. 05-47 on March 1, 2005, and Resolution No. R-576-05 (Master Resolution) on May 17, 2005, authorizing general obligation bonds up to $2,925,750,000. Twelve series of bonds have been authorized in an aggregate principal amount of $2,372,285,000, of which $1,663,960,000 remains outstanding as of May 1, 2026. The proposed applicable spread is 0.35 percent and the fee for unutilized amounts is 0.20 percent. A waiver of Resolution No. R-130-06 is requested because the sale of the bonds will not occur until after the effective date of the Series 2026 Resolution. The document does not state a specific project site, address, parcel, acreage, or zoning change.