RANDALL COUNTY, Texas (KAMR/KCIT) – The Randall County Commissioners’ Court released its agenda for its meeting scheduled for Tuesday at 9 a.m. in the Commissioners’ Courtroom in Canyon.
According to the published agenda, the court is expected to discuss the approval of multiple purchases ranging from new construction equipment to concrete flooring at the Amarillo Annex, a victim assistance grant contract with the Office of the Attorney General, and the possible notice of intention to issue certificates of obligation.
As noted on the Texas Comptroller’s website, certificates of obligation, also known as COs, are a common method that local governments use to borrow money. They’re like general obligation bonds in the sense that they issue long-term debt, but have a more streamlined process that often doesn’t require voter approval. Texas cities, counties and health districts can use them to fund a range of projects, including:
- Construction, demolition, or restoration of structures
- Purchasing materials, supplies, equipment, machinery, buildings, land, and rights of way
- Paying for professional services
The Comptroller’s website detailed that certificates of obligation are often associated with emergency spending, but they can be used to fund standard local government operations as well. They’re issued for terms of up to 40 years, most often supported by property taxes or other local revenues, and do not require voter approval unless five percent of qualified voters within the jurisdiction petition for an election on the spending that the related local government has targeted for the certificates of obligation.
According to the published agenda, the Randall County Commissioners’ Court will discuss considering authorizing publishing a notice of intention to issue certificates of obligation, as required by the Securities and Exchange Commission.
Those wishing to attend the court meeting via Zoom may do so through information found on the Randall County website.