Travis County Commissioners Court
August 8, 2006
Item 27
27. Receive update and take appropriate action on an agreement with Texas department of transportation to fund right-of-way for sh 45 north. Mr. Gieselman?
>> thank you. Actually the memo is to just give you a status report on where that project is with the state. In researching this, going back through previous agenda items, the court had already passed a unanimous motion to proceed to a amend the agreement with txdot to basically -- basically reduce the obligation that we have to the -- to the state for the -- for the cost of the right-of-way. And so I don't -- I don't think that I need, if that is still the direction of the court, I don't think that I need any direction from the court. I just need to go ahead and execute now based on the most recent information that I have from txdot. But what it will do, the nets of all of that will free up about $12 million of county debt, that can be unobligated and then the court will need to proceed on to defease that debt or use it for some other purpose based on what you hear from your bond council.
>> the question of what to do with the money will come back to us later?
>> that's right.
>> okay.
>> this is a precedent for you being able to use that money for any other thing.
>> this is whether we want to change your mind on corrections we gave you or to remain in full force and effect.
>> that's right.
>> move the same.
>> [indiscernible] one of those, wasn't it tied into a second bond? 45 north was tucked in there with a little piece of, is it 1826?
>> yes, there's actually the larger piece of it was.
>> okay.
>> there's two bond elections, the 2000, 2001 that are -- that are part of the money obligated. The larger amount is actually tied to two improvements, one on 1826 and also state highway 45. Those are question that's the bond council still needs to reconcile.
>> okay. My question is really don't we have to complete everything in that bond proposition before we declare that bond proposition to be --
>> that is a legal question. And --
>> comes bake later, though. All that we are deciding today is pay what you owe the state, let us know what the surplus is.
>> that's right.
>> we will later decide.
>> we will have the amended agreement back with the court when we have that finally negotiated.
>> thanks.
>> any other discussion? All in favor? That passes by unanimous vote.
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Last Modified:
Tuesday, August 8, 2006 8:14 PM