Travis County Commissioners Court

March 20, 2012 (Agenda)
Item 11

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11 is consider and take appropriate action on adoption of an order authorizing publication of notice of intent to issue certificates of obligation.

>> planning and budget.
our bond counsel.
last week Commissioners court approved the f.y.
12 issuance of certificates of obligation.
those projects were listed and discussed at that time.
and today as required by law we are here to post a notice of intent or the order, excuse me, authorizing the publication of notice of intent to issue certificates of obligation.

>> glenn opal, county's bond counsel.
as jessica said the action item is the authorization of order that authorizes publication of notice to publication pursuant to the c.o.s, it's first with the first publication being at least 31 days prior to the date you plan on adopting the order.
notice the format that we've used for most of the court the last 20 years.
I'd be happy to entertain any questions.

>> any questions for mr. Opal? Mr. Reeferseed, you have a question.

>> yes, yes, sir, thank you.
mine is just -- ronnie reeferseed.
I just have an inquiry.
I'm revealing my ignorance.
it just seems like I tried to -- I don't know what the terms mean.
can you -- certificates of obligation.

>> it's a form of debt obligation issued by the county similar to a bond.

>> oh, okay, so it's ongoing -- it's a mechanism for paying --

>> it's a mechanism for funding, currently funding projects and equipment and other items for the county that the county will pay off as a debt obligation from limited ad valorem taxes over the course of a 20-year -- 5-year period, excuse me, in this case.

>> okay.
well, thanks.
just my ignorance.
seemed like of like gobble I did good morning.

>> discussion on the motion? That passes by unanimous vote.

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