Hays County Residents, Time Has Come To Pay The (Bond) Piper

The Hays County Commissioners will cast their official vote to accept the legal bond paperwork during their Tuesday meeting….Time has come to pay the (Bond) Piper

During this week’s Hays County Commissioners Court meeting, the court will be voting to file the official bond paperwork pertaining to the two county bond propositions the citizens passed on November 8, 2016…. Time has come to pay at least one of the Bond Piper’s.

Furthermore, in May, property owners received their Assessed Property Valuations/Appraised Values with estimated tax owned, using the former years tax rates.

Coming in October, property owners will receive their 2017 Tax Statement (bill) and with this week’s commissioners court vote on Tuesday, expect those numbers to be different then those received in May.

Additionally, last month, citizens all over the county voted for additional bonds in their cities and school districts. Those bonds have not been officially “levied” as of yet.

• Read full agenda below.

Agenda Item 31 on this week’s agenda is for the “election held on November 8, 2016 (the “2016 Election”), in the County, the resident, qualified electors in the County authorized the issuance of $106,400,000 (the “Public Safety Facilities Authorization”).

Discussion and possible action to adopt an order by the Commissioners Court of Hays County, Texas authorizing the issuance of “Hays County, Texas Limited Tax Bonds”; levying an annual ad valorem tax, within the limitations prescribed by law, for the payment of the bonds; prescribing the form, terms, conditions, and resolving other matters incident and related to the issuance, sale, and delivery of the bonds; delegating the authority to certain members of the Commissioners Court and County staff to execute certain documents relating to the sale of the bonds; authorizing the execution of a paying agent/registrar agreement; and providing an effective date.

The official bond paperwork for “Public Safety Facilities”  states;

SECTION 7.  TAX LEVY. To provide for the payment of the Debt Service Requirements on the Bonds being (i) the interest on the Bonds and (ii) a sinking fund for their redemption at Stated Maturity or a sinking fund of 2% of the outstanding principal amount of the Bonds (whichever amount shall be the greater), there shall be and there is hereby levied for the current year and each succeeding year thereafter while the Bonds or any interest thereon shall remain Outstanding, a sufficient tax, within the limitations prescribed by law, on each one hundred dollars’ valuation of taxable property in the County, adequate to pay such Debt Service Requirements…

Agenda Item 32 on this week’s agenda is for the bond “election held on November 8, 2016 (the “2016 Election”), in the County, the resident, qualified electors in the County authorized the issuance of $131,400,000 (the “Road Authorization”).

Discussion and possible action to adopt an order by the Commissioners Court of Hays County, Texas authorizing the issuance of “Hays County, Texas Unlimited Tax Road Bonds”; levying an annual ad valorem tax, without limit as to rate or amount, for the payment of the bonds; prescribing the form, terms, conditions, and resolving other matters incident and related to the issuance, sale, and delivery of the bonds; delegating authority to certain members of the Commissioners Court and County staff to execute certain documents relating to the sale of the bonds; authorizing the execution of a paying agent/registrar agreement; and providing an effective date.

The official Road Authorization bond paperwork states;

SECTION 11. Tax Levy. To provide for the payment as authorized by the provisions of Article III, Section 52 of the Texas Constitution of the Debt Service Requirements on the Bonds being (i) the interest on the Bonds and (ii) a sinking fund for their redemption at Stated Maturity, there shall be and there is hereby levied for the current year and each succeeding year thereafter while the Bonds or any interest thereon shall remain Outstanding, a sufficient tax, without legal limit as to rate or amount, on each one hundred dollars’ valuation of taxable property in the County, adequate to pay such Debt Service Requirements…

Hays County Commissioners Court Regular Meeting Agenda — Tuesday, June 27, 2017 at 9:00 AM