CLAY COUNTY BOND INITIATIVE
Clay County Progress - Bond Dollars at Work
(updated as of 12/6/2021)
On August 25th, 2021, the Clay County Commission unanimously voted with 2021-Ordinance-33 to refund previous 2018 Certificates of Participation (COPs).
By returning the old bonds, the County realized an approximate $40 million reduction in long term debt (~$60 million to ~$20 million) and a 2% cut in interest rates. The duration was reduced from 2038 to 2031 as well, or 7 years, with the refunded 2021A bonds.
The main project of the 2018 COPs, a new annex on Brighton, was repealed. The Commission unanimously approved 2021-ORD-43 on October 20th, 2021, to authorize some $6 million of tax-free new bonds (2021B) needed to complete the remainder of the projects from 2018, including several Highway bridge projects as well as HVAC improvements at the Administration Building.
Bond Payment Tracking Spreadsheet