Grayson County commissioners will decide Tuesday, Oct. 13, whether to start the clock on borrowing up to $8.5 million without a bond election.
The agenda for the 10 a.m. meeting at the courthouse in Sherman lists a presentation on potential "Grayson County Certificates of Obligation Series 2026" by Dave Gordon of Estrada Hinojosa, followed by a vote on a resolution to publish a formal notice of intention to issue them. County Judge Bruce Dawsey is listed as presenting the resolution.
What the money would pay for
The draft notice in the meeting packet says the certificates would fund buying land for a site for public safety, jail and judicial facilities; preparing that site, including moving utilities; designing, building and equipping those facilities; related professional services; and public safety vehicles and equipment, including a fire truck for the county airport. Financing costs would also be covered.
The packet does not say where the site would be or which buildings would go on it.
The debt would be repaid from the county's property tax, and the certificates could run until Aug. 15, 2047. The notice estimates total principal and interest on the new borrowing at about $12.8 million.
For comparison, the notice puts the county's current outstanding debt principal at $24,945,000, or $29,912,150 once interest is included.
