Community Impact reports that on January 31st Montgomery County commissioners unanimously agreed to pursue a $480 million road bond in May. Since 2015, this is the first bond intitiative the county had put forth.
Commissioners, during a special workshop on January 31st, got information from county bond financial advisor John Robuck and bond counsel Marcus Deitz. They outlined three May bond initiative options which would be based on zero tax rate impact, a half-cent tax rate increase and a one-cent tax rate increase.
Bond possibility No.1 would between between $450 million to $480 million with no increase in tax rate, with an amount per commissioner of $120 million. Bond Possibility No. 2 would come in at $600 million with a tax rate impact of $0.005 increase per $100 valuation, with an amount per commissioner of $130 million to $160 million. Bond Possibility No. 3 would have a tax rate impact of $0.01 per $100 valuation, with an amount per commissioner of $175 million to $200 million.
In the end, commissioners basically agreed to go for the $480 million bond, which would result in no impact on the debt service tax rate of the county, if approved.
Previously commissioners discussed adding some infrastructure projects like a new animal shelter to a bond issue in 2024. No infrastructure projects were now up for consideration for a May bond election to allow the county to focus on road needs.
The county can call the bond election between February 3rd and 14th. Once the bond is called, however, commissioners will not be allowed to advocate to or against the bond initiative.
