Community Impact reports that according to an update presented to Montgomery County Commissioners on June 10th, a total of $120 million in bond funds is set to be available across the county by July 24th.
The official timeline for when commissioners would have access to the first wave of bond funds from the $480 million bond issue approved by voters May 3rd was presented by Managing Director of BOK Financial Securities and County Bond Legal Counsel Marcus Dietz of Orrick, Herrington and Sutcliffe.
Robuck said the markets are stabilizing “a little bit.” He said the last few months “its been volatile.” He also said, “[Interest] rates have come down, but we’re still watching inflation and obviously the employment numbers. We do think with your name and with your rating . . .we’ll attract a lot of investors.”
In a resolution presented by Dietz, commissioners okayed a resolution raising the amount of funds commissioners can spend from their own budgets from the previously agreed $8 million to $12.5 million. If projects incur costs between bond issuances, Budget Director Amanda Carter said this will allow commissioners to have a financial buffer.
