If later issued, the certificates would be payable from countywide property taxes and pledged net revenue from the county solid-waste system. The county’s estimate puts principal and interest on the proposed certificates at $39,603,934, with a maximum maturity date of Feb. 1, 2058.
Comal County commissioners are scheduled to consider authorizing notice for up to $25.575 million in certificates of obligation for water-quality protection land and related project costs; the debt itself is not yet authorized.
The notice lists $85.745 million in current county ad valorem debt principal and $99.050518 million in principal and interest needed to pay that debt in full. Those figures describe existing tax-backed obligations; the $25.575 million is the maximum principal proposed for this separate financing.
What the proposal would fund
The draft resolution ties the financing to the Comal County Water Quality Protection Lands Program. It lists the acquisition of property rights intended to help preserve the water quality of county creeks, rivers and springs, along with related land, easements, rights-of-way, equipment and professional services for design, project management and financing.
An Oct. 1 approval would authorize publication of the notice, not the debt issuance or a property purchase. The resolution calls for newspaper publication once a week for two consecutive weeks and continuous posting on the county website for at least 45 days before the later authorization date.
What happens next
The draft notice schedules Nov. 19 at 8:30 a.m. as the tentative date for commissioners to consider the order authorizing the certificates. Before that, the Oct. 1 agenda places the notice resolution before the court at 8:30 a.m. in the Commissioners Courtroom, 100 Main Plaza in New Braunfels; the agenda allows three minutes per person for public comments.
Residents can inspect the posted resolution for the proposed borrowing ceiling, repayment sources and debt estimates, and the full meeting agenda for the Oct. 1 logistics and the item’s procedural status. The recorded vote and any revised financing documents will determine whether the notice proceeds and whether the terms change.