County staff lay out multi‑year bond package scenarios and debt‑service impacts

County staff presented a detailed bond status update outlining needs, timelines and several financing scenarios for possible voter authorization. The presentation showed outstanding 2023 bond authorizations to be sold in 2026–2028 and a proposed 2026 authorization that could total roughly $318M, yielding combined sales in some years of more than $322M under certain plans.

County Administrator Yoon Kim and the financial analyst presented multiple growth and tax‑rate scenarios (1%–6% flat growth and a conservative ‘slow increase’ scenario). Staff emphasized that the county can sell only portions of authorization in each year without increasing the current debt service rate, and that selling the full proposed authorization in 2028 would raise the tax‑rate pressure under several scenarios. Staff provided examples of amounts budgeted by purpose (courts and detention, parks, transportation) and highlighted that a portion of transportation authorization would support conversion from chip seal to hot‑mix standards.

Staff also presented operating‑cost estimates for new facilities, including an estimated first‑year maintenance and operations cost of roughly $14.07 per square foot and a modeled staffing cost for a hypothetical two‑level new jail cluster (first‑year operations cost in the $27.9M range). The court discussed phasing, which projects to prioritize, and the tradeoff between design timing and rising construction costs if building is delayed.

Staff asked for direction from the court and noted practical scheduling constraints: final taxable values in July, and a last planning date in early August (staff referenced August 15 as a working date) to place a bond measure on the November ballot. Commissioners asked for a narrowed packet and suggested a workshop so staff can model a smaller package tied to a target debt‑service rate.

Next steps: staff will refine the bond package per commissioners’ direction, prepare scenarios tied to target tax‑rate outcomes, and return with a recommended package prior to the August deadline if the court chooses to pursue a November election.