Supervisors create dedicated funds after $7.51M sale of G.O. subordinate LOSST bonds

The Dallas County Board of Supervisors adopted three resolutions on Sept. 15 to establish budget and accounting structures for the county’s recently issued 2026 general‑obligation subordinate local option sales and services tax (LOSST) bonds.

According to packet materials, the County sold bonds totaling $7,510,000 on Aug. 18, 2026 to be repaid primarily from a subordinate pledge of designated LOSST revenues, with the debt‑service tax levy to backstop the issue if needed. The board adopted Resolution 2026‑0112 to create a 2026 G.O. Subordinate LOSST Project Fund for segregating proceeds used to pay capital project costs. Resolution 2026‑0113 establishes a dedicated 2026 G.O. Subordinate LOSST Bond Fund for disbursing principal and interest payments. Resolution 2026‑0114 creates a 2026 G.O. Subordinate LOSST Bond Reserve Fund to hold reserve funds for debt service consistent with the bond trust agreement.

The packet notes the bonds will close on Sept. 10, 2026 and lists net proceeds (after funding a bond reserve subaccount) of $7,116,994.70 in the meeting materials. The projects described for bond financing include erecting, constructing, equipping and furnishing an ambulance storage facility for the county and related site improvements.

All three resolutions were recorded as adopted in the meeting materials. The packet instructs that UMB, N.A. will serve as trustee to hold the designated bond accounts per the trust agreement and that funds are to be segregated from other county special revenue funds for accounting clarity.