Brazos County commissioners rarely consider borrowing money.
There was a unanimous vote to proceed with borrowing $20 million dollars for a variety of projects.
The 20 year certificates of obligation have what county judge Duane Peters described was a “phenomenal” interest rate of 1.681 percent.
The borrowed money will pay for the county’s new extension office building, a new precinct one justice of the peace and constable building, buying land for future precinct one and four road and bridge maintenance yards, roof replacements and repairs on existing buildings, renovating the kitchen at the jail, and county road improvements and repairs.
Click below for comments from Duane Peters, visiting with WTAW’s Bill Oliver.
Listen to “Brazos County commissioners approve rare long term financing” on Spreaker.