Grayson County commissioners on Tuesday are scheduled to take the first formal step toward borrowing up to $8.5 million, with the money aimed at buying land for future public safety, jail and court facilities and at new public safety equipment, including a firetruck for the county airport.
The Commissioners Court agenda for its 10 a.m. meeting Oct. 13 lists two related items. First, Dave Gordon of Estrada Hinojosa is set to give a presentation on potential Grayson County Certificates of Obligation, Series 2026. Then the court is to discuss and act on Resolution 2026-040, which would authorize the county to publish a notice of intention to issue the certificates.
What the notice says
The draft notice attached to the agenda sets Dec. 8 at 10 a.m. as the date the court would consider an order actually authorizing the debt, at the courtroom in the county courthouse, 100 W. Houston St. in Sherman.
It lists the uses for the money as:
- buying real property as a site for facilities used for public safety, jails and judicial purposes
- preparing that site, including relocating utilities
- designing, building and equipping those facilities
- professional services for design, construction and project management
- public safety vehicles and equipment, including a firetruck for use at the county airport
- financing and issuance costs
The notice does not identify a site or say which facilities would be built.
Cost and repayment
The certificates would be repaid through the county's annual property tax, according to the notice. It estimates principal and interest on the new certificates at about $12.84 million if the full $8.5 million is issued, with a final maturity date no later than Aug. 15, 2047.
The notice also lists the county's existing debt: $24,945,000 in outstanding principal, and $29,912,150 in combined principal and interest still owed on it.
