The Hunt County, Texas, Commissioners Court has approved the sale of the first bonds which will help pay for multiple projects in the $24 million road bond package approved by voters in November.
During Tuesday's regular agenda, the commissioners granted the issuance of $6 million in Tax Permanent Improvement Bonds, series 2017 in the aggregate principal amount of approximately $6 million of the bonds.
It is expected the money will be leveraged to help pay for as many as two dozen transportation projects across the county.
The Hunt County Transportation Plan Committee developed with a list of projects designed to address the growth which is approaching the county from the west, north and south, ranking the projects in order of greatest need and the most significant impact to the county, coming up with the $24.4 million bond package.
The proposed projects include the rebuilding of Farm to Market 2642, the widening of FM 1570 from Interstate 30 to State Highway 34, the widening of State Highway 34 from FM 1903 to FM 1570 and the construction of an underpass/overpass for pedestrian traffic on State Highway 24 in Commerce for students of Texas A&M University -- Commerce.
The majority of the funding for the projects, as much as $162.4 million, would come from TxDOT via statewide propositions approved by voters in 2014 and 2015.
The bond package is expected to increase taxes for residents by 1.5 cents per $100 valuation, adding about $15 to the annual property tax bill of an average homeowner in the county.
