The Grayson County Commissioners Court convened on May 13, 2025, to discuss several key financial matters, primarily focusing on the issuance of $5 million in project funds. The meeting highlighted the county's strong financial standing, as affirmed by S&P Global Ratings, which maintained a double-A rating for the county's outstanding obligations. This rating is recognized as a strong investment-grade credit rating, reflecting the county's fiscal responsibility.
The county's financial advisor detailed the process of preparing the preliminary official statement for the bond offering, which was conducted through a competitive sale. This approach allowed the county to post the offering on a designated website and receive bids from potential purchasers. The competitive sale resulted in nine bids, showcasing strong demand for the county's obligations. Hilltop Securities emerged as the winning bidder with an attractive interest rate of just under 3.3%.
The meeting also addressed the county's assessed valuation, which is projected to increase by nearly 34% next year, pending final review. The total debt service is expected to remain stable, with a slight decline anticipated after 2031. The county's existing debt service totals approximately $43 million through February 2033, with new obligations adding nearly $1 million annually until 2031.
Following the presentation, the court moved to approve the bond order authorizing the issuance of the tax note series. The motion was made by Commissioner Marr and seconded by Commissioner Arthur, receiving unanimous approval from the court.
The meeting concluded with a brief mention of the potential for an executive session, although no further details were provided. Overall, the discussions underscored Grayson County's commitment to maintaining its financial health while planning for future projects.