Commissioners approve sale of $6 million in transportation bonds
Feb. 25—The Hunt County Commissioners Court has voted to approve the next payment toward major transportation improvement projects planned in the county.
Meanwhile, a virtual public hearing is scheduled to go online starting this evening concerning major changes for Interstate 30 on the west side of Hunt County.
The commissioners were scheduled during Tuesday's regular session to consider the next $6 million batch of the Hunt County, Texas, Limited Tax Permanent Improvement Bonds.
County Judge Bobby Stovall indicated the bonds are among the $24 million road bond package approved by voters in November, 2016 and would help cover engineering costs for some upcoming projects.
In June, 2017, the commissioners granted the issuance of the first $6 million in Tax Permanent Improvement Bonds.
A representative with Hilltop Securities, the county's financial adviser, was on hand during Tuesday's meeting to explain the bonds had received six competitive bids, due to the county's exceptional AA2 bond rating.
The vote to issue the bonds was unanimous.
The local funding has been supplemented by $194.4 million in state and federal highway funds, and another $41.4 million in anticipated funding for a total leveraged amount of available and anticipated funding of more than $260 million.
Interstate 30 between Greenville and Hunt County is predicted to have extra lanes, with reconfigured exit/on ramps and one way frontage roads, according to an announcement from the Texas Department of Transportation.
The virtual meeting is scheduled at 5 p.m. Viewers will be required to log on to www.txdot.gov at the time indicated and type "I-30 Hunt County West" into the search box. The meeting will consist of a virtual room with audio and video components and will remain available for viewing until 11:59 p.m. Friday, March 12.
According to TxDOT, Hunt County is experiencing rapid growth and the planned improvements in the 12.34 mile stretch between Farm-to-Market Road 2642 in Royse City and State Highway 34/Wesley Street in Greenville are needed to improve safety as well as relieve congestion.
The proposed projects include widening of the interstate from the current four to six lanes and the one-way frontage roads, as well as improvements/additions/replacements to interchanges with county roads 2511 and 2646, FM 1565, FM 36, FM 1903 and FM 1570 along Interstate 30.
Although additional right-of-way would be required, no residential or non-residential structures are expected to be displaced as of the current time.
The Hunt County Commissioners Court voted earlier this month to authorize contributing right of way funds to TxDOT in connection with a project on FM 2642.
