Hays County Formalizes Debt Management Approach
Hays County Courthouse, San Marcos, TX – Hays County recently formalized its debt management policy at the recommendation of County Auditor Bill Herzog and Dan Wegmiller of Specialized Public Finance, Inc., the County’s financial advisor. In addressing the Commissioners Court, Wegmiller noted that having a Court-approved plan in writing helps ensure that the County will maintain its strong bond rating which results in the best possible interest rate when selling bonds.
“Hays County has a long history of a conservative approach to selling debt,” Wegmiller said. “In essence, we’re just formalizing the steps the County has been taking to ensure that its bond rating and interest rates are the best available. Bond rating agencies are now requesting a written document and having this document in place will expedite the process we must go through to sell debt and allow us to continue to act quickly when the market is to our advantage.”
The Court also approved a resolution authorizing Wegmiller and Specialized Public Finance to refinance some of the County’s bond debt when interest rates are advantageous to do so.
“By actively managing the County’s debt, taxpayers come out ahead as money is saved and can be used to pay down debt or fund other approved projects,” Herzog said.