The expansion and remodeling of the Wimberley Village Library was brought before the Hays County Commissioners Court Tuesday for possible support.
Dell Hood, a member of the library’s board of trustees, asked the court to consider issuing a Certificate of Obligation for $2.25 million to help the library keep abreast of growth in the Wimberley Valley.
“The county would issue the certificate but the debt would be ours,” Hood said, explaining the plan would add 6,500 square feet to the existing facility and would use remodeling “to create space and to better use the entire facility in providing residents of Western Hays County services and programs they repeatedly tell us they want.”
He noted that the county’s “excellent” standing in the bond market would translate into a lower rate, “which will enable us to have a repayment rate we can make.”
He said the work would adhere to environmentally sensitive designs and incorporate the “four goals of the One Water Program” throughout the building.
Pct. 3 Commissioner Lon Shell, who sponsored the agenda item, noted the library gets a percentage of sales tax revenue “so they do have revenue,” which would be used to repay the debt.
“They could obviously go into the private market and have that issued on their own,” Shell said, “but the rate would be significantly higher. This option is for a discounted rate using our credit rating.”
No action was taken on the request.