The DeKalb County Board is about to go $45 million in debt to finance an expansion of the courthouse and to build a new county jail. As required by law the Board held a public hearing (March 10, 2010) on the issuance of the debt bonds.

At its October 2009 Finance Committee meeting, Kevin Hoeckler from Scott Balice and Associates, presented a plan for selling the $45 million in debt bonds ”without a referendum or raising property taxes.”

The plan includes use of low interest or rebateable Build America Bonds and Recovery Zone Bonds and, according to Hoeckler, will be repaid through:

• The County has unobligated Sales Tax Revenues of around $1.2 million annually from the County Farm Site (East of Sycamore Road).
• Given the current market and certain credit assumptions this revenue stream can accommodate a $14 million bond issuance.
• This money can be used by the County to pay for the Court House expansion which is estimated to cost between $10-$12 million.
• The County is working with Waste Management to enter into a contract starting in December of 2012 that will produce roughly $120 million for the County over 30 years.
• Given the current market and certain credit assumptions this revenue stream can accommodate a bond issuance in excess of the $30 million estimated project costs for the Jail expansion.

The Gatheratorium at the County Legislative Center was full for the public hearing but only about 10 citizens spoke. All except Judge Kurt Klein spoke against selling the bonds or the construction project altogether.

Video Comments from Public Hearing

• Judge Kurt Klein
• Josh Boies (Part One and Part Two)
• Matt Woodstrup
• Peter Barick