County issues bonds aimed at roads and drainage

ANAHUAC– Recently, Chambers County Commissioners moved forward on funding for roads and bridges across the county to the tune of $50 million.

Commissioners approved funding through certificates of obligation during a special-called meeting on Tuesday, Aug. 5.

Those bonds will be dedicated to a bevy of projects “constructing, repairing, improving, equipping, operating, and maintaining County highways, roads, bridges, streets, and flood control and drainage improvements, facilities, and utilities.”

Currently, the county has outstanding debt obligations of $169,280,000, with a total payout of $254,003,388, comprising both principal and interest.

The total combined payout of the new bonds would be $96,987,993 at an estimated interest rate of 5.023570%, with a maturity date of March 1, 2064.

Some of the highlights of the planned projects include upgrading current gravel/rock roads to chip seal, the design and expansion of FM 565 from Mont Belvieu city limits to FM 1409, significant improvements to Hatcherville Road, drainage improvements and other enhancements.

The county is also exploring secondary projects related to drainage.