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News

Douglas County is debt-free

Final open space bond payment made this month

Posted on October 11, 2022 2022Breaking NewsEconomic Foundations

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Pictured L to R: Douglas County Director, Finance, Andrew Copland, Douglas County Commissioner Abe Laydon, Douglas County Commissioner George Teal, Douglas County County Manager, Doug DeBord, Douglas County Commissioner Lora Thomas

You expect your County government to handle taxpayer dollars in the same, smart way you handle your home and business finances. This is a responsibility the County takes seriously. This month, Douglas County is completely debt-free.

In 2002, the voter-approved Open Space Sales and Use Tax allowed for bonding to acquire open space properties. The County originally bonded for $17.8 million on Oct. 1, 2002, with a varying interest rate of 3% to 4.75%. In 2012, the bonds were refinanced for $12.1 million with an interest rate of 2.16%.

Fast forward another decade, and, in total, the County made principal and interest payments of $25.8 million on these bonds since 2002. The re-issuance saved the County $2 million.

Douglas County is committed to financial transparency. Visit our Open Data web page for information on the County’s budget, expenditures, funds, documents and metrics.

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