Project Funding
Last updated 10/21/2024
CERTIFICATES OF PARTICIPATION (COP)
COPs are a financing tool similar to bonds; however, instead of pledging revenues to pay back the amount borrowed, the Courthouse is pledged as collateral. Like a home mortgage, after all the payments have been made, the City will have free and clear title to the Courthouse.
- No Tax Increases
- Due to the City’s strong credit rating and tax-exempt status, taxpayers are saving approximately 30% over market interest rates
- Long-term financing, such as COPs, offers intergenerational equity by paying for the Municipal Courthouse over a 25-year period
