Project Funding

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
• Tax-exempt rate saves approximately 30% from the taxable rate
• Long-term financing, such as COPs, offers intergenerational equity by paying for the Municipal Courthouse over a 25-year period