Brazoria Wants to Borrow

Brazoria County commissioners have set a November election for a proposal to issue $75 million of general obligation bonds to renovate the county fairgrounds at Angleton into a modern facility.

The plan includes a 5,000-seat arena that would be suitable for equestrian events, with a capacity of 7,000 for concerts.

Other planned projects include a 120,000-square-foot exposition center, three livestock barns with a total capacity of 300 horses, a 35,000-square-foot banquet hall, and renovations to the grounds.

An optional $50 million bond package that does not include the equestrian arena will also be on the Nov. 4 ballot.

If voters approve the $75 million proposal, Brazoria’s property tax rate would increase by 2.6 cents per $100 of assessed valuation.

Brazoria County voters in 2005 rejected a $38.5 million bond program to build a new county fair site.

The county’s GOs are rated Aa3 by Moody’s Investors Service. Brazoria County is located about 50 miles south of Houston.

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