CCDC
Ada Commishes To Payoff Bonds They Never Owed
July 14, 2014 
Former Ada County Commishes created an end-run around voters some 23 years ago when they convinced an out of county judge that “annual lease payments” to the Capital City Development Corp. (CCDC) were not long term debt.
The current Ada County Commishes see it differently. They are proudly planning to payoff the “Ada County Courthouse bonds,” which the previous board claimed never existed. The old commishes never got voter approval for the debt because it was called a “lease.” CCDC has owned the Ada County court house (and debt) all these years as a pseudo “landlord.” This payoff comes 7 years early, saving the county and taxpayers approximately $6 million in future bond interest that will not need to be paid. It will be a one-time $37 million expense.
Thursday, July 17 at 6:00 p.m., the Board of Ada County Commissioners will hear a public presentation of Ada County’s proposed Fiscal Year (FY) 2014-2015 budget, presented by the Ada County Clerk/Auditor/Recorder. The presentation will take place in the Ada County Courthouse Public Hearing Room at 200 W. Front St. in Boise.
To insure more advertising-free Boise Guardian news, please consider financial support.
Comments & Discussion
Comments are closed for this post.
Jul 14, 2014, 7:39 pm
paying bills they don’t owe…. I’m sure they don’t owe me anything.. where’s my money????
Jul 14, 2014, 9:22 pm
Point of clarifications. The county purchased the land separately of the actual building by 7 years or so. Was the original land purchased using the judicial approval in 1993?
If this was a judicial review type purchase/lease, why did Ada County go to the voters with an advisory vote in 1996?
It all seems very complicated and very different depending who you ask.
EDITOR NOTE–Clancy, as usual, your are correct. The advisory vote was along the lines of “if we don’t levy new taxes would you like a new building?” There is an argument of where the “lease payments” originated, but it is all public money and as the current commishes acknowledge, it is debt. Nice to see it paid off early.
Jul 15, 2014, 9:26 am
And still have money left over to build a new 911 building that is 20 times bigger than the current space.
Jul 15, 2014, 4:14 pm
Fiscal responsibility, looking out for the folks, and righting a wrong. Wow. It’s so rare to ever see news like this, it almost seems…..weird.
Jul 16, 2014, 1:37 am
I Cringe every time I go by the beautiful Ada County Courthouse stuffed into a way undersized lot facing a major road. I would like for someone to explain the logic for placing the Courthouse there. Its a terrible location.
Jul 16, 2014, 10:49 am
A great example of how to use a lawyer to break the law… even though they are sworn to uphold it.
$37M lump of real money? Or is it some kind of funny money transaction?
Also, does this mean they will no longer have enough money to send a 60,000 lb truck and five firemen racing to every medical call in addition to the two-three man 12,000 lb medic unit? We gotta find somethn else for the fire department to do now that we have so few fires.
Jul 16, 2014, 11:10 am
It makes me wonder why they have EXCESS cash to pay this off.
Pretty sure the equation is:
Tax too much + what to do with it = spend it.
What’s the (implied) interest rate expense?
Jul 17, 2014, 10:00 am
So they want to build a 911 center but they cannot manage what they have now. Who will run it….the Sherriff or the commish’s? We should get a new Sherriff first. The Sherriff does not need a new palace to match his ego.
Jul 17, 2014, 12:30 pm
While perhaps a good idea to pay it off, it is interesting that they can just dig around in the couch cushions and find $37 million. They find money for what they choose, and they deny they have when they choose. Just saying….