Board decides on funding path for Weld County Justice Center
Published on August 24, 2026
After months of analysis, discussion, and careful consideration, the Weld County Board of Commissioners has provided direction on a funding path for the largest capital project in county history.
Following extensive financial analysis and discussion, four commissioners supported moving forward with the use of Certificates of Participation, commonly known as COPs, as well as cash, to finance the Weld County Justice Center, while one commissioner supported fully paying cash. With that direction, staff will move forward with COPs and cash as the funding path for the Justice Center.
Funding has been top of mind while planning for a project of this size. With cost estimates ranging from approximately $300 million to nearly $370 million as plans have developed, how to pay for the Justice Center has been an ongoing part of the board’s conversation. But as the project moves closer to construction, a funding path is needed.
Weld County is mandated by state statute to provide sufficient and adequate courtrooms. The board remains focused on building a facility that reflects the importance of the justice system as well as safely and efficiently serves everyone who will use it, including judges, court staff, sheriff's deputies, jurors, residents, and victims of crime.
A strong financial position
Weld County enters the project in a strong financial position, built through decades of conservative budgeting and maintaining healthy reserves.
The county currently has approximately $971 million across all fund balances, with about $611 million in unrestricted funds available. Those funds serve several purposes. They help pay for capital projects, earn investment income, and provide a financial cushion during emergencies or periods of economic uncertainty. Some available funds are planned to address needs identified in the Facilities Master Plan, road expansions, bridge repairs and other critical infrastructure projects.
Weld County’s financial position gave commissioners options when considering how to pay for the Justice Center.
- Pay cash upfront: The county could use approximately $368.5 million in cash as construction bills come due. This approach would avoid financing costs, but it would reduce the county's financial cushion from approximately 17 months of operating expenses today to about seven months. Once those funds are spent, they would also no longer be available for other county needs or for earning investment income.
- Use cash and COPs: Under the selected approach, county cash will pay for the parking garage, and COPs will finance the Justice Center. The financial analysis showed this approach would preserve approximately 14 months of operating expenses in reserve and allow more county funds to remain invested and available for other future needs.
The difference between those approaches was at the center of the board's discussion.
Paying cash avoids financing costs. However, financial analysis presented to commissioners also estimated that spending those reserves would mean giving up approximately $11 million per year in investment income at current rates.
Using COPs comes with an estimated net additional cost of approximately $20 million to $35 million over 20 years, depending on what the county's preserved funds earn. In exchange, the county maintains a larger reserve and keeps more funds available for future capital needs, deferred maintenance, and unexpected expenses.
Paying for the largest capital project in county history also requires looking beyond this project alone. Commissioners considered the county's ability to respond to emergencies, maintain existing facilities, complete future capital projects, and continue providing services as Weld County grows.
What are COPs?
Certificates of Participation are a financing tool that allows government entities to spread the cost of a long-term capital project over time instead of paying the entire cost upfront.
Rather than paying the full cost at once, the county makes annual lease payments while keeping more of its reserve funds available.
For the Justice Center, using COPs allows Weld County to maintain a larger financial cushion, keep funds available for emergencies and future capital needs, and continue earning investment income on money that would otherwise be spent upfront.
The 2013 floods are one example of why those reserves matter. Because Weld County had funds available, the county was able to begin addressing flood damage immediately rather than waiting for federal reimbursement. More than a decade later, portions of the federal reimbursement process related to that disaster are still being resolved. Maintaining reserves gives the county the ability to respond when needed while outside funding processes run their course.
Under Colorado statute, COPs are not indebtedness. The Board of Commissioners must decide each year whether to appropriate the annual lease payment. However, the long-term financial obligation associated with COPs was an important part of the board's discussion.
Like any financing tool, a COP is not inherently good or bad. Its value depends on how it is structured, how much is financed, the cost of financing and how its use fits within the county's long-term financial strategy.
Weld County is not putting its current county facilities at risk. The lease is tied only to the new Justice Center being constructed.
Weld County has also used COPs before. Certificates were issued in 1997 to help construct the current jail and were paid off in 2007.
Breaking down the numbers
Under the current financing structure, approximately $249 million in certificates of participation are anticipated to be issued for the Justice Center.
Because construction will take place over several years, all of that money will not be spent at once. Funds waiting to be used will be held by a trustee and invested in U.S. Treasury securities matched to the construction schedule. Those investments are expected to earn approximately $19 million during construction, allowing the county to issue fewer certificates upfront.
Annual lease payments are currently estimated at no more than approximately $20 million, or less than 3% of the county's $703 million budget. Those payments will come from the county's existing budget.
The county will also have the option to pay off the certificates beginning in December 2036.
Different perspectives, same goal
For the board of commissioners, deciding how to fund the Justice Center is one of the most significant financial decisions they will make as elected officials.
It is a responsibility entrusted to the board by Weld County voters. Commissioners must look beyond the cost of one project and consider what a decision of this size means for taxpayers, county services, and Weld County's financial position for years to come.
That responsibility resulted in healthy debate and different perspectives around the board table.
Commissioner Kevin Ross supported moving forward with COPs, as did Commissioner Perry Buck. They believe this is the most fiscally responsible approach and allows money to be used to address additional current capital needs of the county.
Commissioner Jason Maxey did not support moving forward with COPs. He has been hesitant about using them from the beginning, citing Weld County's debt-free history and the additional cost that comes with financing. While COPs are not considered traditional debt under Colorado law, Maxey said they have the characteristics of debt and maintained that the least expensive money is money the county does not have to borrow. With cash available, his preference was to pay for the project and avoid the additional financing costs.
Commissioner Lynette Peppler acknowledged her own concerns about debt but said the ability to maintain county reserves with limited risk ultimately led her to support moving forward with COPs. For Peppler, the decision came back to what she believes is the best way to provide fiscal leadership while protecting the county's strong financial position.
Commissioner Scott James shared some of Maxey's concerns and acknowledged his reluctance to use COPs. He also noted that commissioners are responsible for managing a government and its long-term needs. After weighing the information presented, James said he believed the COP approach was the best decision for the county under the circumstances and supported moving forward.
Ultimately, four commissioners supported moving forward with COPs, while one supported an all-cash approach. That direction gives staff a path forward.
These different perspectives are important. Commissioners questioned the numbers, discussed the risks and benefits, considered the cost of financing, and weighed what spending significantly more cash today could mean for the county tomorrow.
Although they reached different conclusions about the best funding method, all five shared the same goal: protect the interests of Weld County taxpayers, be responsible stewards of public dollars, and maintain the strong financial position the county has spent decades building.
What happens next?
The board's direction allows county staff to begin the formal financing process. Next steps include:
- Seeking proposals from underwriting firms.
- Selecting an underwriter.
- Completing a credit-rating process.
- Bringing a final authorizing resolution back to the Board of Commissioners.
The county is working toward issuing the certificates of participation before the end of 2026.
For residents, the bottom line is simple: Weld County is mandated to provide court facilities; taxes will not be raised to pay for them; and the board has provided direction on a funding path that balances the investment needed today with maintaining the county's financial strength for tomorrow.
To learn more about the Justice Center, visit https://wcjc.weld.gov.