For Immediate Release: Wednesday, January 14, 2026
Government Operations and Fiscal Policy Committee will review bonds issuance for Bus Rapid Transit and governance of the County’s Retirement Benefit Trust Fund
The Government Operations and Fiscal Policy (GO) Committee will meet on Thursday, Jan. 15 at 10:30 a.m. to review a resolution authorizing the issuance of revenue bonds for Bus Rapid Transit (BRT). The committee will also review Office of Legislative Oversight (OLO) Report 2025-14, Retirement Benefit Trust Fund Governance in Montgomery County.
The members of the GO Committee include Chair Kate Stewart and Councilmembers Shebra Evans and Sidney Katz. The meeting will be livestreamed on the Council’s website and the Council’s Facebook page and YouTube channel.
More detail on each agenda item is provided below.
Resolution Authorizing the Issuance of Revenue Bonds for Bus Rapid Transit
Review: The GO Committee will review a resolution authorizing the issuance of revenue bonds for BRT. The resolution would authorize the County to issue grant anticipation revenue bonds of up to $199.5 million in support of the development and construction of BRT in the County.
In 2025, the joint GO and Transportation and Environment (TE) Committee reviewed, and the full Council approved, a supplemental appropriation for a Capital Improvements Program (CIP) project constructing BRT along a central portion of Maryland Route 355. This supplemental appropriation authorized a funding switch to allow the County to securitize state BRT grant funding for use as long-term financing bonds, instead of appropriating these grant funds annually on a pay-as-you-go (PAYGO) basis. This in turn allowed the Montgomery County Department of Transportation (MCDOT) to enter into a design-build contract that covers more elements of the project up front, reducing the risk of inflationary cost increases in future years.
The subject resolution authorizes the issuance of bonds in the aggregate principal amount of up to $199.5 million. In addition, the resolution specifies that the bond series will be limited obligations of the County payable solely from funds received by the County from the state BRT Fund.
Review: The GO Committee will review OLO Report 2025-14, Retirement Benefit Trust Fund Governance in Montgomery County, which examines the current governance structures for County retirement and retiree health benefit trust funds. The report includes a summary of governance best practices for retirement and retiree health benefit trusts and a discussion of the comparative advantages and disadvantages to different governance models.
Advertisement
Montgomery County has created two trust funds, one for the County Government retirement system and another for County Government, Montgomery County Public School (MCPS) and Montgomery College retiree health benefits. The County’s Board of Investment Trustees (BIT) manages assets for the County government’s retirement trust, while the Consolidated Retiree Health Benefits Trust (CRHBT) Board of Trustees manages the assets of the multiagency retiree health benefit trust.
The Committee meeting schedule may change from time to time. View the current Council and Committee agendas, Council staff reports and additional information on items scheduled for Council review on the Council website.
Council and committee meetings are streamed live on the Council’s web page via YouTube and on Facebook Live and can be watched on County Cable Montgomery on Xfinity/RCN 6 HD 996/1056, Fios 30, and on the CCM live stream.
Release ID: 26-010
Media Contact: Sonya Healy 240-777-7926, Benjamin Sky Brandt 240-777-7884
Read the original article at mccouncil