In March, 1998, the County issued $71 million in Certificates of Participation (COP's) to finance a major facility construction program. Projects include expansion of the existing jail; new justice centers in Fort Collins and Loveland; a sheriff's administration building; and remodeling of the existing administrative offices. The AAA insured COPs received an A1 underlying debt rating from Moody's Investors Service and an A+ from Standard & Poor's. Interest rates on the COP's range from 3.6% to 5.1% on serial maturities through 2012. The average yield is 4.89%. A November, 1997 voter approved sales tax increase is to be used to repay the certificates. Construction of the jail expansion began in April 1998, and all projects are scheduled for completion within three years.