Frisco undertook the construction of a new police station, designed to house both the Frisco police and the county sheriff and to serve as a detention center. To finance construction, Frisco received a cash grant of $1,000,000 from the county as an advance pending incurrence of expenditures. It also sold $2,000,000 of 20-year general obligation bonds. The bonds, sold April 1, 2019, were to be redeemed in equal semiannual installments of principal, with interest on the unpaid balance at the rat of 5 percent per annum, starting October 2, 2019. Frisco awarded two contracts, one for architectural and construction supervision services ($200,000) and one for construction ($2,800,000). The construction contract was completed in a timely manner, and the contractor submitted an invoice for $2,800,000. The invoice was paid, except that 5% was withheld, pending completion of the inspection. All construction and construction supervision work was completed. The construction architect/supervisor was paid in full, and the contractor was paid the balance due.
