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La Marque council pushes staff to pursue short-term financing while committee refines police station plans
Summary
After hours of discussion about timing and scope, the La Marque City Council instructed bond counsel and its financial adviser to return with options to advance a proposed public-safety facility: staff should explore short-term financing for design work and a staged build strategy that could later be financed with a CO or voter-approved GO bond.
Council members, staff and the city's advisers spent much of the afternoon debating how to finance and size a new La Marque police and public-safety facility and whether to put a general obligation bond on an upcoming election.
Brad Angst, the city's financial adviser, described a structure that could fund up to about $17.5 million in new general-obligation debt without increasing the city's current debt-service tax rate, assuming conservative growth in the tax base. He told the council his analysis factored in current debt-service schedules and forecasted revenue growth.
The council's public-safety committee described two competing priorities: deliver a modern, functional…
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