Uvalde County court hears notice of intention to offer certificates of obligation for sale

At a Uvalde County court meeting, a staff member presented a "notice of intention" resolution that would begin the public-notice process to offer certificates of obligation for sale and described the timetable and sale options.

The resolution, described by the staff member as a "notice of intention resolution," gives citizens notice that the county intends to call for bids or potentially sell the debt directly. The staff member said the notice is posted at the county office and in the county newspaper "two weeks in a row," and that "46 days after the first publication, the court has the right to authorize the sale." The staff member added that, at the advertised public sale, the county would receive interest-rate bids and "anybody's welcome to this," while also retaining the option to "sell it directly to the bank" if that yields a rate comparable to a public sale.

The staff member framed the dual-track approach as a way to protect taxpayers: "it's a rate that we would get if we did a public sale. Then it's a win to the county," and said the county would "keep moving both forward if you wanna approve the notice of intention resolution." The transcript does not record a motion, second, or vote on the resolution.

The staff member also said the county must "make sure that you if you wanna proceed, you can go to the place that you as low as possible," indicating the court would pursue the lowest-cost option available. The amount referenced in the meeting transcript is garbled and not specified clearly in the record provided.

Next steps described in the discussion are publication of the notice as explained, a 46-day waiting period from first publication, and then either a public sale accepting bids or a negotiated sale to a bank; the transcript does not show the court taking a formal vote on the resolution during the recorded excerpt.