Cameron County approves multiple 2025 bond orders, including financing to buy county share of B&M Bridge

Cameron County Commissioners Court on Oct. 21, 2025 approved a set of five bond- and note-related orders that together authorize issuance of tax notes, several refunding bond series and revenue bonds to finance equipment purchases and to acquire the county’s portion of the B & M Bridge.

The court voted to approve an issuance of Cameron County Tax Notes, Series 2025A, intended to fund equipment and vehicle purchases. County financial advisers described a target issuance of about $7.5 million to fund roughly $8 million in purchases including vehicles, radios and other departmental equipment. The court also approved three limited tax and revenue refunding transactions aimed at lowering future debt-service costs, and a revenue bond issuance tied to the county’s international toll-bridge system to purchase the B & M Bridge.

The refunding package was described by county financial advisers as targeting roughly $31 million of outstanding limited-tax obligations for savings. Advisers presented an estimate of approximately $2.3 million in cash-flow savings and about $1.9 million on a net-present-value basis (roughly 6.2% NPV) based on rates in early October; they cautioned actual savings will depend on market conditions at pricing.

Separately, the court approved revenue-and-tax refunding bonds related to State Highway 550 projects; advisers said roughly $4.2 million of that series was “in the money” at the time of the presentation, with estimated cash-flow savings of roughly $280,000–$350,000 depending on final pricing. The court also approved a venue-tax refunding bond series; advisers estimated cash-flow savings of about $500,000 for that transaction.

On the international toll-bridge financing, commissioners approved a revenue bond package to purchase the county’s half interest in the B & M Bridge. The purchase price shown in the presentation was $33 million, plus an additional $2 million budgeted for improvements to make the bridge ready for full county operation. The county plans a 30-year structure for that debt, funding a dedicated reserve and expecting robust debt-service coverage from existing bridge revenues. Advisers said final pricing and schedule depend on ratings, bond-insurance decisions and a pending consent from the Cameron County Regional Mobility Authority.

Commissioner Garza told the court he would not participate in discussion or votes on items 4(d)–4(h); the clerk’s record notes Garza’s abstention on the bond and note items. Other members voted to approve each order; county staff and outside counsel said rating agency calls, underwriting and closing steps would follow the approvals.

The court set a financing schedule with rating calls and planned pricing and closing dates in November–December, subject to market movement and final approvals.

Why it matters: The package funds near-term equipment needs, seeks interest-cost savings on existing debt, and provides the financing mechanism for a major capital acquisition — the county’s portion of the B & M Bridge — that will shift ongoing obligations and revenue flows tied to the county’s bridge system.

What’s next: County officials said they will finalize offering documents, meet with rating agencies and underwriters, and return final documents for administrative signoff by the judge and designated county staff once pricing is set.