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Nueces County awards equipment financing, approves refunding bonds to preserve tax rate; Webster and JPMorgan chosen
Summary
The county approved a $5 million public property finance contract obligation for equipment and a limited‑tax refunding bond issue, citing favorable bids and a Moody's AA2 reaffirmation.
The Nueces County Commissioners Court on Nov. 18 approved two financing actions intended to fund county equipment and software and to refund outstanding bonds without increasing the tax rate.
Noe Estrada, presenting financing bids to the court, said the county solicited proposals from roughly 60 banks and received five usable responses. For the public property finance contractual obligations (PPFCOs), the county will pursue a $5,000,000 equipment financing package — roughly $4.5 million for equipment and $500,000 for related costs —…
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