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Brownsville reviews quarterly finances and approves bond‑planning resolutions amid state legislative uncertainty
Summary
The city acknowledged unaudited second‑quarter financials and approved resolutions to preserve the option to reimburse capital costs and to publish intent to issue certificates of obligation up to $150 million if needed, while staff said final decisions will depend on pending state legislation.
The Brownsville City Commission on May 20 acknowledged the city’s unaudited financial statements for the second quarter ended March 31, heard an overview of key revenue and portfolio figures, and approved two resolutions aimed at preserving the city’s ability to finance capital projects while state legislative proposals remain unsettled.
Interim Financial Director Steven Muse presented the report and said general fund revenues and transfers year‑to‑date were $75.3 million (March’s sales tax receipts, received after the packet, increased the comparable receipt total to about $79 million). Muse told commissioners the city’s unassigned fund balance was $43.9 million and the portfolio’s…
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