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Commissioners authorize planning, finance study for new detention facility; advisors outline bond and tax-note options
Summary
After a presentation by PFM Financial Advisors, the court authorized county financial advisors and bond counsel to work with appointees and the sheriff to develop a plan for a new or renovated detention facility, including finance options that could use lease-revenue bonds or tax notes to limit tax-rate impacts.
Maverick County Commissioners Court on Sept. 9 authorized the county’s financial advisor and bond counsel to begin detailed planning and a plan of finance for a proposed detention facility.
David Gonzalez of PFM Financial Advisors presented scenarios for issuing tax notes at $5 million, $7 million and $10 million (7-year terms) and explained how the county’s existing debt-service reserve (about $800,000) and debt retirements in 2026–27 could offset tax-rate impacts. "If you issue $5,000,000 at a 4.25%…
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