Maverick County hears $7 million tax‑note proposal; court moves matter into executive session

Maverick County financial advisers presented a proposal on Nov. 12 to issue up to $7 million in tax notes for capital projects, and after legal questions the commission moved that item into executive session for consultation with bond counsel.

David Gonzalez of PfM Financial Advisors said banks submitted five bids on the proposed tax note and named Bank of Texas as the top bid at 4.11%. He summarized proceeds and debt‑service projections, saying the structure delays principal payments and — with available transfers and rising property values — should avoid an immediate tax‑rate increase. "We ended up getting 5 bids on tax notes," Gonzalez told the court.

Gonzalez and bond counsel Adam Harden described the proposed use of proceeds — county roads, courthouse repairs and drainage projects — and showed an illustrative transaction with roughly $6.85 million in project proceeds after costs. The presentation included a tax-rate impact analysis and an explanation that the county is delaying principal for two years in the structure the bank approved.

After commissioners asked legal questions about contract execution and approval authority, the presiding judge asked for a consultation with counsel. The court agreed to move the item into executive session under Texas Government Code §551.071 "consultation with attorney"; the judge directed staff to return with contract amendments and related documents for approval at the next scheduled meeting.

No final financing decision was made during open session; the vote to move into executive session was recorded for the public record.