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Court awards financial‑adviser contract and hears workshop on financing options for large projects
Summary
Walker County awarded a financial‑adviser solicitation to DA Davidson and held a workshop where advisers reviewed bond, certificate-of‑obligation, lease‑revenue and P3 financing options, timing and tax‑rate implications for large capital projects.
The Walker County Commissioners Court voted Dec. 15 to award a financial‑adviser solicitation to D A Davidson after a workshop presentation on capital‑project financing.
DA Davidson and Steve Perry of Tork presented financing options for potential large projects, including general obligation bonds, certificates of obligation, lease‑revenue/lease structures, and public‑private partnership approaches. Steve Perry advised obtaining construction cost certainty, such as a guaranteed maximum price, before seeking voter approval or issuing debt.
Perry told the court that construction inflation has been “running hot” and emphasized integrating construction and finance planning early. He described lease‑revenue bonds and certificates of obligation as common county tools and warned that timing matters to reduce tax impacts: “For every $10,000,000 that you raise, it's about a penny of tax levy,” he said, and noted typical financing durations of 30 years.
After questions about rollback risk and fee arrangements, the court moved and later approved awarding the solicitation to D A Davidson; the award was clarified on the record during the return to the agenda. The advisers will assist the county in developing financing models and advise on market timing, issuance structure, and disclosure requirements.
What's next: DA Davidson will be retained to advise the county on structuring potential financings and preparing any required issuance documents and public processes.
