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Council approves MUD 66 level‑debt‑service waiver after staff and financial advisor presentations
Summary
The council voted to grant a waiver of the level debt‑service requirement for Brazoria County Municipal Utility District No. 66 after the district’s financial adviser showed modeling that would lower its estimated near‑term debt‑service tax rate by roughly 3¢. Council approved the waiver and requested consideration of broader infrastructure policy updates.
Manvel’s city council approved a request to waive the level‑debt‑service requirement for Brazoria County Municipal Utility District No. 66 following a staff briefing and a presentation by the district’s financial adviser, Lauren Morales of Rathman & Associates.
Morales explained that the waiver would allow the district to structure the new bond issuance so a larger share of principal is placed in later years. The result, she said, would be a slightly lower estimated debt‑service tax rate for the district between now and about 2045, with different patterns in the 2040s as other series retire. “What the granting of the waiver will allow is greater flexibility in where we put the principal of the bonds,” Morales told council.
Council members asked technical questions about the modeling and whether expanding MUD flexibility beyond $15,000 warrants audit or policy review; staff recommended applicants present a case when seeking broader limits. The council voted to approve the waiver.
