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Local investment banker urges Tuscaloosa council to reconsider 2026 bond underwriting choices
Summary
A local investment banker, identified in the record as Garrison, told the council he was not contacted for the city's upcoming 2026A and 2026B bond issuances and urged officials to "shop local," saying his firm is establishing a regional headquarters in downtown Tuscaloosa.
A speaker identified in the record as Garrison urged the Tuscaloosa City Council on March 10 to reconsider its selection of firms for the city's forthcoming 2026A and 2026B bond issuances, saying he and his local firm were not contacted.
"I came here tonight with kind of great disappointment that our city leaders have never contacted me to be a part of their 2026 bond issuances," Garrison said during the public comment period, adding that he had been the city's investment banker for seven years earlier and that his firm, Mezero, is building a Southeast headquarters in downtown Tuscaloosa.
Garrison said his firm has local ties and volunteer commitments in the city and contrasted that with out-of-town firms that "do not pay taxes here" and may spend proceeds or fees elsewhere. He asked the council to reverse recent decisions before bonds are issued, saying, "It's not too late to reverse the decisions that y'all have made and do the right thing." He also said the bonds had not yet been issued and urged reconsideration.
The speaker described his background in public finance and work on bond ratings, saying that he had contributed to rating upgrades and had decades of experience in public finance. He said he accepted a managing director role for Mezero, a super-regional investment firm, and that the firm's decision to locate regional operations in Tuscaloosa would make it a local resource for public finance work.
Council did not engage in a public response during the comment period. The council chair cut the speaker's time after a staff timekeeping cue; no council vote or staff directive on the bond underwriter selection was recorded on the agenda at the March 10 meeting.
What happened next: The meeting adjourned after routine business. The bond issuances Garrison referenced (2026A and 2026B) were described by the speaker as forthcoming and not yet issued; the council did not announce a formal change in direction during the March 10 session.
