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Ellis County PBC authorizes $10.355 million revenue bond to fund facilities projects
Summary
The Public Building Commission adopted Resolution 2026-02 Thursday, authorizing a $10,355,000 revenue bond (Series 2026-A) after hearing that the sale generated premium proceeds that reduced principal and provided roughly $300,000 for project costs; closing is scheduled March 25.
The Public Building Commission voted to adopt Resolution 2026-02 authorizing issuance of revenue bonds, Series 2026-A, to pay costs of acquiring, constructing and equipping several county facilities.
Larry Kleiman of Ransom Financial told commissioners the bond sale was advertised at $10.5 million but the underwriter bid produced premium proceeds that reduced the principal to $10,355,000 and generated about $300,000 to apply toward project costs. "Yesterday, we had the, bond sale for the $10,000,000, county bond issue," Kleiman said, and he summarized yields ranging from 2.38% to 4.15% and a reaffirmed S&P rating of AA-minus that helped secure favorable pricing. He noted closing was scheduled for March 25.
Commissioners questioned whether the resolution’s project list was binding if bid savings emerged. Dominic of Gilmore & Vowel explained substitute projects or scope reductions would be possible but would require additional governing-body action before funds could be repurposed. After discussion, a commissioner moved to adopt the resolution and the body recorded the motion as passed on a voice vote.
