Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Public Finance topic
No spam. Unsubscribe anytime.
Ellis County PBC approves $10.355 million revenue bond after single underwriter bid
Summary
The Ellis County Public Building Commission adopted Resolution 2026-02 authorizing issuance of Series 2026-A revenue bonds after hearing that a single competitive bid allowed the county to reduce the advertised par to $10.355 million and generate about $300,000 for project costs.
Larry Kliman, the county's financial advisor from Ransom Financial, told the Public Building Commission that yesterday's bond sale drew a single underwriter bid but produced strong results.
"We were able to lower the bond issue from 10.5 down to 10.355," Kliman said, adding that yields on the sale ranged "from 2.38 up to 4.15." He described the issue as a premium bond that brought in extra cash to reduce principal and help project funding.
Commissioners discussed call features and timing for projects. Kliman confirmed the plan calls for a March 25 closing and a 20-year debt service schedule with the first interest payment included in the issue.
A commissioner moved to adopt PBC Resolution 2026-02 authorizing issuance of Ellis County Public Building Commission revenue bonds, series 2026-A; the motion was seconded and carried on a 3-0 voice vote. The commission recorded that the proceeds will cover multiple facilities projects and cost-of-issuance items and that roughly $10.3 million will fund projects after issuance costs and premium adjustments.
The resolution provides authorization for leases and covenants necessary to issue the bonds; commissioners did not identify any additional actions at the meeting beyond approving the resolution. The PBC adjourned and the county commission took a short recess before its regular meeting.
