Commissioners Court will meet Thursday morning, at 8:30am. in the Commissioners Courtroom, 100 Main Plaza. The biggest item on Thursday’s agenda is the consideration of bids for the sale, and the issuance of Certificates of Obligations, designated as "COMAL COUNTY, TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2016.” Moody's Investors Service this week assigned a Aa2 rating to Comal County's $11.3 million Combination Tax and Revenue Certificates of Obligation, Series 2016. According to Moody’s Investors Service, the same rating was also given to the County's outstanding General Obligation Limited Tax debt. Moody’s goes on to report that “the rating incorporates the County's sizeable and rapidly growing tax base with above-average wealth levels and a strong financial position with ample reserves and liquidity. The report adds, “the rating considers the county's average debt burden and manageable pension liability.” The expected sale dated is listed as today. We hope to speak with Judge Shermann Krause after Court -Thursday, on “Keeping Up with Comal County,” about the issuance of the debt and more. That's following the KGNB Noon News.
(Moody's Investors Service provides credit ratings and research covering debt instruments and securities)
FROM COMAL COUNTY AGENDA FOR 10-20-16:
"9. DISCUSS AND CONSIDER BIDS RELATING TO THE SALE OF OBLIGATIONS DESIGNATED AS "COMAL COUNTY, TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2016"; CONSIDERATION AND APPROVAL OF FINANCIAL ADVISOR'S RECOMMENDATION CONCERNING THIS MATTER; AND OTHER MATTERS IN CONNECTION THEREWITH.
10. DISCUSS AND CONSIDER APPROVAL OF ORDER #383 AUTHORIZING THE ISSUANCE OF "COMAL COUNTY, TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2016"; PROVIDING FOR THE PAYMENT OF SAID CERTIFICATES BY THE LEVY OF AN AD VALOREM TAX UPON ALL TAXABLE PROPERTY WITHIN THE COUNTY AND FURTHER SECURING SAID CERTIFICATES BY A LIEN ON AND PLEDGE OF THE PLEDGED REVENUES OF THE SOLID WASTE MANAGEMENT SYSTEM; PROVIDING THE TERMS AND CONDITIONS OF SAID CERTIFICATES AND RESOLVING OTHER MATTERS INCIDENT AND RELATING TO THE ISSUANCE, PAYMENT, SECURITY, SALE, AND DELIVERY OF SAID CERTIFICATES, INCLUDING THE APPROVAL AND DISTRIBUTION OF AN OFFICIAL STATEMENT; AUTHORIZING THE EXECUTION OF A PAYING AGENT/REGISTRAR AGREEMENT AND AN OFFICIAL BID FORM; COMPLYING WITH THE REQUIREMENTS IMPOSED BY THE LETTER OF REPRESENTATIONS ON FILE WITH THE DEPOSITORY TRUST COMPANY; AUTHORIZING THE EXECUTION OF ANY NECESSARY ENGAGEMENT AGREEMENTS WITH THE COUNTY'S FINANCIAL ADVISORS AND/OR BOND COUNSEL; AND PROVIDING AN EFFECTIVE DATE."