[1. CALL TO ORDER]
[00:00:08]
>> IT IS NOVEMBER 18, 2022. CALLING THIS MEETING TO ORDER.
WE ASK YOU TO RISE FOR THE PLEDGE OF ALLEGIANCE AND THE
PLEDGE TO THE TEXAS FLAGMENT. >> I PLEDGE ALLEGIANCE TO THE FLAG TO THE UNITED STATES OF AMERICA.
AND TO THE REPUBLIC FOR WHICH IT STANDS.
>> ALL RIGHT. FOR THE CLERK, IT IS 3:07.
AS I SAID EARLIER, WE ARE THE THIRD FLOOR.
COMMISSIONER'S COURTROOM. AT THE NUECES COUNTY COURTHOUSE.
901 LEOPARD. I DO CERTIFY AS THE PRESIDING OFFICER. A QUORUM IS PRESENT.
COMMISSIONER ROBERT HERNANDEZ IS HERE.
MYSELF. AND COMMISSIONER GONZALEZ.
ABSENT TODAY IS COMMISSIONER BRENT CHESNEY AS WELL AS COMMISSIONER JOHN MAREZ. IF THEY SHOULD JOIN BY ZOOM,LY LET YOU KNOW, KARA. I DON'T SEE THEM.
I WASN'T ALERTED EITHER WAY. I DON'T KNOW IF THEY COULDN'T BE HERE WITH US. SO AT THIS TIME, WHAT I WILL DO IS ANNOUNCE A DISCLOSURE OF CONFLICT OF INTEREST.
AND ASK IF THERE ARE ANY. IF ANY CONFLICTS OF INTEREST OR APPEARANCE OF CONFLICT OF INTEREST WITH ITEMS OF THIS AGENDA HAVE OCCURRED OR IF YOU FORESEE THEM OCCURRING, YOU NEED TO DECLARE THEM AT THIS TIME. MEMBERS WITH CONFLICTS WITH REFRAIN FROM VOTING AND WILL REFRAIN FROM DISCUSSING SUCH ITEMS. I HAD ASKED JENNY.
FOR THE EASE OF THE FUTURE, COULD WE JUST HAVE THE AFFIDAVITS, LIKE, HERE IN THE COURTROOM? YOU KNOW, THE CLERK CAN HOLD THEM OR SOMETHING.
SO IF WE NEEDED THEM. WHAT IF SOMEBODY SAYS YES, THEN WE NEED TO ACTUALLY HAVE THAT AFFIDAVIT.
YOU KNOW? JUST FOR FUTURE HOUSEKEEPING.
[D. SAFETY BRIEFING]
AND THEN WE WILL LOOK AT TIM. TIM, GIVE US A BRIEF BUTIMPORTANT SAFETY BRIEFING. >> YES, MA'AM.
GOOD AFTERNOON, JUDGE. IT WILL BE BRIEF.
WE ARE MEETING TODAY ON THE THIRD FLOOR OF THE NUECES COUNTY COURTHOUSE IN THE COMMISSIONER'S COURTROOM.
THE THIRD FLOOR ATRIUM AREA PAST THE HUMAN RESOURCES OFFICE, YOU WILL FIND THE REST ROOMS. THERE IS A FIRE EXTINGUISHER LOCATED ON THE THIRD FLOOR HERE AT THE END OF THE COURTROOM AND FIVE THROUGHOUT THE THIRD FLOOR AREA AS WELL.
THERE IS AN AED NEXT TO THE HUMAN RESOURCES OFFICE.
IN THE EVENT OF EMERGENCY, CONNIE WILL DIAL 911.
IIN THE EVENT THAT WE DO HAVE TO EVACUATE THE BUILDING, WE WILL GO DOWN THE ATRIUM STAIRS, CROSS THE STREET FOR SAFETY PURPOSES.
SHOULD THERE BE A NEED TO SHELTER IN PLACE, COURT ATTENDEES WILL REMAIN IN THE COURTROOM DEPENDING ON THE SEVERITY OF THE COURTROOM. AS YOU ARE DEPENDENT ON THE SEVERITY OF THE INCIDENT. THE DOUBLE DOORS WILL BE SECURED AND REMAIN SECURED UNTIL FURTHER INSTRUCTIONS FROM THE NUECES COUNTY SHERIFF'S OFFICE OR THE LAW ENFORCEMENT AGENCIES.
THAT CONCLUDES MY BRIEF. >> OKAY.
SPEAKING OF LAW ENFORCEMENT, I DON'T SEE A MEMBER OF LAW ENFORCEMENT HERE TODAY. THEY IN THE HALLWAY?
>> LY FOLLOW UP WITH IT. >> ALL RIGHT.
[E. PUBLIC COMMENT: This section provides the public the opportunity to address the Commissioners Court on any issues within its jurisdiction. The Commissioners Court may not take formal action on any requests made during the Public Comment period which are not on the Agenda, but can refer such requests to County staff for review if appropriate.]
APPRECIATE THAT. SO IS THERE A PUBLIC COMMENT ROSTER? OKAY.ANYBODY ON-LINE WISHING TO MAKE PUBLIC COMMENT? OKAY. MY COMMENT IS JUST TO PUT THIS UP IN ABOUT AN HOUR AND A HALF. WE WILL BE AT RICHARD... AT THE FAIRGROUNDS THANKS TO THE VOLUNTEER CORPS.
THROUGH THE VETERANS SERVICES. THEY HAVE ESTABLISHED A VOLUNTEER CORPS. IF YOU ARE INTERESTED IN BEING A PART OF OUR VOLUNTEER CORPS, CALL OUR VETERANS SERVICE OFFICE. I CATCH THEM, YEAH.
ANYWAY, IT IS JUST WONDERFUL BECAUSE THIS VOLUNTEER CORPS IS HELPING WITH OUTREACH EVENTS, VETERAN-RELATED CEREMONIES, VISITING ELDERLY VETERANS AND ASIFERSED LIVING FACILITY, AND SO MUCH MORE. THE SO MUCH MORE IS TODAY, THEY WILL BE HELPING US PLACE 1,000 FLAGS IN THE GROUND AT THE FAIRGROUNDS AT THE COASTAL BEND FIELD OF HONOR WHICH HAD TO BE RESCELD JULYED UNTIL TODAY. IF YOU CAN LEAVE THIS COURTROOM AND GO OUT TO THE FAIRGROUNDS AT 4:30, OR EVEN IF YOU ARE A LITTLE LATE, IT IS WORTH GOING TO TO SEE THE SEA OF AMERICAN FLAGS DEDICATED TO OUR VETERANS. AND THANKS TO THE NUECES COUNTY
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COMMISSIONER'S COURT, OUR OWN EMPLOY EASY THAT ARE VETERANS WILL BE HONORED AS WELL. WITH THAT, IS THERE ANY OTHER PUBLIC COMMENT? OKAY.THERE IS NOT. HOWEVER, PLEASE NOT FOR THE RECORD, COMMISSIONER JOHN MAREZ IS ON-LINE AND ON SCREEN.
SO WE ARE NOW FOUR AND ONLY ABSENT COMMISSIONER CHESNEY.
[1. Canvass and declare the results of the November 8, 2022 General Election in accordance with Chapter 67 of the Texas Election Code.]
I'LL MOVE TO REGULAR AGENDA ITEM A-1.CANVASS AND DECLARE THE RESULTS OF THE NOVEMBER 8, 2022 GENERAL ELECTION IN ACCORDANCE WITH CHAPTER 67 OF THE TEXAS ELECTION CODE. AND THAT MEANS I TURN IT OVER TO KARA AT THIS TIME. MS. KARA SANDS.
>> THANK YOU, JUDGE. I HAVE FOR YOU THE CANVASS, THE OFFICIAL CANVASS, WHAT THIS IS. THIS IS FOR THE NOVEMBER 8, 2022
>> GENERAL ELECTION. THIS WILL, FOR EVERY STATE, FEDERAL, AND COUNTY CANDIDATE RUNNING, IT WILL HAVE THEIR TOTALS. IT HAS EVERY VOTE THAT WAS CAST FOR THEM IN EVERY PRECINCT. EARLY VOTES AND ELECTION DAY AND ALSO THE ABSENTEE BALLOTS. IT HAS EVERYTHING.
>> SO JUST SOME INFORMATION. WE HAD 89,744 PEOPLE PASS IN A BALLOT IN NUECES COUNTY. THAT IS 42% WHICH IS DOWN ABOUT 4% FROM 2018, BUT IT'S BETTER THAN THE STATEWIDE AVERAGE.
AND IT IS A LOT BETTER THAN SOME OTHER COUNTIES.
RIGHT? BEXAR COUNTY WAS DOWN 7%.
DALLAS COUNTY WAS DOWN 13%. TRAVIS COUNTY DOWN 11%.
HARRIS COUNTY DOWN 9%. WE WERE DOWN 4%.
WE WERE DOING PRETTY GOOD. AND SOMETHING VERY INTERESTING, AND I THINK IS GOOD NEWS FOR US. WE HAVE A GREAT BALLOT BOARD.
THEY HAVE PROCESSED AND COUNTED EVERY BALLOT WITH CENTRAL COUNT.
WE HAVE DONE OUR PARTIAL MANUAL RECOUNT WE ARE SUPPOSED TO DO.
WE ARE REQUIRED TO DO THAT BY LAW.
WE HAD MAILED OUT 8,009 BALLOTS. OUT OF THOSE, 6,915 WERE
>> ONLY FIVE WERE REJECTED. >> OH, GREAT.
>> THAT DOESN'T EVEN... YEAH. LESS THAN... SO SAY THAT AGAIN.
THAT IS A GOOD STATISTIC. SO TELL US HOW MANY.
>> SO OUT OF... WE HAD ABOUT 85% RETURN.
FOR MAIL BALLOTS. WE MAILED OUT 8,009 MAIL BALLOTS. WE HAD 6,915 RETURNED TO US.
AND ONLY FIVE OF THOSE WERE REJECTED.
>> OKAY. BUT LET'S BREAK IT DOWN.
SO THE 6,000 WERE REJECTED... I'M SORRY.
ONLY FIVE OF THE 6,000 WERE REJECTED.
>> ONLY FIVE WERE REJECTED. YES.
>> YES. WE HAD SEVERAL CANCELLATIONS.
SEVERAL OF THE PEOPLE THAT DID NOT RETURN A BALLOT, THEY DID VOTE. THEY JUST CANCELED THAT BALLOT.
THEY VOTED IN PERSON. WE PROBABLY HAD ABOUT 300.
OF THOSE VOTERS. >> VERY GOOD.
>> SO... AND HOW MANY... THOSE ARE THE ONES THAT ASK FOR THE
BALLOTS. >> EVERY SINGLE PERSON THAT RECEIVED A BALLOT REQUESTED THE BALLOT.
>> GOT IT. >> EVERY SINGLE ONE.
WE ONLY MAILED THEM OUT IF THE VOTER REQUESTED THEM.
SO THOSE WERE THE NUMBERS. AND THAT IS IT.
YOU KNOW WHAT? MY STAFF IS GREAT.
THEY DID A GREAT JOB. THERE WAS NOTHING MAJOR TO REPORT. WE HAD A SMOOTH... YOU KNOW,
FAIR, SAFE ELECTION. >> THAT IS GOOD.
>> THANK YOU TO OUR NEW PARTNERS.
CARROLL HIGH SCHOOL WAS A BIG HIT.
A LOT OF PEOPLE VOTED THERE. YES.
YES. YOU KNOW, AGAIN, THANK YOU TO ALL THE VOTERS. EVERYONE.
ALL THE ELECTION CLERKS AND JUDGES.
FOR WORKING. >> I WILL JUST OUT OF INTEREST, I WILL GET YOU OUR DATA BECAUSE SEVERAL CAMPAIGNS, MINE AND THE SCOTT CAMPAIGN DID A MAIL-IN BALLOT PROGRAM, AND WHAT I THINK IS IMPORTANT TO ADD TO YOUR NUMBERS IS HOW MANY WE SENT OUT AND HOW MANY OF THOSE APPLICATIONS... HOW MANY OF THOSE, YOU KNOW, CAME IN. JUST TO SEE, ARE WE REALLY HITTING THE RIGHT... YOU KNOW, 65 AND OLDER?
>> RIGHT. WELL, I THINK THERE WAS A LOT OF
DOUBLE EFFORT. >> THERE WAS A LOT OF DOUBLE
EFFORT. >> WELL, BECAUSE YOU ARE JUST
>> HOW DOES IT COMPARE TO 2018? AS F AS HOW MANY?
>> THE DUPLICATES? WE HAVEN'T COUNTED THOSE.
>> YOU GOT 6,900. IN HOW DID THAT COMPARE TO 2018?
[00:10:03]
>> I THINK IT WAS MORE. >> VERY GOOD.
>> THERE WERE A LOT. IT WAS... YOU KNOW, IT IS THE DUPLICATES THAT REALLY... YOU STOP TO PROCESS THEM.
WE DON'T KNOW. UNTIL WE START PROCESSING.
OH, THEY HAVE ALREADY REQUESTED ONE.
ANY OTHER INFORMATION THAT WE NEED?
>> NO. OTHER THAN WE HAVE... THERE IS A RUNOFF. THAT IS THE CITY OF CORPUS CHRISTI. THAT RUNOFF, THE ELECTION FOR THAT IS DECEMBER 13. THERE IS NOTHING Y'ALL NEED TO DO. THAT IS THEIR RUNOFF.
WE ARE GOING TO RUN IT. BUT THEY DO EVERYTHING.
>> HOW ABOUT THE VOTING LOCATIONS AND ALL OF THAT?
>> WE CAN BORROW THE COURTHOUSE. THAT WOULD BE GREAT.
EARLY VOTING. NOT ELECTION DAY.
>> OKAY. >> BECAUSE I'M THE EARLY VOTING CLERK. THEY HAVE APPOINTED ME.
THE CITY HAS ME AS THE EARLY VOTING CLERK.
>> DO WE KNOW HOW MANY VOTING LOCATIONS THEY WILL HAVE?
>> OH, THEY ARE HAVING SIX EARLY VOTING LOCATIONS.
FOR DISTRICTS ONE, TWO, AND THREE.
>> CAN WE GET THOSE, LIKE, PRINTED?
>> ABSOLUTELY. THE CITY HAS TO CANVASS.
>> AS SOON AS THEY DO. >> ONCE THEY ORDER THAT ELECTION, WE WILL PUT THE INFORMATION OUT.
IT IS THEIR ELECTION. THEY WILL LET US KNOW.
>> UNDERSTOOD. >> AGAIN, THEY CHOOSE THE LOCATION. THEY ARE JUST TELLING US.
>> YES. AND... I WANT TO CONGRATULATE YOU AND YOUR STAFF. Y'ALL DID A GREAT JOB.
IT SEEMS LIKE EVERYTHING RAN SMOOTH.
I AM BLESSED. I LOVE MY STAFF.
I'M BLESSED TO HAVE THEM. >> WE ALL ARE.
TO HAVE Y'ALL HERE. >> YOU KNOW, NUECES COUNTY IS...
IT MIGHT BE WORTHY TO TOUCH BASE WITH THE PARTIES AND SAY, HEY,
DO YOU GUYS HAVE ANY INPUT? >> YUP.
WE ALWAYS HAVE OUR AFTER-ELECTION MEETINGS.
>> SOMETIMES IT IS HELPFUL AND SOMETIMES IT IS PAINFUL TO HEAR.
BUT EITHER WAY, IT IS TRANSPARENCY.
>> YEAH. YOU KNOW WHAT? THAT IS HOW WE GET BETTER, I THINK, EVERY TIME.
>> Y'ALL JUST ACCEPT IT. >> IS THERE A MOTION TO ACCEPT
MOTION AND A SECOND. AND ALL THOSE IN FAVOR, SIGNIFY
>> AND JUST LIKE THAT, THE PEACEFUL TRANSFER OF POWER
[2. Discuss and consider order authorizing the issuance and sale of Nueces County, Texas public property finance contractual obligations, series 2022; and enacting other provisions relating thereto.]
[3. Discuss and consider order authorizing the issuance and sale of Nueces County, Texas limited tax refunding bonds, taxable series 2022, authorizing the execution and delivery of a purchase agreement and an escrow agreement in connection with the sale of the bonds; and enacting other provisions relating thereto.]
BEGINS. DISCUSS AND CONSIDER ORDER AUTHORIZING THE ISSUANCE AND SALE... THIS IS ITEM NUMBER TWO.DISCUSSING AND CONSIDER THE ORDER AUTHORIZING THE CONTRACT OBLIGATIONS SERIES 2022 AND ENACTING OTHER PROVISIONS THERETO. NUMBER THREE WILL BE RELATED.
I'M GOING TO READ IT SO YOU KIND OF KNOW WHERE WE ARE HEADED.
IT COMES IN TWO PARTS. THE FIRST, WE ARE GOING TO AUTHORIZE THE ISSUANCE OF THE SALE.
THE SECOND WE WILL AUTHORIZE THE ISSUANCE AND SALE OF LIMITED TAX REFUNDING BONDS, TAXABLE SERIES 2022.
AUTHORIZING THE EXECUTION, DELIVERY, OF THE PURCHASE AGREEMENT, THE ESCROW AGREEMENT IN CONNECTION WITH THE SALE OF THE BONDS. AND ACTING ANY OTHER PROVISIONS RELATED THERE, TOO. WITH US TO EXPLAIN ALL OF THAT
LOVELY ENGLISH VERNACULAR... >> THANK YOU.
GOOD TO SEE YOU ALL. A LITTLE COLD OUT THERE.
WE ARE GETTING SOME RAIN, TOO. IN ANY EVENT, BACK ON OCTOBER 12, YOU ASKED US TO COME BEFORE YOU TO ATTEMPT TO FUND, I GUESS, A PIECE OF SOFTWARE AND MITIGATE OR ATTEMPT TO BRING TO YOU THE FINANCING THAT WOULD NOT IMPACT THE INTEREST RATE, THE TAX RATE.
TODAY FRIDAY WE RECEIVED A NUMBER OF BIDS SINCE YOU GAVE US THAT INSTRUCTION BACK ON THE 12TH.
THE TWO ITEMS BEFORE YOU, IT IS ONE TO AWARD THE FINANCING OF THE PERSONAL PROPERTY FINANCE OBLIGATIONS.
IF YOU GO TO PAGE FOUR, THAT WILL SAVE LOT OF TIME.
PAGE FOUR. WE WENT TO 60 BANKS.
FIVE BANKS RESPONDED. ON THE LEFT-HAND SIDE, THERE IS TWO TABULATIONS ON PAGE FOUR. AGAIN.
I GUESS... I DON'T KNOW WHO IS MANAGING THIS PAGE. YOU GO TO THE NEXT PAGE, I TH THINK... THE PREVIOUS PAGE. YEAH.
BASICALLY, THERE YOU WILL FIND J.P. MORGAN, WEBSTER, TRUIST, KEY, FROST. MOVING AROUND THE TERMS AND CONDITIONS. FOR THE PPFCO'S, IT WAS NOT A $6
[00:15:06]
MILLION, IT WAS A $5 MILLION FINANCING.THE BIDS CAME IN ON THE EQUIPMENT.
I THINK THE AMOUNT NEGOTIATE WAS $4.5 MILLION.
AND $500,000 WILL BE USED FOR OTHER EQUIPMENT THAT WILL HELP US ALSO MITIGATE EXPENSES ASSOCIATED WITH THE SOFTWARE MAINTENANCE COST. IN ANY EVENT, THE INTEREST RATE WE GOT FOR THIS FINANCING IS 3.71.
WE ARE USING THE SECOND HIGHEST BIDDER VERSUS... SECOND LOWEST BIDDER VERSUS THE FIRST LOWEST BIDDER.
THE ROEST BIDDER WAS J.P. MORGAN.
AT 3.64%. WE ARE GOING TO RECOMMEND THE 3.71%. IT IS A $14,000 DIFFERENTIAL, BUT WHAT I LIKE ABOUT THE WEBSTER BID, IT GIVES YOU THE ABILITY TO REFINANCE OR CALL IN THOSE BONDS FIVE YEARS FROM NOW.
TODAY'S INTEREST RATES ARE HIGH THAN WHAT WE HAVE SEEN IN THE LAST, IN THE LAST, I GUESS, EIGHT OR NINE MONTHS.
I HATE TO NOT GIVE YOU FOR $14,000, THE LATITUDE OR FLEXIBILITY TO PAY OFF THAT DEBT EITHER BY REFINANCING IT OR BY PAYING IT OFF EARLIER. OTHERWISE, IF YOU DON'T HAVE A CALL DATE, THEN YOU HAVE TO WAIT THE TEN YEARS TO PAY OFF YOUR DEBT. AND BECAUSE... THAT BECOMES MORE EXPENSIVE. OUR RECOMMENDATION FOR ITEM TWO, I THINK, ON THE AGENDA IS TO AWARD THESE BONDS.
THE PPFCO'S TO WEBSTER. ON THE OTHER SIDE, THE REFINANCING THAT WILL HELP US ACHIEVE A LOW... HELP US ACHIEVE KEEPING THE TAX RATE AT THE SAME LEVEL IS AWARDING J.P. MORGAN, THE RATE OF 4.34%. WHICH WILL CHANGE TO A 3:54 ON THE CALL DATE. IT WAS A PRETTY... WE WENT OUT WITH A BID THAT PRETTY MUCH TOLD THE BANKS, GIVE US THE BEST YOU CAN GIVE US. NOT ONLY IN THE SENSE OF AN INTEREST RATE, BUT ALSO ON TERMS AND CONDITIONS THAT WE FELT COULD BE FAVORABLE TO THE CO COUNTY, NOT ONLY TODAY BUT DOWN THE ROAD AS WE GO ABOUT SEEING MARKET CONDITIONS ON THE ROAD WHILE THE BONDS ARE OUTSTANDING. SO AGAIN, ON ONE SIDE, WE ARE RECOMMENDING FOR THE EQUIPMENT WEBSTER SECURITIES.
AND THEN ON THE RIGHT SIDE, IT WILL BE J.P. MORGAN.
THE BEAUTY ABOUT THIS RATE... THE RATES, BOTH OF THEM ARE LOWER INTEREST RATES. THAN WHAT WE SENT TO YOU BACK ON OCTOBER 12. YOU HEARD ABOUT THE CPI INDEX.
THE DOW JONES WENT UP. BOND YIELDS WENT DOWN.
THAT IS WHAT WE WERE ABLE TO ENJOY.
THAT IS OUR RECOMMENDATION TO YOU.
AWARD THE BONDS TO WEBSTER. PPFCO'S.
AND TO J.P. MORGAN ON THE REFUNDING BONDS.
>> OKAY. WE HAVE A MOTION... FIRST OF ALL, LET'S TAKE IT, YOU KNOW, A LITTLE BIT OF PIECEMEAL.
THE FIRST ONE IS TO MOVE ON YOUR MOTION FOR WEBSTER.
>> WEBSTER, YEAH. >> FALL RIGHT.
FOR THE ISSUANCE AND SALE. PUBLIC PROPERTY FINANCE.
CONTRACTUAL OBLIGATIONS. I'LL SECOND.
ANY DISCUSSION? ALL THOSE IN FAVOR, SIGNIFY BY
>> AYE. >> THANK YOU, COMMISSIONER MAREZ. ON ITEM NUMBER THREE, REGARDING THE LIMITED TAX FUNDING, IS THERE A MOTION REGARDING THE AUTHORIZATION, ISSUANCE OF THESE REFUNDING BONDS, TACKABLE SERIES 2022 TO GO WITH THE BIDDER J.P. MORGAN?
>> ALL RIGHT. A MOTION AND A SECOND.
AND ANY OTHER DISCUSSION? OKAY.
ALL THOSE IN FAVOR, SIGNIFY BY SAYING AYE.
>> AYE. WE NEED A MOTION TO EXECUTE AND DELIVER THE PURCHASE AGREEMENT AND ESCROW AGREEMENT IN CONNECTION WITH THE SALE OF THE BONDS.
AND ENACT ANY OTHER PROVISIONS. I'LL MAKE THAT MOTION TO DO THAT. IS THERE A SECOND?
>> SECOND. >> MOTION AND A SECOND.
ALL NOSE FAVOR, SIGNIFY BY SAYING AYE.
SO ONCE AGAIN, YOU HAVE HELPED US ACHIEVED OUR GOALS.
KEEPING THE FISCAL HOUSE OF THE COUNTY STRONG WHILE GETTING US THE DOLLARS THAT WE NEED TO MAKE IT STRONGER.
BECAUSE THAT IS WHAT THIS SOFTWARE IS GOING TO DO.
IT WILL REALLY CHANGE THE FACE OF, YOU KNOW, THE HUMAN CAPITAL HOURS THAT GO INTO THE ENTIRE SYSTEM COUNTY-WIDE.
I THINK IT BEARS NOTING, I SPOKE TO YOU YESTERDAY, I WAS VERY EXCITED AND HAPPY. WILL YOU GO AHEAD AND SHARE THE GOOD NEWS? BECAUSE I WANT TO GET A PRESS RELEASE OUT ON IT. REGARDING OUR MOODY'S RATINGS.
AND SHARE WITH EVERYBODY WHAT THAT MEANS AND...
>> YES. I MEAN, I UNDERSTAND THAT THE
[00:20:01]
MOODY'S RATINGS... I HAVE NOT... YOU WILL HAVE TO FORGIVE ME, JUDGE. I HAVE BEEN ALL OVER THE PLACE.>> THAT IS OKAY. >> YESTERDAY, I WAS WITH... ON A PERSONAL MATTER. IFL BEEN DISCONNECTED FOR A FEW DAYS HERE. THE LAST TWO DAYS.
I UNDERSTAND, ACCORDING TO YOU, THAT MOODY'S RELEASED SOME
RATINGS REAFFIRMING THE RATINGS. >> YES.
BASICALLY, WE HAVE REAFFIRMED OUR RATINGS AS A AA-2.
THIS IS FOR MY AUDITORS AND COURT ADMINISTRATOR.
AA-2. REAFFIRMING ALSO BASICALLY THE NOO. THE NO OUTLOOK.
WHICH IS APPROPRIATE FOR OUR STABLE OUTLOOK.
>> YUP, YUP. >> AND I JUST THINK THAT, YOU KNOW, HERE WE ARE. I'LL BE HONEST WITH YOU.
I FEEL INCREDIBLY ACCOMPLISHED AS WE STARTED OFF FOUR YEARS AGO. WE HAD TO REVERSE A NEGATIVE OUTLOOK. AND NOT ONLY DID WE DO THAT IN YEAR ONE, BUT WE'VE GONE THROUGH TREMENDOUS FINANCIAL AND ECONOMIC CHALLENGES AS A COUNTRY, IF AS A STATE, AS A COASTAL BEND, AND THROUGH THAT ALL, TO END HERE THIS FIRST...
WELL, MY FIRST TERM, IT IS JUST VERY GRATIFYING.
WE DID EXACTLY WHAT WE NEEDED TO DO.
THAT IS NOT BECAUSE I SAID IT. THAT IS BECAUSE THAT IS WHAT NEW YORK SAYS. THEY ARE THE ONES THAT MATTER.
THEY ARE THE ONES THAT COUNT. THAT IS WHY THESE INTEREST RATES THAT WE JUST RECEIVED ARE ALSO STRONG.
AND SO AS THEY SAY, HERE IS TO YOU FOR HELP GUIDING US ALONG THE WAY. AND HERE IS TO US BECAUSE THEY SAID IT COULDN'T BE DONE. WE DID IT.
I DO INTEND TO BRAG A LOT ABOUT IT.
BECAUSE IT MEANS THAT NUECES COUNTY CAN MOVE INTO ITS FUTURE SOLID AS A ROCK, AND MOODY'S GIVES US A PRESS RELEA DRAFT IT.
WE ISSUE THE PRESS RELEASE. RIGHT? I'LL SEND A COPY TO THE ADMINISTRATOR AND TO EVERYBODY ELSE. FROM THE AUDITOR'S STANDPOINT, I HOPE THAT PLEASES YOU BECAUSE THAT ALSO STRENGTHENS YOUR, YOU KNOW, AS THEY SAY, YOUR YEAR-END REPORT.
THAT IS ALL I HAVE. I KNOW THAT FRANCISCO HAS FEW HOUSEKEEPING PIECES MAYBE FROM BLAKELEY.
>> YES. I BELIEVE WE ARE ADDING AN ITEM FOR THE AGENDA ON THE 7TH RELATED TO... DECEMBER 7TH RELATED TO APPROVING AN AD VALOREM TAX-RELATED TO THIS
I'LL ASK THAT YOU GET THAT LANGUAGE OVER TO... I SAW THAT
WE CAN. >> FOR THE BENEFIT OF THE COURT, IT IS A LEGAL PROCESS THAT REAFFIRMS THAT THE TAX WILL BE
ALLOCATED TO PAY THIS DEBT. >> THAT IS RIGHT.
IT DOESN'T CHANGE YOUR AD VALOREM.
IT TIES IT TOGETHER THAT THE WAY YOU PAY THIS DEBT IS THROUGH THE
AD VALOREM. >> THAT IS CORRECT.
>> AND OF COURSE, WE HAVE OUR INTEREST IN THE FUNDS.
AS THEY SAY, EVERY ONCE IN A WHILE, THERE IS NOTHING BUT SMILES UP HERE. WE GOT WHAT WE NEEDED.
AND WE DID SO AT A STRONG... AT THE RATE THAT I THOUGHT WAS INCREDIBLY FAVORABLE, AND THEN THE DAY BEFORE, WE GET THE MOODY'S RATING. AS THEY SAY, MEETING ADJOURNED.
>>
* This transcript was compiled from uncorrected Closed Captioning.